Executive Summary
Digital revolution is exponentially accelerating the productivity of various outcomes in the society and also transforming the employment and economy of the world. In recent times, innovation in technology is inadvertently becoming the cause for chronic unemployment which in turn is drastically affecting the median household income. This book discusses such trends and outcomes in general and offers solutions to the problems faced by present and future generation of workers. Erik Brynjolfsson and Andrew McAfee have discussed effects of machines on wealth distribution, economy and employment in a crisp, strong and insightful way.
Key Terminology
1) General Purpose Technologies (GPT): A small group of technological innovations so powerful that they interrupt and accelerate the normal march of economic progress. (Erik Brynjolfsson, 2011)
2) Digitization: An ongoing process of creative destruction innovators use both new and established technologies to make deep changes at the level of the task, the job, the process, even the organization itself. (Erik Brynjolfsson, 2011)
3) Skill-biased technical change (SBTC): The rise in wage inequality in the U.S. labor market is usually attributed to skill-biased technical change, associated with the development of personal computers and related information technologies. (David Card, 2002)
4) Micromultinationals: Businesses with less than a dozen employees that sell to customers worldwide and often draw on worldwide supplier and partner networks
5) Moor’s Law: The number of transistors incorporated in a chip will approximately double every 24 months. (Moore, 1965)
Further Resources
The science behind humanlike robots is advancing. They are becoming more smart, mobile and autonom...
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...ividuals and systems should be developed to encourage innovation in a flexible way with few legal restrictions. Government and investors should work towards improving the infrastructure of the nation by providing facilities and platforms making it simple for any individual to innovate.
References
Bar-Cohen, Y. (2009). The coming robot revolution expectations and fears about emerging intelligent, humanlike machines. Springer.
David Card, J. E. (2002). Skill Biased Technological Change and Rising Wage Inequality: Some Problems and Puzzles.
Erik Brynjolfsson, A. M. (2011). Race Against The Machine.
Lin, N. G. (2012). Robot Ethics : The Ethical and Social Implications of Robotics. Cambridge, MA, USA: MIT Press.
Moore, G. (1965). Moore's Law and Intel Innovation. Retrieved from Intel.com: http://www.intel.com/content/www/us/en/history/museum-gordon-moore-law.html
Because of technology which is defined as the organization of ideas for practical use, people are able to invent and produce machines that have made work less tedious. Twenty years ago, people use their hands to make coffee. But now, coffee machines are everywhere. Similarly, communication through mobile devices has replaced letter writing. In the fast-paced world, humankind continues to find ways in which they can perform simple tasks in just a snap. By the next fifty years, it will not be impossible to invent machines that would have a mind of their own. In fact, robots that can perform various tasks are already existing at the present.
One of the major causes leading to economic inequality is the growth of technology. Over the past twenty-five years, technology has made improvements in productivity and has played a huge role in the life of everyday society
Over the course of history, technology has had many advancements that human beings thought they would never be able to witness in their lifetimes. Today, many people never thought they would live to see the creation of robots. However, forms
Technology unemployment is unemployment due to our discovery of means of economizing the use of labor outrunning the pace at which we can find new uses for labor. (Brynjolfsson & McAfee, 2011)
6. Aleksander, Igor, and Piers Burnett. REINVENTING MAN: The Robot Becomes Reality. New York: Holt, Rinehart and Winston, 1983. p 25.
