The subdued growth in wages amid an expanding economy and declining unemployment has puzzled many, but one economics professor said he may have an explanation for that phenomenon. The answer lies in automation, according to Christopher Pissarides from the London School of Economics. He explained that technology has helped certain segments of the workforce do their jobs better and subsequently increase their incomes. Technology hasn’t made the same impact on workers at the lower-end, whose salaries have not grown much. That widening income gap is partly why wage growth, on a national level, has been subdued, he told CNBC on Tuesday. “You see successful entrepreneurs becoming wealthy, for example, whereas at the lower end, computerization and robotics don’t do anything for workers at the lower end, like the janitors, the cleaners,” Pissarides, a 2010 Nobel laureate in economic sciences, said at the UBS Greater China Conference in Shanghai. “So, it’s very difficult to see wages rising by their own internal forces at the lower end,” he added. Major central banks such as the Federal Reserve and Bank of Japan are aiming for a 2 percent inflation target, which appeared elusive as wage growth has not caught up with a stronger economy and an improving jobs market. Pissarides said he has always thought central bankers should re-think their inflation goal and set targets that tailor to the circumstances in their respective countries. There’s little that central bankers can do in curbing wage inequality, he said. Governments should support efforts to retrain and upgrade the skills of workers at the lower end, Pissarides said. That’s because new technologies such as artificial intelligence would inevitably replace some jobs, and displaced workers must be able to fill new occupations that are created thereafter, he added.
Industrial Automation Companies
Fairmount Automation delivers innovative control solutions to military, transportation and industrial automation markets. Its products are installed throughout the world, controlling a wide variety of mission-critical and safety-critical processes and machinery. The Company is playing a leading role in the development of automated damage control systems for the U.S. Navy’s new land attack destroyer-the DDG(1000) platform. The successful deployment of these automation systems is critical to meeting the Navy’s target to reduce the crew size of a modern-day destroyer by 60%. Fairmount Automation is a leading manufacturer of rugged controls to customers such as the US. Navy. Our novel Chameleon hybrid Programmable Automation Controller / Programmable Logic Controller product line provides multiple connectivity options, high control availability, and fast performance in a compact, rugged, and cost-effective package. Many of our products are MIL-SPEC designed and tested to MIL-S-901D shock, MIL-STD 461E EMI, MIL-STD 167-1 vibration, and others.
Cloud process & workflow automation
In Automation, Windows PowerShell scripts and workflows-known as runbooks-help you work smarter by handling the creation, deployment, monitoring, and maintenance of Azure resources and partner applications. The Azure Automation Runbook Gallery puts samples, utilities, and scenario runbooks at your fingertips, so that you can get up and running quickly with your automation tasks. Use the Runbook Gallery to browse and import runbooks to your Automation account without leaving the Azure portal.
Automation can enhance your productivity through increased machine tool utilization. To reap the significant competitive advantages that coincide with automation, you must efficiently and effectively integrate it into your operations. We are a single source provider for all your automation needs. To ensure you have the right automation for your facility, we have developed 4 various levels of automation to fulfill your specific production needs.
Abbott Core Laboratory
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Cloud Management and Automation
VMware Cloud Management and Automation certifications are designed to gauge your level of skill installing, configuring, and optimizing VMware vRealize for your cloud solution. Click on the certification you are interested in below to learn more about the requirements, knowledge and skills covered, related training courses, and more.
Automation, vacuum & instrumentation for semiconductor manufacturing, life sciences and other industries.
Razor robots provide the superior performance, reliability, and ultra-cleanliness required for today’s advanced semiconductor manufacturing operations. The Brooks kinematic mounting system, patented motion control technology, and reliable direct drive robotics, Razor robots enable fast set-up, high repeatability, and maximum uptime.
Business Process Automation
When your process needs data from other sources and services, Flow lets you automate data exchange, synchronize files, and more. Use Flow, for example, to copy information entered by a sales team in Microsoft Dynamics to a SharePoint list used by operations. Flow also integrates with on-premises and third-party services.
IT & Infrastructure Automation Solutions
Routine manual tasks consume IT and service desk resources and limit its ability to move ahead with higher-impact strategic projects. Ivanti Automation, powered by RES streamlines the management of complex hybrid environments by automating infrastructure, cloud, and workspace processes required to support the business.