'Technophobes' more likely to fear losing jobs: study

March 23, 2017

Houston, Mar 23: 'Technophobes' - people who fear robots, artificial intelligence and new technology - are much more likely to be afraid of losing their jobs and suffer anxiety-related mental health issues, a new study suggests.machines

Over a third of people in the study were more fearful of automation that could lead to job displacement than they were of potentially threatening or dangerous circumstances such as romantic rejection, public speaking and police brutality, researchers found.

"If you're afraid of losing your job to a robot, you are not alone," said researcher Paul McClure, a sociologist at Baylor University in the US.

Previous research has found that employees with little job security suffer from poorer mental health and that unemployment and job insecurity are often linked to heart disease and mortality rates.

The new study found that those in historically marginalised groups - women, non-whites and the less educated - report being most fearful of technology.

Technophobes are three times more likely to be fearful of unemployment when compared to others, and nearly thrice more likely to fear not having enough money in the future.

They also have 95 per cent greater odds of not being able to stop or control worrying when compared to others, and 76 per cent greater odds of feeling as if something awful might happen, researchers found.

In the study, 1,541 respondents were asked about their fears and worries about politics, crime, natural and human-made disasters, technology, mental health and unemployment.

They also were asked about their anxieties, worries, sleep patterns, restlessness, inability to relax, susceptibility to irritation and feelings of dread.

Anxiety about job loss to automation is nothing new, McClure said, noting that 19th-century textile workers in England destroyed new machines to protest against employers who used inventions that allowed for faster and cheaper labor by less-skilled workers.

However, some researchers in economics caution that the impact of robotics and artificial intelligence in the next several years will be much more rapid than job displacement of the past - particularly for those with routine job responsibilities.

Those potentially could span the blue- and white-collar divide, from truck drivers and warehouse workers to loan officers and paralegals, rather than manual labourers in non-routine jobs or workers in creative fields, McClure added.

The study was published in the journal Social Science Computer Review.

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Agencies
January 12,2020

Washington D.C., Jan 12: A recent study has claimed that people end up wasting almost an entire day when they take a vacation.

This can happen while standing in a queue or searching for places to visit, people do not keep a count of the time they have actually utilised during the trip. As a result, they end up doing much lesser activities than they originally had planned.

According to a recent report in Fox News, the study has also shared the fact that people try to justify time waste with planning and scheduling activities whereas the truth is that these things can be done well ahead to save time during the trip.

The average time waste according to the study commissioned by Sykes Holiday Cottages also said the people taking a seven days' trip waste a minimum of 17-and-a-half hours to figure out various factors.

But there are other causes involved as well. When one visits any crowded location, the real-time spent to enjoy the location is lesser than the time spent on reaching and trying to get involved. For instance, if one visits an amusement park, the activities take lesser time than the preparatory and other phases.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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News Network
January 17,2020

New Delhi, Jan 17: E-commerce major Amazon on Friday said it plans to create one million new jobs in India over the next five years through investments in technology, infrastructure and its logistics network.

These jobs are in addition to the seven lakh jobs Amazon's investments have enabled over the last six years in the country.

"Amazon plans to create one million new jobs in India by 2025," the company said in a statement, adding that the jobs - created both directly and indirectly - will be across industries, including information technology, skill development, content creation, retail, logistics, and manufacturing.

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025.

"We are investing to create a million new jobs here in India over the next five years," Bezos said.

"We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we've partnered with, and great enthusiasm from the customers who shop with us—and we’re excited about what lies ahead," Bezos added.

India has prioritised job creation and skilling initiatives – including the training of more than 400 million people by 2022 – in rural and urban areas.

"Amazon’s job creation commitment and investment in traders and micro, small and medium enterprises (MSMEs) complement this social inclusion and social mobility efforts by creating more opportunities for people in India to find employment, build skills, and expand entrepreneurship opportunities," the statement said.

The new investments will help to hire talent to fill roles across Amazon in India, including software development engineering, cloud computing, content creation, and customer support.

Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the United States and the largest building globally in terms of employees (15,000) and space (9.5 acres).

The investments will also help in expanding growth opportunities for the more than 5,50,000 traders and micro, small, and medium-sized businesses – including local shops – through programs like Saheli, Karigar, and “I Have Space”.

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