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Portentous changes to the work economies of India and the USA due to job automation by machines and robots continue to make headlines. Varieties of hardware and software automation are seeing implementation burgeon in both countries, as companies seek efficiency by replacing humans with machines. Wage erosion in areas previously unaffected by automation - including varieties of programming - is getting commoner while new, albeit highly specialized, engineering jobs are created. Both articles encourage educational changes mindful of these realities, though how colleges either side of the world can adapt to the blistering pace of automation is unclear.
The latest tranche of job automation news comes hot on the heels of Davos' prediction that machine automation will result in a net loss globally of over 5 million jobs prior to 2020.
(Score: 0) by Anonymous Coward on Wednesday February 10 2016, @08:31AM
This may explain the low inflation. The best economies come about when inflation is about 2.3%. But we've been stuck at about 1.7% for a while and the Fed Reserve is scratching their head. It seems the automation and cheap offshore labor pool is capable of doing more, but there's not enough water pressure in the figurative pipes to keep the economic machine at full capacity. The economic machine is larger now but the water in the hydraulics is the same, creating insufficient pressure. Print some money; the machines and 3rd-world factories can absorb the demand it would cause. A.K.A. Helicopter Money.