Earlier adopters of Flippy are likely to be 24-hour kitchens; such as those in truck stops, and diners like Denny’s (NYSE: DENN). Next will come military mess halls, hospitals and restaurants in areas with high costs of living. Any restaurant in an area with labor shortages and operators of kitchens in remote locations will definitely be interested.Read more
Publicity about the possible automation caused McDonald’s share price to increase by $38 a share during the week of June 19 to 23, CNBC reported. Mickey D’s shares went from $142 to $180 in just a few days. They fell back to $154 on Monday June 26, 2017, but were still grossly overpriced.Read more
As you can see all four waves of Technological Unemployment are ongoing and simultaneous. The phenomenon is driven by technological progress, a development that began long before our grandparents were born and will be ongoing long after our grandchildren are dead.
It also means that there are several threats to our jobs as technologies and techniques from the different waves get combined. For example an automobile, a first wave machine can be combined with a computer; a third wave device, and an artificial intelligence – a fourth wave technology – to produce a self-driving car.Read more
The world’s richest man wants robots to pay income tax – if they take humans’ jobs.
Bill Gates endorsed the idea of a “robot tax;” on automations that replace human workers, in video interview with Quartz editor in chief Kevin Delaney.Read more
The jobs apocalypse is about to get far worse because the machines have figured out how to learn. We had better get ready because AIs like Libratus will soon destroy hundreds of not thousands of highly paying jobs.Read more
The Public Pension Crisis. State and local governments across the nation have accumulated $4.798 trillion in pension obligations, but they have only $3.607 to cover the promises to employees, The Hoover Institution calculated. That means they will have to come up with $1.91 trillion, and the most likely place it will come from is cutting basic government services.Read more
We must learn to understand Luddism and deal with it because the Luddites are coming. Many of them are already here but many more are on the way. If technologists do not find ways of dealing with Luddites and their arguments there will be violence and people will get hurt.Read more
If this trend progresses to its logical end bank tellers will disappear much like elevator operators did. It also raises a fascinating question: what will communities do with all those empty bank buildings?Read more
This anecdotal evidence indicates that poverty is getting worse in America but the presidential candidates refuse to talk about it. Indeed they are actively avoiding just like almost every other candidate running for office today. One has to ask why?Read more
The nation’s largest retailer is planning to eliminate hundreds of back office jobs at its stores, Market Watch reported. The jobs eliminated will be clerical positions in accounting and invoicing.Read more