Lifeboat Foundation

In 1987, at the beginning of the IT-driven technological revolution, the Nobel-Prize-winning economist Robert famously quipped that “you can see the computer age everywhere but in the productivity statistics.”

More than 30 years later, another technological revolution seems imminent. In what is called “the Fourth Industrial revolution,” attention is devoted to automation and robots. Many have argued that robots may significantly transform corporations, leading to massive worker displacement and a significant increase in firms’ capital intensity. Yet, despite these omnipresent predictions, it is hard to find robots not only in aggregate productivity statistics but also anywhere else.

While investment in robots has increased significantly in recent years, it remains a small share of total investment. The use of robots is almost zero in industries other than manufacturing, and even within manufacturing, robotization is very low for all but a few poster-child industries, such as automotive. For example, in the manufacturing sector, robots account for around 2.1% of total capital expenditures. For the economy as a whole, robots account for about 0.3% of total investment in equipment. Moreover, recent increases in sales of robotics are driven mostly by China and other developing nations as they play catch up in manufacturing, rather than by increasing robotization in developed countries. These low levels of robotization cast doubt on doomsday projections in which robots will cut demand for human employees.

Continue reading “The Robots Are Not Coming” »

Real-estate transactions in the metaverse are reaching record highs. We spoke with companies investing in digital real estate to understand the economic model, and why investors are spending millions on virtual property. Photo: Republic Realm.

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This article was contributed by Valerias Bangert, strategy and innovation consultant, founder of three media outlets, and published author.

AI job automation: The debate

The debate around whether AI will automate jobs away is heating up. AI critics claim that these statistical models lack the creativity and intuition of human workers and that they are thus doomed to specific, repetitive tasks. However, this pessimism fundamentally underestimates the power of AI. While AI job automation has already replaced around 400,000 factory jobs in the U.S. from 1990 to 2007, with another 2 million on the way, AI today is automating the economy in a much more subtle way.

Virginia mom April Stringfield is now the owner of Habitat for Humanity’s first 3D-printed home — built in record time, thanks to new construction tech.

The massive time and money savings from 3D printing means the nonprofit is very likely to print more in the future.

Continue reading “3D-printed home cuts construction time from 4 weeks to 28 hours, says Habitat for Humanity” »

We’re moving past the bottleneck of available space launches.

The bottleneck nature of space launches is beginning to change.

Continue reading “A New Wave of Space Companies Is Coming. Can It Help Life on Earth?” »

New anti-corrosion coating increases the economic life and durability of steel machinery.

Bad Neuenahr-Ahrweiler 21/12/2021. The power plant of technical service providers Faber Infrastructure and YESSS Elektro illuminates St. Pius Church and supplies two construction planning office containers with environment-friendly solar power. This is where the consulting engineers of the Ahr Valley Cooperation prepare their damage surveys for the residents affected by the flood disaster in Rhineland-Palatinate’s Ahr Valley – strictly on a cost-covering basis and not for profit.

See also: Economic losses from weather extremes amplify each other.

Blockchain Technology on Mars.

Can a Mars economy be established on top of Blockchain Technologies?

Continue reading “Blockchain Technologies on Mars — Building a cryptocurrencies economy on another planet” »

Some of the churn is transitory. It was hard to act on pent-up job dissatisfaction while economies were in free fall, so there is a post-pandemic backlog of job switches to clear. And more quitting now is not the same as sustained job-hopping later. As Melissa Swift of Mercer, a consultancy, notes, white-collar workers in search of higher purpose will choose a new employer carefully and stay longer.

But there is also reason to believe that higher rates of churn are here to stay. The prevalence of remote working means that more roles are plausible options for more jobseekers. And the pandemic has driven home the precariousness of life at the bottom of the income ladder. Resignation rates are highest in industries, like hospitality, that are full of low-wage workers who have lots of potentially risky face-to-face contact with colleagues and customers.

One conventional solution—identifying a few star performers and bunging them extra money—is not a retention strategy if large chunks of the workforce are thinking differently about their jobs. What should managers be doing?