History, logic, and economic analysis all strongly point to the conclusion that the next technology wave, powered by artificial intelligence and robotics, will not lead to above average unemployment levels and that we will not run out of work. What it could do however, is significantly improve labor productivity growth rates, making society better off and boost per-capita incomes for virtually all Americans.
Republican Senators Orrin Hatch and Jeff Flake introduced legislation on Thursday that aims to increase the annual quota of H-1B visas from 65,000 to 85,000. The H-1B is a common work visa granted to high-skilled foreigners to work at companies in the U.S. It's valid for three years, and can be renewed for another three years.
Calling it an "old strategy," 100Kin10 is also watching as lawmakers increasingly turn to legislation to streamline emergency credentialing of teachers to address crisis-level teacher shortages. In Virginia, for example, the governor turned to executive directive to allow state colleges and universities, which have previously only offered graduate level teaching degrees, to offer undergraduate majors in teaching too.
Those conclusions, from a study released Monday at the World Economic Forum, show about 57 percent of the 1.4 million U.S. jobs to be disrupted by technology between now and 2026 are held by women. With proper retraining, most of the workers would find new, higher-paying jobs. Without it, very few have opportunities, but women fare the worst, according to the study, conducted in collaboration with the Boston Consulting Group. Making the transition will be expensive and difficult, the authors said.
Over the next decade, an estimated 2 million manufacturing jobs in the U.S. will go unfilled. A 2014 study by Deloitte reports that the manufacturing skills gap will drive this deficit. According to the same study, about 70 percent of manufacturing CEOs say their workforce currently lacks technology, computer, basic technical and problem solving skills, while 78 percent said these shortcomings will hamper technological growth in U.S.
Apple (AAPL) said it will build a second corporate campus and hire 20,000 workers in a $350 billion, five-year commitment to the U.S. economy. Apple, the world's biggest company by market capitalization, said Wednesday it will contribute $75 billion of that amount through investments in American manufacturing, planned capital expenditures and what it called a "record" tax payment after it repatriates overseas profits.
College students pursuing degrees in science, technology, engineering or math (STEM) are confident about their job prospects. In fact, in a recent survey, they expressed more confidence than their peers who are pursuing degrees in the liberal arts, business or public service.
Google has poured billions into artificial intelligence, a technology that many expect will render jobs across several fields obsolete. Last year, Google Chief Executive Officer Sundar Pichai introduced a companywide initiative focused on employment. He announced Google would give $1 billion over five years to nonprofits in the field.
Artificial intelligence (AI) could be the biggest challenge facing the jobs market and even humanity itself, according to Nobel Prize-winning economist Robert Shiller. However, the Yale University professor told CNBC that he had a radical idea that could be implemented to mitigate AI's potential harm to society.
Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers -- an estimated $55 billion for 2018 -- Apple's direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products.