{"id":154036,"date":"2017-02-06T17:15:29","date_gmt":"2017-02-06T22:15:29","guid":{"rendered":"https:\/\/cals.ncsu.edu\/?p=154036"},"modified":"2017-08-24T10:23:47","modified_gmt":"2017-08-24T14:23:47","slug":"economic-perspective-the-pace-of-automation","status":"publish","type":"post","link":"https:\/\/cals.ncsu.edu\/news\/economic-perspective-the-pace-of-automation\/","title":{"rendered":"Economic Perspective: The Pace of Automation"},"content":{"rendered":"

https:\/\/soundcloud.com\/user-653135353\/economic-perspective-the-pace-of-automation<\/a><\/p>\n

MARY WALDEN:<\/b><\/p>\n

\u201cToday\u2019s program looks at the pace of automation. Mike, most experts agree that technology and machinery will continue to replace people in the performance of some job tasks. Indeed, you participated in a conference last year examining the potential for automation in North Carolina.\u201d<\/span><\/p>\n

\u201cYet I understand there is disagreement among the experts as to how fast machines will be able to replace humans. Please explain.\u201d<\/span><\/p>\n

 <\/p>\n

MIKE WALDEN:<\/b><\/p>\n

\u201cWell we do have a wide variety of forecasts here. I mean, everyone agrees that automation is increasing and it\u2019s coming. It is going to result in some job loss. Some say maybe half the jobs we now have won\u2019t be here in 40 years. Others say, \u2018No, much less. Maybe 10 percent of jobs will be replaced with automation.\u2019 So there is a range there.\u201d<\/span><\/p>\n

\u201cWe have a new study from the McKenzie Global Institute. They take sort of a middle ground. They say that , \u2018Yes automation is coming. It\u2019s probably not going to be as big as some expected.\u2019 And they argue that it\u2019s going to come at a gradual pace. They see many jobs not necessarily replaced by technology but transformed.\u201d<\/span><\/p>\n

\u201cThat means the individual performing that job will have to be retrained to use the technology, but I think that\u2019s certainly worthy of consideration. They also see that there\u2019s going to be a big cost to switching for many businesses switching to technology. That may hold back the transformation of some jobs from human supplied to technology supplied. <\/span><\/p>\n

McKenzie though, given all this, they do see that we are going to have technology induced unemployment, and they argue that the biggest challenge here is will new jobs be created for those released and if so, what kind of changes to our educational system do we need in order to make sure that people do have jobs in the future.\u201d <\/span><\/p>\n","protected":false,"raw":"[embed]https:\/\/soundcloud.com\/user-653135353\/economic-perspective-the-pace-of-automation[\/embed]\r\n

MARY WALDEN:<\/b><\/p>\r\n\u201cToday\u2019s program looks at the pace of automation. Mike, most experts agree that technology and machinery will continue to replace people in the performance of some job tasks. Indeed, you participated in a conference last year examining the potential for automation in North Carolina.\u201d<\/span>\r\n\r\n\u201cYet I understand there is disagreement among the experts as to how fast machines will be able to replace humans. Please explain.\u201d<\/span>\r\n\r\n \r\n

MIKE WALDEN:<\/b><\/p>\r\n\u201cWell we do have a wide variety of forecasts here. I mean, everyone agrees that automation is increasing and it\u2019s coming. It is going to result in some job loss. Some say maybe half the jobs we now have won\u2019t be here in 40 years. Others say, \u2018No, much less. Maybe 10 percent of jobs will be replaced with automation.\u2019 So there is a range there.\u201d<\/span>\r\n\r\n\u201cWe have a new study from the McKenzie Global Institute. They take sort of a middle ground. They say that , \u2018Yes automation is coming. It\u2019s probably not going to be as big as some expected.\u2019 And they argue that it\u2019s going to come at a gradual pace. They see many jobs not necessarily replaced by technology but transformed.\u201d<\/span>\r\n\r\n\u201cThat means the individual performing that job will have to be retrained to use the technology, but I think that\u2019s certainly worthy of consideration. They also see that there\u2019s going to be a big cost to switching for many businesses switching to technology. That may hold back the transformation of some jobs from human supplied to technology supplied. <\/span>\r\n\r\nMcKenzie though, given all this, they do see that we are going to have technology induced unemployment, and they argue that the biggest challenge here is will new jobs be created for those released and if so, what kind of changes to our educational system do we need in order to make sure that people do have jobs in the future.\u201d <\/span>"},"excerpt":{"rendered":"

The rate at which automation replaces human labor in the work force has been a constantly discussed topic in economics. Yet, economists can’t seem to agree on the potential rate at which the jobs will be switched out over time. Mike Walden discusses the potential trends, and what outcomes they could have for the workforce.<\/p>\n","protected":false},"author":36,"featured_media":145215,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"source":"","ncst_custom_author":"","ncst_show_custom_author":false,"ncst_dynamicHeaderBlockName":"","ncst_dynamicHeaderData":"","ncst_content_audit_freq":"","ncst_content_audit_date":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[59,1181],"tags":[141],"_ncst_magazine_issue":[],"coauthors":[],"class_list":["post-154036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-perspective","category-newswire","tag-mike-walden"],"displayCategory":null,"acf":[],"_links":{"self":[{"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/posts\/154036"}],"collection":[{"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/comments?post=154036"}],"version-history":[{"count":2,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/posts\/154036\/revisions"}],"predecessor-version":[{"id":158754,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/posts\/154036\/revisions\/158754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/media\/145215"}],"wp:attachment":[{"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/media?parent=154036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/categories?post=154036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/tags?post=154036"},{"taxonomy":"_ncst_magazine_issue","embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/_ncst_magazine_issue?post=154036"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/cals.ncsu.edu\/wp-json\/wp\/v2\/coauthors?post=154036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}