Daily Archives: June 26, 2017

In its 36th annual general meeting held in Bengaluruon Saturday, IT giant Infosys admitted to releasing 11,000 jobs due to automation. According to Chairman R. Seshasayee, the revenue per full-time employee (FTE) increased by 1.2 percent as a result of automation, utilisation and productivity improvements.

[RELATED READ:The future of work: why all bets are on freelancing and robotics]

The rapid digitisation of everything around us is disrupting entire industries in an irreversible and profound way. As this revolution accelerates, the opportunity for us is two-fold, stated Seshasayee, the Economic Times reported.

The company has been actively encouraging the idea of bringing automation and software-led efficiencies to the core of their technological services for a while now. This, they said, would help them utilise the new technologies in order to innovate better, which in turn, would allow them to assist their clients through their own digital transformations.

Infosys annual report cited that the release of the 11,000 jobs on account of automation is a clear indication of the crucial role that software is to play in the business model of the second-largest IT company in India.

The meeting, which took place at Christ College, was an attempt by the company to clear up all the speculations that the media and others have conjured up, in the past few months. Another key issue that the company addressed was the accusations for wide compensation gap between its top management executives and employees. Recognising the fact that the administration could have worked more efficiently to reduce the gap, the company hoped to assure the masses by putting forth their plan of a restructured compensation package, which would include stock-based rewards.

Additionally, the company also announced their decision to undertake three key transformations for a better future for both itself and its clients. These include business transformation, cultural transformation and transition to independent board.

The first is business transformation from a traditional IT services to an innovation-led software-plus services company, which is formidable enough; second the cultural transformation that comes along when you induct global leadership talent; and third, the abrupt transition from the promoter-led Board to an independent Board, Seshasayee was quoted saying, at the meeting.

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Infosys says it has released 11000 jobs due to automation - YourStory.com

According to a 2013 report from Oxford academics, 47% of workers in America have jobs at high risk of potential automation. Photograph: Mona Chalabi

The robots are coming, the robots are coming!

Regular reports warn us that an automation apocalypse is nigh. In January, a McKinsey & Company study found that about 30% of tasks in 60% of occupations could be computerized and last year, the Bank of Englands chief economist said that 80m US and 15m UK jobs might be taken over by robots.

Of course, not all jobs are created equally. In 2013, a highly cited study by Oxford University academics called The Future of Employment examined 702 common occupations and found that some jobs telemarketers, tax preparers and sports referees are at more risk than others including recreational psychologists, dentists and physicians.

In the past, reports of the death of human jobs have often been greatly exaggerated, and technology has created a lot more jobs than it has wiped out. Its called the Luddite Fallacy, in reference to the 19th century group of textile workers who smashed the new weaving machinery that made their skills redundant. Further, in the last 60 years automation has only eliminated one occupation: elevator operators.

While there have been optimistic predictions that new technology would increase prosperity and lower drudgery, very few of us are working the 15-hour work week that, in 1930, the economist John Maynard Keynes predicted would be the norm for his grandkids. If anything, were working 15-hour days.

Todays technological revolution is an entirely different beast from the industrial revolution. The pace of change is exponentially faster and far wider in scope. As Stanford University academic Jerry Kaplan writes in Humans Need Not Apply: today, automation is blind to the color of your collar. It doesnt matter whether youre a factory worker, a financial advisor or a professional flute-player: automation is coming for you.

Before we get too deep into doom and gloom, its worth stressing that automation isnt synonymous with job losses. Speaking to me over the phone, Frey was quick to point out that his work doesnt make any explicit predictions such as 47% of US jobs will disappear. It simply says that these jobs are exposed to automation.

In other words, the jobs themselves wont entirely vanish; rather, they will be redefined. Of course, as Frey concedes, from the perspective of the worker there is not much of a difference between work disappearing and being radically redefined. Its likely theyll lack the new skillsets required for the role and be out of a job anyway.

H&R Block, one of Americas largest tax preparation providers, is now using Watson, IBMs AI platform

Professor Richard Susskind, author of The Future of the Professions and Tomorrows Lawyers, echoes this distinction. What youre going to see for a lot of jobs is a churn of different tasks, he explains. So a lawyer today doesnt develop systems that offer advice, but the lawyer of 2025 will. Theyll still be called lawyers but theyll be doing different things.

