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Robots will take old jobs off humans and give them new ones, says World Economic Forum

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A new study by the World Economic Forum has found that robots might take millions of jobs off humans, but those jobs will be replaced with better-paying ones.

WEF conducted the detailed study in partnership with the Boston Consulting Group. Their findings strongly point to a future in which human workers will be increasingly retrained.

This type of activity – learning new skills – is already part of the current economic scenario as companies always look to compete, but robots will accelerate this trend.  [Read more…] about Robots will take old jobs off humans and give them new ones, says World Economic Forum

World Economic Forum recognises Fetch Robotics as a ‘Technology Pioneer’

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Fetch Robotics, a developer of warehouse robots, was selected from hundreds of candidates as a World Economic Forum “Technology Pioneer”.

Fetch Robotics is said to have made it to the selection for its contributions in the field of robotics, and for its ability to address the rapidly increasing demands for flexible warehouse automation.

Fetch Robotics develops and manufactures collaborative autonomous mobile robot solutions for the warehousing and intralogistics markets.  [Read more…] about World Economic Forum recognises Fetch Robotics as a ‘Technology Pioneer’

Robots are stealing the world’s fish, says World Economic Forum

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A third of all fish consumed in the world are already caught illegally, and artificial intelligence and drone technologies are increasingly to blame, according to a report by the World Economic Forum into risks to the global economy.

WEF says that when the automation of illegal fishing is considered, the impact on fish stocks could be “devastating – particularly in international waters where oversight is weaker”.

Countless other areas exist where the same logic might unfold, says WEF, adding that huge short-term incentives might lead to the use of emerging technologies in ways that trigger irreversible long-term damage.  [Read more…] about Robots are stealing the world’s fish, says World Economic Forum

World Economic Forum warns of widespread disruption caused by robots

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The World Economic Forum has warned of widespread disruption caused by robots, in its latest report about global competitiveness. 

In its Global Competitiveness Index 2017, WEF says the most competitive countries are:

  1. Switzerland
  2. United States
  3. Singapore
  4. Netherlands
  5. Germany

The organisation says sustained economic recovery remains at risk due to lack of increases in productivity.  [Read more…] about World Economic Forum warns of widespread disruption caused by robots

Artificial intelligence driving revenue growth, says Infosys

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US Secretary of State John Kerry in Davos
US Secretary of State John Kerry at a previous World Economic Forum meeting in Davos

In a report specially prepared for the World Economic Forum meeting of world leaders from business and politics at Davos, Switzerland, Infosys says businesses and economies which adopt artificial intelligence are seeing dramatic growth. 

The IT consulting giant says companies and countries which embrace AI can expect to see revenue rise around 40 per cent by 2020.

Infosys adds that 80 per cent of AI adopters who can replace workers with computer systems are actually planning to retain and retrain their staff.  [Read more…] about Artificial intelligence driving revenue growth, says Infosys