Perhaps the most damning piece of evidence, according to Brynjolfsson, is a chart that only an economist could love. In economics, productivity—the amount of economic value created for a given unit of input, such as an hour of labor—is a crucial indicator of growth and wealth creation. It is a measure of progress. On the chart Brynjolfsson likes to show, separate lines represent productivity and total employment in the United States. For years after World War II, the two lines closely tracked each other, with increases in jobs corresponding to increases in productivity. The pattern is clear: as businesses generated more value from their workers, the country as a whole became richer, which fueled more economic activity and created even more jobs. Then, beginning in 2000, the lines diverge; productivity continues to rise robustly, but employment suddenly wilts. By 2011, a significant gap appears between the two lines, showing economic growth with no parallel increase in job creation. Brynjolfsson and McAfee call it the “great decoupling.” And Brynjolfsson says he is confident that technology is behind both the healthy growth in productivity and the weak growth in jobs.
New technologies are “encroaching into human skills in a way that is completely unprecedented,” McAfee says, and many middle-class jobs are right in the bull’s-eye; even relatively high-skill work in education, medicine, and law is affected. “The middle seems to be going away,” he adds. “The top and bottom are clearly getting farther apart.” While technology might be only one factor, says McAfee, it has been an “underappreciated” one, and it is likely to become increasingly significant.
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I downloaded this app and less than a months later I just had my first interview! I did apply for 17 jobs, but the one I got a callback from hired me. The process is super easy, and the one click applications are convenient. It saves your info so you can auto-fill your info and not have to type the same thing over and over. You can filter places and types of jobs. Definitely would recommend if looking for work.
The irony of our anxiety about automation is that if the predictions about a robot-dominated future were to come true, a lot of our other economic concerns would vanish. A recent study by Accenture, for instance, suggests that the implementation of AI, broadly defined, could lift annual GDP growth in the US by two points (to 4.6 percent). A growth rate like that would make it easy to deal with the cost of things like Social Security and Medicare and the rising price of health care. It would lead to broader wage growth. And while it would complicate the issue of how to divide the economic pie, it’s always easier to divide a growing pie than a shrinking one.
Of course, if automation is happening much faster today than it did in the past, then historical statistics about simple machines like the ATM would be of limited use in predicting the future. Ray Kurzweil’s book The Singularity Is Near (which, by the way, came out 12 years ago) describes the moment when a technological society hits the “knee” of an exponential growth curve, setting off an explosion of mutually reinforcing new advances. Conventional wisdom in the tech industry says that’s where we are now—that, as futurist Peter Nowak puts it, “the pace of innovation is accelerating exponentially.” Here again, though, the economic evidence tells a different story. In fact, as a recent paper by Lawrence Mishel and Josh Bivens of the Economic Policy Institute puts it, “automation, broadly defined, has actually been slower over the last 10 years or so.” And lately, the pace of microchip advancement has started to lag behind the schedule dictated by Moore’s law.
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“Over the last year interest in cryptocurrency jobs on Indeed has risen strongly. However, in recent months the prices of bitcoin and other cryptocurrencies have been volatile and (in some cases) declining,” the company said. “Job seeker interest on Indeed for bitcoin and cryptocurrency jobs has fallen, too.”
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So, we ripped up the rulebook. Just like that. Using the unique online capabilities of the Blockchain, we produced a system that rewards both hirer and the candidate for taking the process into their own hands.
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Meanwhile, Kiva itself is hiring. Orange balloons—the same color as the robots—hover over multiple cubicles in its sprawling office, signaling that the occupants arrived within the last month. Most of these new employees are software engineers: while the robots are the company’s poster boys, its lesser-known innovations lie in the complex algorithms that guide the robots’ movements and determine where in the warehouse products are stored. These algorithms help make the system adaptable. It can learn, for example, that a certain product is seldom ordered, so it should be stored in a remote area.
Brynjolfsson himself says he’s not ready to conclude that economic progress and employment have diverged for good. “I don’t know whether we can recover, but I hope we can,” he says. But that, he suggests, will depend on recognizing the problem and taking steps such as investing more in the training and education of workers.
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Snagajob is privately held and has raised over $141 million from investors including Adams Street Partners, Baird Venture Partners, C&B Capital, Rho Acceleration, NewSpring Capital, StarVest Partners and August Capital.[11][12][13]
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It’s a startling assertion because it threatens the faith that many economists place in technological progress. Brynjolfsson and McAfee still believe that technology boosts productivity and makes societies wealthier, but they think that it can also have a dark side: technological progress is eliminating the need for many types of jobs and leaving the typical worker worse off than before. ­Brynjolfsson can point to a second chart indicating that median income is failing to rise even as the gross domestic product soars. “It’s the great paradox of our era,” he says. “Productivity is at record levels, innovation has never been faster, and yet at the same time, we have a falling median income and we have fewer jobs. People are falling behind because technology is advancing so fast and our skills and organizations aren’t keeping up.”
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In the tony northern suburbs of New York City, IBM Research is pushing super-smart computing into the realms of such professions as medicine, finance, and customer service. IBM’s efforts have resulted in Watson, a computer system best known for beating human champions on the game show Jeopardy! in 2011. That version of Watson now sits in a corner of a large data center at the research facility in Yorktown Heights, marked with a glowing plaque commemorating its glory days. Meanwhile, researchers there are already testing new generations of Watson in medicine, where the technology could help physicians diagnose diseases like cancer, evaluate patients, and prescribe treatments.
Snag is an online employment website specializing in the hourly marketplace.[1] Founded in 2000 with offices in Washington, D.C., Richmond, Virginia, Charleston, South Carolina, and Oakland, California,[2] Snag has been named to Fortune Magazine’s “Great Place to Work” Best Small & Medium Workplaces list for eight consecutive years. Snag has also been named to Washingtonian’s “Great Places to Work” and Deloitte’s “Fast 500”, a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.[3]
Jump up ^ John Reid Blackwell (March 10, 2011). “SnagAJob gets $27 million investment – Richmond Times Dispatch: Metro-Richmond’s Latest Business & Economic News”. .timesdispatch.com. Retrieved June 4, 2013.
It is this onslaught of digital processes, says Arthur, that primarily explains how productivity has grown without a significant increase in human labor. And, he says, “digital versions of human intelligence” are increasingly replacing even those jobs once thought to require people. “It will change every profession in ways we have barely seen yet,” he warns.
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The expression day job is often used for a job one works in order to make ends meet while performing low-paying (or non-paying) work in their preferred vocation. Archetypal examples of this are the woman who works as a waitress (her day job) while she tries to become an actress, and the professional athlete who works as a laborer in the off season because he is currently only able to make the roster of a semi-professional team.
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Noma Bar (Illustration); Data from Bureau of Labor Statistics (Productivity, Output, GDP Per Capita); International Federation of Robotics; CIA World Factbook (GDP by Sector); Bureau of Labor Statistics (Job Growth, Manufacturing Employment); D. Autor and D. Dorn, U.S. Census, American Community Survey, and Department of Labor (Change in Employment and Wages by Skill, Routine Jobs); Bureau of Labor Statistics (Productivity, Output, GDP Per Capita); International Federation of Robotics; CIA World Factbook (GDP by Sector)
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