So which professions are at greatest risk?

Martin Ford, futurist and author of Rise of the Robots: Technology and the Threat of a Jobless Future, explains the jobs that are most at risk are those which are on some level routine, repetitive and predictable.

Telemarketing, for example, which is highly routine, has a 99% probability of automation according to The Future of Employment report; you may have already noticed an increase in irritating robocalls. Tax preparation, which involves systematically processing large amounts of predictable data, also faces a 99% chance of being automated. Indeed, technology has already started doing our taxes: H&R Block, one of Americas largest tax preparation providers, is now using Watson, IBMs artificial intelligence platform.

Robots will also take over the more repetitive tasks in professions such as law, with paralegals and legal assistants facing a 94% probability of having their jobs computerized. According to a recent report by Deloitte, more than 100,000 jobs in the legal sector have a high chance of being automated in the next 20 years.

Fast food cooks also face an 81% probability of having their jobs replaced by robots like Flippy, an AI-powered kitchen assistant which is already flipping burgers in a number of CaliBurger restaurants.

Ford, the futurist, classifies resilient jobs in three areas.

The first is jobs that involve genuine creativity, such as being an artist, being a scientist, developing a new business strategy. Ford notes: For now, humans are still best at creativity but theres a caveat there. I cant guarantee you that in 20 years a computer wont be the most creative entity on the planet. There are already computers that can paint original works of art. So, in 20 years who knows how far its going to go?

The second area is occupations that involve building complex relationships with people: nurses, for example, or a business role that requires you to build close relationships with clients.

The third area is jobs that are highly unpredictable for example, if youre a plumber who is called out to emergencies in different locations.

You can see these parameters at play in the jobs The Future of Employment identifies as least at risk of automation, which include recreational therapists, first-line supervisors of mechanics, installers, repairers, occupational therapists and healthcare social workers.

While being in a creative or people-focused industry may keep your job safe for the next 10 years or so, its very hard to predict what will happen 20 years into the future. Indeed, Susskind stresses that we should be wary of downplaying just how much computers might change the working world.

She says she believes that the 2020s are going to be a decade not of unemployment, but of redeployment. Beyond that, however, the picture is far less clear: I dont think anyone can do long-term career planning with any confidence. As Susskind notes, we make assumptions about the indispensability of human beings, but machines are already doing things we thought only humans might be able to. Theyre composing original music, for example, and beating professional players at complex board games with creative moves.

Theyre even helping us with our relationships with God. While the clergy only has a 0.81% probability of automation, according to data from The Future of Jobs, Susskind believes even algorithms might one day replace the ordained. As he notes, there are already apps like Confession which offer drop-down menus for tracking sin.

Machines are already doing things we thought only humans might be able to: composing original music, for example

While weve been doing a lot of robot-bashing, it should be noted that automation isnt the only phenomenon having an impact on the job market. Saadia Zahidi, head of the education, gender and work system initiative at the World Economic Forum (WEF), says that we shouldnt forget that there are other drivers of change.

A 2016 WEF report identified such drivers as climate change, the rise of the middle class in many emerging markets, aging populations in certain parts of Europe and East Asia, and the changing aspirations of women as factors that will have significant impacts on jobs. Its really the coming together of these various drivers of change that then leads to disruptions in the labor market, Zahidi notes.

The report warns that were going to see significant ramifications from automation very soon. Zahidi explains: The next three years will be a period of flux and a period of relatively higher losses than gains. This is not meant to be alarmist in the sense that there will be heavy job losses. But if we do nothing then this will be where we end up.

Automation may also exacerbate gender inequality, Zahidi says. Women dont make up a large proportion of people who are going into science, technology, engineering and math (Stem) and IT fields, which are likely to be the areas in which jobs will grow. On the other hand, Zahidi notes, there do tend to be more women in care-related professions, such as healthcare and education, which are at a lower risk of automation.

In the long run, women may actually end up faring better from technological change. A recent PricewaterhouseCoopers report found that a higher proportion of male than female jobs are at risk of automation, especially those of men with lower levels of education.

