{"id":1233,"date":"2016-01-22T09:39:29","date_gmt":"2016-01-22T09:39:29","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=1233"},"modified":"2016-07-11T22:30:18","modified_gmt":"2016-07-11T22:30:18","slug":"fourth-industrial-revolution-to-increase-inequality-predicts-ubs-report","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/01\/22\/fourth-industrial-revolution-to-increase-inequality-predicts-ubs-report\/","title":{"rendered":"“Fourth industrial revolution” to increase inequality, predicts UBS report"},"content":{"rendered":"

A research paper by UBS has predicted that a combination of automation and connectivity will see the competitive advantage of low labour cost countries shrink, but also lead to rising inequality<\/strong>.<\/p>\n

Released at the 2016 Davos World Economic Forum, the research argues that the effect of the \u201cFourth Industrial Revolution\u201d will have the greatest effect on developing markets.<\/p>\n

It describes the revolution as following steam, electricity and electronics, and involving a joining of \u201cextreme automation\u201d and \u201cextreme connectivity\u201d.<\/strong><\/p>\n

Low-skilled jobs will be affected, and middle class roles will also be increasingly automated out of existence. \u201cMiddle skill\u201d employees would feel the \u201cgreatest disruption\u201d.<\/p>\n

\u201cInequality increases not just between developed and developing and emerging countries<\/strong>,\u201d explained UBS chairman Alex Weber, according to Sputnik News.<\/p>\n

\u201cIt\u2019s also within our society. It will have an impact not only between the rich and the poor but also the young and the old.<\/strong>\u201d<\/p>\n

Tech Republic notes that an increase in aggregate worldwide unemployment, however, is not modelled in the research, with workforce productivity increasing and new jobs being created.<\/p>\n

Also anticipated is a reshoring of manufacturing to higher-wage countries, driven by robotics, automation and 3D printing<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A research paper by UBS has predicted that a combination of automation and connectivity will see the competitive advantage of low labour cost countries shrink, but also lead to rising inequality. Released at the 2016 Davos World Economic Forum, the research argues that the effect of the \u201cFourth Industrial Revolution\u201d will have the greatest effect … Continue reading ““Fourth industrial revolution” to increase inequality, predicts UBS report”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[36],"tags":[],"class_list":["post-1233","post","type-post","status-publish","format-standard","hentry","category-new-ideas"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-jT","jetpack-related-posts":[{"id":742,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/01\/11\/internet-of-things-stimulates-mems-market\/","url_meta":{"origin":1233,"position":0},"title":"Internet of Things stimulates MEMS market","author":"yinghui","date":"January 11, 2015","format":false,"excerpt":"The explosive expansion of the Internet of things (IoT) is driving rapid demand growth for microelectromechanical systems (MEMS) devices in areas including asset-tracking systems, smart grids and building automation. 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