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A Quarter Of U.S. Jobs To Be Affected By Advancement Of A.I.

In the future, the class of workers affected by automation could grow as machines become more intelligent.

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A worker lifts a lunch bowl off the production line at Spyce, a restaurant which uses a robotic cooking process, in Boston, Massachusetts, May 3, 2018. VOA

Robots aren’t replacing everyone, but a quarter of U.S. jobs will be severely disrupted as artificial intelligence accelerates the automation of existing work, according to a new Brookings Institution report.

The report, published Thursday, says roughly 36 million Americans hold jobs with “high exposure” to automation — meaning at least 70 percent of their tasks could soon be performed by machines using current technology. Among those most likely to be affected are cooks, waiters and others in food services; short-haul truck drivers; and clerical office workers.

“That population is going to need to upskill, reskill or change jobs fast,” said Mark Muro, a senior fellow at Brookings and lead author of the report.

Muro said the timeline for the changes could be “a few years or it could be two decades.” But it’s likely that automation will happen more swiftly during the next economic downturn. Businesses are typically eager to implement cost-cutting technology as they lay off workers.

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This photo illustration shows a man watching an artificial intelligence (AI) news anchor from a state-controlled news broadcaster, on his computer in Beijing, VOA

Some economic studies have found similar shifts toward automating production happened in the early part of previous recessions — and may have contributed to the “jobless recovery” that followed the 2008 financial crisis.

But with new advances in artificial intelligence, it’s not just industrial and warehouse robots that will alter the American workforce. Self-checkout kiosks and computerized hotel concierges will do their part.

Most jobs will change somewhat as machines take over routine tasks, but a majority of U.S. workers will be able to adapt to that shift without being displaced.

The changes will hit hardest in smaller cities, especially those in the heartland and Rust Belt and in states like Indiana and Kentucky, according to the report by the Washington think tank. They will also disproportionately affect the younger workers who dominate food services and other industries at highest risk for automation.

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Pods full of merchandise are moved around the floor by robotic drives, named Amazon robots, at the Amazon fulfillment center in the Staten Island borough of New York, Dec. 5, 2018. VOA

Some chain restaurants have already shifted to self-ordering machines; a handful have experimented with robot-assisted kitchens.

Google this year is piloting the use of its digital voice assistant at hotel lobbies to instantly interpret conversations across a few dozen languages. Autonomous vehicles could replace short-haul delivery drivers. Walmart and other retailers are preparing to open cashier-less stores powered by in-store sensors or cameras with facial recognition technology.

“Restaurants will be able to get along with significantly reduced workforces,” Muro said. “In the hotel industry, instead of five people manning a desk to greet people, there’s one and people basically serve themselves.”

Many economists find that automation has an overall positive effect on the labor market, said Matias Cortes, an assistant professor at York University in Toronto who was not involved with the Brookings report. It can create economic growth, reduce prices and increase demand while also creating new jobs that make up for those that disappear.

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Rana el Kaliouby, CEO of the Boston-based artificial intelligence firm Affectiva, demonstrates the company’s facial recognition technology, in Boston, April 23, 2018. VOA

But Cortes said there’s no doubt there are “clear winners and losers.” In the recent past, those hardest hit were men with low levels of education who dominated manufacturing and other blue-collar jobs, and women with intermediate levels of education who dominated clerical and administrative positions.

Also Read: Facebook To Soon Come Up With Institute for Ethics in Artificial Intelligence

In the future, the class of workers affected by automation could grow as machines become more intelligent. The Brookings report analyzed each occupation’s automation potential based on research by the McKinsey management consulting firm. Those jobs that remain largely unscathed will be those requiring not just advanced education, but also interpersonal skills and emotional intelligence.

“These high-paying jobs require a lot of creativity and problem-solving,” Cortes said. “That’s going to be difficult for new technologies to replace.” (VOA)

 

Next Story

List of Best Penny Marijuana Stocks

As interesting and profitable as marijuana stocks are, they are still mostly penny stocks, the fact that making money off of this little green plant is still considered illegal in countries

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Marijuana grows at an indoor cannabis farm in Gardena, California, Aug. 15, 2019. VOA

As interesting and profitable as marijuana stocks are, they are still mostly penny stocks. This probably has something to do with the fact that making money off of this little green plant is still considered illegal in countries like the United States.