Justin Tobin, founder of the innovation consultancy DDG, says he believes: More and more independent thinkers are realizing that when being an employee is the equivalent to putting all your money into one stock a better strategy is to diversify your portfolio. So youre seeing a lot more people looking to diversify their career.

Faith Popcorn, a futurist, echoes the idea that we will all have to become as agile as possible and have many forms of talent and work that you can provide the economy.

In the future, she says, well all have seven or eight jobs, with the average adult working for a number of companies simultaneously rather than working for one big corporation.

Were in the midst of this huge sweeping change that is going to impact all levels of society, Popcorn warns.

Predicting the future is Popcorns livelihood, and shes made herself a bit of a legend over the years doing so, but even she seems a little unsettled by the pace of change today. As she tells me with a world-weary sigh, it just makes you want to have some more tequila.

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What jobs will still be around in 20 years? Read this to prepare your future - The Guardian

The industrial automation market for oil & gas is expected to reach USD 15.52 billion by 2023, at a CAGR of 3.2% between 2017 and 2023.

Key driving factors for the growth of the industrial automation market for oil & gas are the need for optimum and effective exploration of aging reservoirs and the Internet of Things adding value to the industrial automation for the oil & gas industry.

DCS is expected to hold a major share of the industrial automation market for oil & gas during the forecast period.

Distributed control system (DCS) is expected to hold a major share of the market by 2023.

The distributed control system controls various components that are distributed in the overall system of industrial automation for oil & gas, enabling the maintenance of digital communication between various components such as distributed controllers, workstations, and other computing elements.

The DCS controls processes such as oil & gas refineries, pipeline transport, and extraction in the oil & gas industry.

Field instruments market expected to hold the largest size of the industrial automation market for oil & gas

The field instruments market is expected to hold the largest size of the industrial automation market for oil & gas in 2017.

Field instruments comprise three types of transmitterspressure, temperature, and flow, which are used for various processes involved in instrumentation.

Pressure transmitters are extensively used in the oil and gas sector for the measurement of flow, level, pressure, density, and viscosity, among which flow measurement is the most common application area.

"The industrial automation market for oil & gas is expected to exhibit significant growth potential between 2017 and 2023" The industrial automation market for oil & gas is expected to reach USD 15.52 billion by 2023, at a CAGR of 3.2% between 2017 and 2023. Key driving factors for the growth of the industrial automation market for oil & gas are the need for optimum and effective exploration of aging reservoirs and the Internet of Things adding value to the industrial automation for the oil & gas industry. However, the instability of the oil & gas market in Middle Eastern countries, increasing shift toward the adoption of renewable energy sources, and declining and fluctuating oil and gas prices are considered to be major restraints for the industrial automation market for oil & gas.

"DCS is expected to hold a major share of the industrial automation market for oil & gas during the forecast period." Distributed control system (DCS) is expected to hold a major share of the market by 2023. The distributed control system controls various components that are distributed in the overall system of industrial automation for oil & gas, enabling the maintenance of digital communication between various components such as distributed controllers, workstations, and other computing elements. The DCS controls processes such as oil & gas refineries, pipeline transport, and extraction in the oil & gas industry.

"Field instruments market expected to hold the largest size of the industrial automation market for oil & gas" The field instruments market is expected to hold the largest size of the industrial automation market for oil & gas in 2017. Field instruments comprise three types of transmitterspressure, temperature, and flow, which are used for various processes involved in instrumentation. Pressure transmitters are extensively used in the oil and gas sector for the measurement of flow, level, pressure, density, and viscosity, among which flow measurement is the most common application area.

"The industrial automation market for oil & gas in APAC expected to grow at the highest rate during the forecast period" The industrial automation market for oil & gas in APAC is expected to grow at the highest rate between 2017 and 2023. The demand for industrial automation for oil & gas is very high in APAC owing to the increase in the number of refinery plants and other related plants in the oil & gas industry. The implementation of automation is increasing in APAC because of the rising demand for high-quality products along with increased production rates. It also helps reduce labor costs and human interference.

