News 

Boeing drops automation system used to build 777 jets

“The system was developed by Boeing Commercial Airplanes and has been tested in commercial and defense programs, company spokesman Paul Bergman said in an emailed statement” writes Midwest Communications Inc for 95kqds.com. The company began to build 777 fuselages in 2015 in an upright orientation, with robots drilling holes and installing fasteners, an initiative known as fuselage automated upright build (FAUB).(Reuters) – Boeing Co has abandoned a key automation system used to make fuselage sections for its 777 jetliners amid reports of reliability issues, and will instead partially switch back…

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Rockwell Automation Q4 Earnings and Revenues Top Estimates

“Rockwell Automation (ROK) came out with quarterly earnings of $2.01 per share, beating the Zacks Consensus Estimate of $1.92 per share” writes Zacks Equity Research for nasdaq.com. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Rockwell Automation, which belongs to the Zacks Industrial Automation and Robotics industry, posted revenues of $1.73 billion for the quarter ended September 2019, surpassing the Zacks Consensus Estimate by 4.44%.Empirical research shows a strong correlation between near-term stock movements and trends in earnings…

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Markets News 

The global process automation market: statistics you need to know

“Simply, business process automation is the future of the modern workplace. (Making, of course, the process automation market even more lucrative.) The process automation market is one to watch” reports thinkautomation.com. With that in mind, here’s a look at the size and shape of the global process automation market.And this further fans the flames of the global process automation market.So, the process automation market is on the cusp of a global explosion.The process automation market is highly lucrative, and highly likely to boom. Source: thinkautomation.com

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News Platforms 

Hiring platform Fountain, focused on recruiting and onboarding gig, hourly, and part-time workers, raises $23M Series B led by DCM

“The company, which just announced a $23 million funding round, provides a job recruiting and onboarding platform for gig, part-time, and hourly workers” writes Seth Colaner for venturebeat.com. Fountain is fresh off a $23 million funding round, led by DCM, with participation from 51job and previous investors Origin Ventures and Uncork Capital.For example, ZipRecruiter’s Get Recruited platform uses a deep learning-based recommendation algorithm and natural language processing (NLP) to connect job seekers and employers. Source: venturebeat.com

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Do Robots Or Trade Threaten American Workers More?

“In bringing up job losses from trade, Warren was warning against “bad trade policy,” arguing that “bad policy” tends to disproportionately benefit massive corporations” writes Danielle Kurtzleben for npr.org. What happened post-1999 is that the U.S. normalized trade relations with China, and China entered the World Trade Organization.One is of Burnett’s question and one is of Warren’s contention that trade has driven job losses.That study found that trade accounted for about 13% of manufacturing job losses between 2000 and 2010, while productivity gains accounted for nearly 88%. Source: npr.org

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Markets News 

Sweden’s SKF to shift automation into higher gear as markets flag

“My feeling is that it is largely wait-and-see (markets) currently,” he said” writes Midwest Communications Inc for 95kqds.com. The automation of one production channel in Gothenburg in 2016 left 20 workers to run a process that had previously required 100 workers.While the simple hammer would have been much in evidence previously, the switch to automation has brought lower lead times, higher quality and greater flexibility.SKF, which supplies bearings to automotive and industrial markets, has automated manufacturing at a string of plants, but the bulk of its 94 factories still need…

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Bill de Blasio wants to fight automation with a ‘robot tax,’ but he should look at the minimum wage instead

“De Blasio has been a major advocate of a $15 minimum wage, which has been associated with increasing automation” reports washingtonexaminer.com. Many of the largest minimum wage or near-minimum wage professions (such as the food service industry and grocery cashiers) are among the easiest to replace with automation.But if he’s really concerned about the trend, one thing he should take a look at is his support for a $15 minimum wage.In many cases, the trend would be happening regardless of minimum wage policies.A 2017/2018 paper by economists Grace Lordan and…

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The robots are coming for your job, too…

“The scare tactics are a little extreme,” she said in an interview, arguing that reports of tens of millions of American jobs lost by 2030 are probably overstated” writes Story Zachary B for cnn.com. In this way, robots would be taking jobs that humans might not want unless they had to do them, which they currently do.Yang is focused more on the immediate threat he says automation poses to American jobs.Almost everyone who has thought seriously about this has said that more automation is likely to lead to more inequality. Source:…

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