We know some states are changing their laws, but nothing has changed federally just yet. This means investors have to deal with cash most of the time, and sometimes, they can’t take advantage of certain tax deductions. The money made from this industry cannot always be used to open a bank account.

As you can see, there are many obstacles to overcome in this industry.

Some of these factors make it even more important for potential investors to pay attention to the penny stocks they do take a chance on. The following is a list of some of the best penny stocks available today.

1. InMed Pharmaceuticals Inc

When it comes to drug development and commercialization, there are only a few companies that can be compared to this company.

InMed Pharmaceuticals Inc. focuses on Cannabinoids, and they have invested a lot of time and effort into developing the therapeutic aspects of marijuana.

One thing the company is pretty proud of is the bioinformatics assessment tool. This tool allows technicians to figure out if a specific cannabinoid could address certain ailments.

The possibilities with this kind of targeted treatment are endless, which is attracting a number of investors around the globe.

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There is also the Aleafia Health stock that focuses on growing
and promoting medical cannabis clinics all around the US. Pixabay

At the moment, it seems like the company has made significant progress towards dealing with Epidermolysis bullosa, glaucoma, and it has also been working hard to address joint and muscle pains.

2. American Cannabis Company Inc.

The American Cannabis Company Inc. is considered the go-to company for entrepreneurs in the United States who are attempting to get into the business of selling marijuana.

Everyone knows that the business is setting itself up for a major boom in the coming years, even though it is already quite profitable.

This company understands that entrepreneurs don't always understand everything there is to know about cannabis, such as marketing it and navigating the current environment surrounding marijuana sales.

The American Cannabis Company Inc. is here to provide counsel, thanks to years of experience in the industry. It is here to provide marketing tools, branding information, and even help with staffing if needed.

Those interested in one of the best penny marijuana stocks out there should definitely pay close attention to this stock.

3. Auxly Cannabis Group

The Auxly Cannabis Group is an important company to watch out for. It is considered a cannabis royalty company, and the reason investors should keep an eye on it is because it is focused on helping growers start or expand their capacity.

If the marijuana industry is set to explode as more countries accept its usage, then there is going to be a need for growers who can provide.

Of course, the company does not only help other growers; it has also purchased its own farms as well.

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As interesting and profitable as marijuana stocks are, they are still mostly penny stocks. Pixabay

Projections say that these farms may end up producing up to 170,000 kilograms of marijuana in 2019 and the following year. Those kind of numbers have instilled the kind of faith any company wants to instill in possible investors.

4. Plus Products Inc.

Edibles are going to be an important part of the marijuana industry. These little things are fun, and people are loving them. At the moment, Plus Products Inc. is considered one of the fastest growing edible companies.

It continues to produce the kind of edibles that people want, hitting great numbers. Some of their best-selling edibles have seen great staying power and fend off competition.

It is safe to say that this company is putting a lot of work into the products they produce to make sure customers are happy.

It is currently selling its edibles in California, and that means the rest of the country is ripe for the picking, which means the potential for growth is undeniable.

ALSO READ: Daily Cannabis Use May Increase Risk of Psychosis

Plus Products Inc. is actually developing an even bigger facility that is going to be able to handle even more orders. It is safe to say that the company is foreseeing a huge spike in demand within the coming months or few short years. Investors interested in the the long game should definitely give this stock a try.

Of course, these are just some of the stocks that investors should keep an eye on, but there are more, such as MariMed Inc. that is more of an all-in-one consulting firm helping dispensaries and other players in the industry. There is also the Aleafia Health stock that focuses on growing and promoting medical cannabis clinics all around the US.

As mentioned earlier, the key here is to make sure each investor pays attention to each stock and what the company is attempting to do. We think one should only invest in a stock when the investor feels he or she can make an informed decision.