Breakdown of the profiles of primary participants for the report has been given below:

By Company Type: Tier 1 = 49%, Tier 2 = 30%, and Tier 3 = 21% By Designation: C-Level Executives = 58%, Directors = 28%, and Others = 14% By Region: The Americas = 35%, Europe = 19%, APAC = 30%, and the Middle East and Africa = 16%

The key players in the industrial automation market for oil & gas include ABB (Switzerland), Emerson Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Endress+Hauser AG (Switzerland), General Electric Co. (US), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (US), and Yokogawa Electric Corporation (Japan).

Research Coverage The research report analyzes the industrial automation market for oil & gas based on solution, instrument, and geography. The market has been segmented on the basis of solution into supervisory control and data acquisition (SCADA), programmable logic controller (PLC), humanmachine interface (HMI), distributed control systems (DCS), safety automation, advanced process control (APC), and manufacturing execution system (MES). On the basis of instruments, the industrial automation market for oil & gas has been classified into field instruments, control valves, leakage detection system, and flow computer. The report covers the market segmented on the basis of 4 major regions: the Americas, Europe, APAC, and the Middle East and Africa.

Key Benefits of Buying the Report: Illustrative segmentation, analysis, and forecast for the market based on solution, instrument, and geography have been conducted to give an overall view of the industrial automation market for oil & gas. The value chain analysis has been utilized to provide an in-depth insight into the industrial automation market for oil & gas. Major drivers, restraints, opportunities, and challenges for the industrial automation market for oil & gas have been detailed in this report. The report includes a detailed competitive landscape along with key players and their revenue. Read the full report: http://www.reportlinker.com/p04960853/Industrial-Automation-Market-for-Oil-Gas-by-Solution-Instruments-and-Geography-Global-Forecast-to.html

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/industrial-automation-market-is-expected-to-reach-usd-1552-billion-by-2023-300479730.html

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Industrial Automation Market is expected to reach USD 15.52 billion by 2023 - PR Newswire (press release)

President Trump promised to bring back the coal industry. Coal mining is now a highly-automated industry requiring far fewer miners than in decades past. However, Trump never discusses the fact that cheap abundant natural gas is replacing coal along with renewable sources. Modern combined-cycle natural gas plants are nearly twice as efficient as our older single-cycle coal power plants.

Most of our coal plants are 40 to 50 years old and are at the end of their life cycles. Wall Street banks refuse to finance new coal plants while the costs of renewable sources and natural gas power plants are replacing coal plants everywhere. The Sierra Club tracks coal plants saying over 200 coal plants have been shut down in the last decade with hundreds more coal plant closings on the way in coming years. The coal industry analysts say coal is on a bleak permanent decline that will never be reversed because natural gas, solar and wind turbines are more cost effective period.

The Trump cult also blames undocumented immigrants and global trade agreements for the decline of the manufacturing labor force in America. Most economists will tell you immigrants and global trade agreements make our country stronger.

Trump also promised to bring back labor intensive manufacturing jobs in the Rustbelt states. At least 85 percent or more of the decline of manufacturing jobs in the industrial Midwest over the last 30 years have been because of automation in the workplace.

Trump has promised to revive the steel industry as well. Modern steel minimills are now highly automated but produce large amounts of recycled steel with only a few highly-skilled workers. Most modern manufacturing plants only employ about one-fifth the number of workers they did 30 years ago. A General Motors plant that employed 25,000 workers in 1980 would today only employs about 5,000 workers to produce the same number of cars. Most industrial jobs require a worker to have excellent computer skills as a precondition of employment.

Automation will likely displace at least five million more workers by 2020. How will the cult of Trump compete against industrial robots and machine tools controlled by artificial intelligence in the 21st-century workplace?

We need a Medicare public option that makes health care more portable for workers with vastly improved vocational and technical retraining programs that help displaced workers find the high-tech jobs that exist. We must learn to adapt to automation in the information technology economy of the future. The Trump cult wants to go back to the industrial age of the 20th century that is the road to nowhere in the automated computer information age of the 21st century.

Stoutenburg lives in Moorhead.

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Letter: Automation rapidly changing 21st century workplace - INFORUM