How much will technology change affect labor? Results from a 2017 MITSloan study found that less than half of company leaders surveyed though AI and automation would reduce their company’s workforce in the next five years. But changes are still on the horizon.
Consider these companies:
- The Moby Mart, a store on wheels, brings groceries to customers in Shanghai. Unlike most other retailers, each mobile store has no staff, not even cashiers.
- The Aidyia hedge fund consolidates recommendations generated with multiple types of artificial intelligence. Free from the constraints of physical products, algorithms trade digital assets without human involvement.
- BottleKeeper, a producer of stainless steel containers, has no employees.
Read more about how AI and automation is already changing how work gets done here.
How Will Automation Affect Different U.S. Cities?
Jobs in small cities will likely be hit hardest. Check how your community and profession will fare.
People tend to assume that automation will affect every locale in the same, homogeneous way, says Hyejin Youn, an assistant professor of management and organization at Kellogg. “They have never thought of how this is unequally distributed across cities, across regions in the U.S.”
It is a high-stakes question. The knowledge that certain places will lose more jobs could allow workers and industries to better prepare for the change and could help city leaders ensure their local economies are poised to rebound.
In new research, Youn and colleagues seek to understand how machines will disrupt the economies of individual cities. By carefully analyzing the workforces of American metropolitan areas, the team calculated what portion of jobs in each area is likely to be automated in coming decades.
To read more of about this study, click here.