The U.S. stands to lose 80 million jobs to automation.
Thomas Phippen reports: The robotic labor revolution is coming quickly, and the workforce may not be able to adapt without long periods of unemployment, according to economists at the Bank of England.
“Economists should seriously consider the possibility that millions of people may be at risk of unemployment, should these technologies be widely adopted.”
“Economists should seriously consider the possibility that millions of people may be at risk of unemployment, should these technologies be widely adopted,” BOE economists Mauricio Armellini and Tim Pike wrote in a post on Bank Underground, a blog for bank employees, Wednesday.
Artificial intelligence (AI) “threatens to transform entire industries and sectors,” the authors write, arguing that with the speed of industries adopting technological developments won’t give the labor force time to adjust. Read the rest of this entry »
Hitachi Ltd. said Tuesday that it has developed a two-arm robot that can pick up items from shelves in less than half the time required by existing robots. The company said the new robots were developed to collect items in storage and should be commercially available in about five years.
Other robots have had similar structures, but Hitachi’s new machine is programmed so its parts can work in coordination. The camera on its arm can spot the requested item while the machine is still on the move, which enables it to work more quickly.
“Because of this coordination, it takes about three seconds for the arm to pick up an item once it is in front of a shelf,” compared with seven seconds existing robots need, a Hitachi spokeswoman said.
The robot can pick up a plastic bottle from inside a box using one arm, or carry a box of items using both arms, the company said. It can also use one arm to hold a box and the other to place or retrieve an item. Read the rest of this entry »