What do you guys think about this? In light of all the political talk about immigrants taking jobs away from the "hard working citizens of America" Do we fail to remember the increasing technological achievements that are making some jobs obsolete? Especially in the banking industry. Do you all see these robots as a serious threat to the job market?
http://money.cnn.com/2016/04/04/investing/bank-jobs-dying-automation-citigroup/index.html?iid=hp-stack-dom
Brian, interesting article. I didn't realize that technological innovation was beginning to cause people to lose their jobs in the financial sector the same way it has affected many manufacturing-related sectors throughout recent years. Nevertheless, I don't think there is an issue with this. It's unfortunate that some people might lose their jobs, but this is a big incentive for individuals to educate themselves. Increasing technological advancements do tend to make certain jobs obsolete, but this has always been the case. Pinsetters have been replaced at bowling alleys, and the invention of the light bulb put a lot of lamplighters out of work, but we've seemed to be alright since then. Also, when one door closes, another opens. There's a huge demand for IT folk and computer programmers nowadays. I think this will just cause more people to look toward higher education within the field of IT or programming moving ahead.
ReplyDeleteI totally agree with you here Mario. Like you said, some jobs may become obsolete, but I think that's a "necessary evil" of technological progress. I think the gains on efficient far outweigh the negatives. Some of the best advice I got going into college was to try and pick a job or a career field that would be difficult to automate. This has pushed me to look into fields where creativity, critical thinking, and problem-solving are valued, as they are difficult traits to automate.
Deleteefficiency*
DeleteI do agree with Mario that there has been technological advancements replacing jobs historically. Increasing demand in IT and computer programmers could be an incentive for individuals to educate themselves. Lately, technology has become more sophisticated that machines/robots now can perform higher cognitive tasks with the influx of big data. An expert from the article that I found said that technological advancements will change faster than we can handle. Now technology is challenging white-collar professions. This change could be coming sooner than we expect.
ReplyDeletehttp://fortune.com/2015/02/25/5-jobs-that-robots-already-are-taking/
As technology has increased, we have shifted to a more service oriented job market. So while technology has caused a loss of jobs in certain sectors, there has been significant growth in other sectors. Higher education will continue to be an issue, seeing as many of these new jobs require a bachelor's degree.
ReplyDeleteI think that robots are a serious threat to the job market, especially in finance sector. Instead of hiring bookeepers and accountants who make mistakes, robots will replace them with higher sunk costs, but robots will last longer and will not make mistakes that people tend to make. Instead of analyzing one chunk of data, robots will analyze multiple chunks of data at the same time.
ReplyDeleteMy question is, will higher education really be worth its costs? Will we get jobs after graduation compensating all the time and money we have invested?