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Is Work Tech A Threat To Job Security?

Advances in technology are proving a lifesaver for businesses up and down the United States, but has left many fearing for their jobs. Will technology replace jobs of humans in the future?

“Over the next 10–20 years, technology will affect almost every occupation”

According to nature.com, a report published by the US National Academies of Sciences, Engineering, and Medicine details the impacts of information technology on the workforce, and the findings are startling.

“Over the next 10–20 years, technology will affect almost every occupation. For example, self-driving vehicles could slash the need for drivers of taxis and long-haul trucks, and online education could enrich options for retraining of displaced workers,” the website writes.

Work tech - replacing human workersThe Fourth Industrial Revolution is well and truly upon us, and critics have suggested that policymakers are flying blind into this new digital age and are not really looking at the bigger picture when it comes to the impact technology will have on the human population and its workforce.

Bold questions are being asked on this very topic. What job opportunities are being created by the emergence of modern technologies and what jobs are being lost because of them? The plausible imbalance between gained and lost jobs is weighing heavily on the minds of many industry bigwigs.

Robots in the healthcare industry are already being perfected to conduct the jobs that are currently undertaken by humans, including: surgery, hospital logistics, cleaning robots, disinfectant robots, administration, robots used for rehabilitation, and many other areas. It’s not just healthcare adopting this tact either, technology over-rule is evident in many sectors right across America.

It’s without much debate that technological advancements should be used for the likes of administrative functions, where filing, analyzing and managing data is improved using online-based systems, but the questions lie in whether technology and even robots should be used to replace humans when there is no factual evidence to determine which is more effective – human or robot.

Work tech - robots in healthcareNature.com has called for “the creation of an integrated information strategy to combine public and privately held data. This would provide policymakers and the public with ways to negotiate the evolving and unpredictable impacts of technology on the workforce.”

The key here is to ensure that policymakers are aware of the growing workforce shift upon us, and to implement an effective strategy to tackle the issues faced. One way to achieve this is by analyzing data to determine the best outcome and to act accordingly.

Most of the data needed to pinpoint, understand and adapt to workforce challenges is not gathered in a systematic way. Despite the influx of online data, decision-makers tend to lack timely, relevant information or lack the resources to be able to respond to the findings.

Governments are being encouraged to learn the lessons of data driven decision-making and experimentation to tackle the long-term problems accumulating. To be able to act effectively to the technology revolution upon us, and to limit the damage caused within the workplace, is key to securing the future of humanity.

Solar Energy vs Fossil Fuels: What is dominating the energy industry now?

The solar energy vs fossil fuels debate has reached a fever pitch of late. Experts have predicted the near enough extinction of fossil fuels within the next few decades. However, although there will be a shift from fossil fuels in due course, it won’t happen anytime soon. According to energysage, fossil fuels still power most of the planet. Renewable energy sources like solar and wind only contribute 2-3 percent of global energy needs.

Notably, solar power is a more environment-friendly source of energy. It’s debatably a more rounded and sustainable source. Costs and other factors play a key role in energy successes, however. U.S. government subsidies play a pivotal role in shaping the growth potential for renewable energy. Therefore, comparing numbers between solar and fossil fuels in the ongoing solar energy vs fossil fuels debate can be extremely difficult.

a photo of a black-and-white Earth with a note that says "2-3%" on top of it, in relation to the debate on solar energy vs fossil fuels

Other Details on Solar Energy vs Fossil Fuels

The G20 nations agreed to begin phasing out fossil fuels in 2009. However, this case appears to be plodding along on the back burner, as fossil fuels are still proving effective. According to the Oil Change International report, the G20 makes up more than 85 percent of global GDP. They also spend $452 billion a year to subsidize fossil fuels. Markedly, the United States is the largest user of fossil fuels in the world. President Trump is likely to ensure American energy continues the same course of heavy fossil fuel subsidization.

In truth, solar power is subject to the investment tax credit, which covers 30 percent of any residential solar installation. The commercial sector will receive a permanent 10 percent tax credit, and technology advancements have seen lower costs. It means solar energy has the potential to be the cheaper of the two energy sources. On the other side of the fence, oil, gas, and coal are fossil fuels which need to be mined then nurtured to market. Solar energy is generated by developing technology to capture the renewable energy source. It’s not a fuel within itself. Experts have said that costs will continue to fall as technology becomes more advanced.

On the Rise of Solar Energy: Hurdles and Bold Steps

Energy companies are today developing solar PV projects that can deliver energy at half the cost of coal. The uptake is slower than originally predicted but is set to take off as natural resources become scarce. Solar can easily be installed on any surface to harnesses an already available resource. By comparison, fossil fuels require mining and then nurturing to market which can cause many negative environmental impacts. The only real negative to solar energy is that it hasn’t received universal acceptance yet. Governments must also invest in energy storage solutions to capture the energy that solar panels can harvest.

Still, the solar industry is taking bold steps toward overcoming these hurdles. Advanced research and development techniques are being discovered to improve PV hardware. More effective and efficient energy storage solutions are being developed. Moreover, governments are moving more toward adopting solar technology on a wider scale. Until this ideal can be achieved, fossil fuels will most definitely dominate the energy industry.

Corporate Bond Markets Start Using Digitization Tools

Stock markets have been using automated trading tools for a long time now. Nowadays, the digitization of these programs buy and sell more stocks on their own and without any human intervention, than human initiated sales. Even with the successful implementation of automated sales programs for the stock market, these bold tools have not been implemented as much as on digital transformation in capital markets.


According to The Economist, one reason why automated trading tools are not used in bonds is due to the lack of action. There was never enough volume or enough trades to warrant the use of automation. Additionally, the trading programs have been limited in scope and allow only dealers to instigate sales. That is about to change as the current crop of new tools allow bond trading no matter who instigates. Or to put it in a different context, everyone is a dealer.

It was not an overnight development. Tradeweb started trading in a limited number of US Treasury bonds in 1998. The electronic trades have grown steadily and now account for around half of U.S. Treasury bonds, and 60% of European government bonds. Corporate bonds have not been keeping up, however, as estimates show that only 25% of corporate bonds are traded electronically.

Digitization - Financial trading automated

One reason for this is the diversity in type of corporate bonds. The diversity stems from the quality of the bond sale, as well as the hierarchy of payment of these debt instruments. One use of corporate bonds is to float funds or raise funds as a tradable debt. However, each bond release also has a hierarchy of payment in case the company files for bankruptcy. It is ironic that this should happen since bonds are usually used as additional capital and can be an instrument for growth or to prevent bankruptcy.

With the new model of trading corporate bonds, it is not only the dealer who can buy and sell, but also the fund manager, and everyone else who can get their hands on funds or bonds. This creates an environment where there is competition to buy and sell bonds. The demand increases because of this. Instead of a bond being traded once or twice a year, it is now being traded up to five times annually.

Unlike digital currencies such as bitcoin, bonds are well-accepted and stable financial product. Digitization may soon come to bond trading, as there is now a bold initiative to fully automate the bond trading process. There are also protocols being set in place setting scenarios for different manners of bond trades, including buying a different bond with the sale of bonds, or of hedging the money from the sale of bonds. This will impact on the liquidity of the market.

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