“The Robot Invasion” written by Charlie Gillis in an article which informs the reader of current uses and capabilities of robots as well as elaborating on the expectation of advancement of robotic technology in the future. Though the reader never learns of the author’s professional background or experience on the subject, he uses evidence provided by numerous scientists and professionals in the field to lend credibility to the article. Throughout the reading, the audience is presented the idea that while it is inevitable that robots will become commonplace in the future, there is adequate time to adjust education and skills to fit the needs of the future because of the current limitations of robots. Another point made is the thought that humans
The structural-functional analysis of jobs in the U.S. is governed by the workforce stratification and technology. The more educated and diverse a society is the better society’s job market is served. This social economic separation of class has been both good and bad for society. Many workers at the lower levels of employment are both pleased and displeased with many aspects of work. Though this fact also holds true with most any job at any level, pay scale often compensates for endurance of a particular job type. The security of a person’s job also is an issue that in today’s economic times forces one to be prepared for change. This is to say that even if one’s field of expertise is needed today it may not be tomorrow. This type of ever-changing job market leads many to believe that another socio-economic change may occur at any time. This change was apparent with the transition into the industrial age and again in the information age. These concerns caused stress, various health issues, a...
Anderson, MichaelAnderson, Susan Leigh. 2010. "ROBOT BE GOOD." Scientific American 303, no. 4: 72. MasterFILE Premier, EBSCOhost (accessed November 1, 2011).
One constant that dominates the landscape of science fiction is that when computers become self aware, they eventually destroy their creators. From 2001: A Space Odyssey to films like the Terminator, Robocop, and the Matrix the message is clear: any self aware machine is better unplugged. As a species we are nearing the horizon when artificial intelligence becomes a vibrant part of everyday life. According to tech entrepreneur Bill Gates, robotics has advanced tenfold in the first fifteen years of the twenty-first century (Holley, 1). Technology has advanced so rapidly that within the next fifteen years we will likely have to answer the growing moral dilemma that artificial intelligence has placed on society as a whole. It is estimated by Gates
Ever since the Industrial Revolution (1780s), the impact of technology has been subject to public debate over its effect on employment – does it cause unemployment or does it underlie the huge increases in standards of living (Jones 1996, p.11)? While it is difficult to ascertain the relationship between technology and employment, all that can be said with any certainty is that technological advancement has the capacity to create revolutionary economic and social changes (Jones 1996, p.21). In order to provide a clear analysis of the impact of technology on employment, we need to take into account the consequences of technological transitions and seek to relate these to social, economic, political, and cultural factors occurring at the time.
To remain competitive and employable in the twenty-first century workplace, society today must conform to the changing demands. Technology is one of the principal driving forces of the future; it is transforming our lives and shaping our future at rates unprecedented in history, with profound implications, which we cannot even begin to see or understand.
Robotics is a branch of physics and became the king of sciences and made the world to think about the work done by humans physically can done by machines which are robots . The combination of mechatronics and automation are to create robots. The technology of automated machines trades in dangerous environments or manufacturing processes in humans. To perform self-governing scientific times, however, the functionality of robots and machines to create applications grow significantly until the 20th century, the concept of research. Historically, the robots to imitate human behavior are often seen in the leg and are often similar to that of the management tasks. Continuous research, technology development, design, and construction of new robots for practical purposes, domestic, commercial, or serve in the military, whether today, Robotics, a rapidly developing field. Several robots, bombs, mines and hazardous jobs people do zoos ' defusing exploring the ship. Many of the robots in the field of bio-inspired robotics, inspired by nature's terms. The word robot is the Slavic word robot, comes from The word robot was introduced in 1920 to play Karel Čapek's RUR, or Rossum's Universal Robots.
The internet has influenced, and is still influencing the way society communicates in many different ways. The rise of the internet has caused people to communicate differently in areas never dreamed of before the internet came into existence. Education has been revolutionized through the world of the “Information Super Highway”. Medicine has also seen reform as the internet improves research and communication. Individuals are starting businesses from scratch, while others are selling household items for extra cash. This internet “typhoon” sweeping the globe has become a way of life for many individuals all across the globe.
To conclude, robots could be the backbone of the society that will result in a technological revolution. Because of robots various characteristics that do not experience fear, nor exhaustion and they are precisely programmed, which make them able to help in case of need, housework, and factories production. Society needs to put the issue of robots into consideration to satisfy any shortage exists in the world.