'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
July 19,2020

New Delhi, Jul 19: Three of the 10 most valued companies added a total of Rs 98,622.89 crore to their market valuation last week, led by stellar gains in IT major Infosys.

Seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms -- Reliance Industries Limited, Hindustan Unilever Limited and Infosys.

The market capitalisation of Infosys zoomed Rs 52,046.87 crore to Rs 3,85,027.58 crore. Shares of Infosys had rallied over 9 per cent on Thursday after the company posted a stronger-than-expected 12.4 per cent rise in the first quarter consolidated net profit.

Hindustan Unilever Limited added Rs 25,751.07 crore in its market valuation which stood at Rs 5,48,232.26 crore at close on Friday. Reliance Industries' m-cap jumped Rs 20,824.95 crore to Rs 12,11,682.08 crore.

In contrast, HDFC's valuation plunged Rs 13,920.21 crore to Rs 3,13,269.70 crore and that of Tata Consultancy Services (TCS) declined Rs 7,617.34 crore to Rs 8,26,031.21 crore.

The valuation of ICICI Bank tumbled Rs 4,205.71 crore to Rs 2,29,156.24 crore and that of Kotak Mahindra Bank by Rs 4,175.28 crore to Rs 2,62,864.37 crore.

Bharti Airtel's m-cap dipped Rs 4,009.83 crore to Rs 3,09,521.05 crore and HDFC Bank's by Rs 3,403.97 crore to Rs 6,03,463.97 crore.

The valuation of ITC declined by Rs 368.76 crore to Rs 2,38,469.29 crore.

In the ranking of top-10 firms, RIL was at the number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank.

During the last week, the 30-share BSE index advanced 425.81 points or 1.16 per cent.

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News Network
July 28,2020

Bengaluru, Jul 28: Congress leader Siddaramaiah on Monday alleged that BJP is trying to destabilise the Congress government in Rajasthan.

"It is the duty of the Governor to act according to the decision of the state cabinet. But he is acting like a central government puppet," he said at a protest organised here by Karnataka Pradesh Congress Committee (KPCC).

He said the Congress is protesting across the country to save democracy and save the constitution.

"We are not fighting through violence. We are protesting peacefully. The Constitution has given the right to protest in a democratic system," he said.

He accused the BJP of "being disrespectful" to the Constitution.

"Governments must walk within the framework of the Constitution. The Constitution gives everyone rights and duties. BJP destabilises elected governments and buys our legislators by horse-trading by spending crores of money. The same thing happened in Karnataka as well," he alleged.

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Agencies
July 3,2020

Mumbai, Jul 3: In yet another move to keep Chinese technologies companies at bay, the Centre has cancelled the 4G upgradation tender for BSNL as it has decided to come up with fresh specifications for the upgrade process, sources said.

The Department of Telecommunications (DoT) is likely to issue a fresh tender in the next two weeks.

People in the know said that the fresh tender may not allow Chinese companies to participate and that the new tenders that will be floated in the next two weeks will emphasise on Make in India.

As the border tussle with China escalated last month and around 20 soldiers lost their lives, the government had last month asked both BSNL and MTNL not to use equipment of Chinese makers in their upgrading process to 4G facilities.

Huawei and ZTE are the major Chinese telecom equipment makers working with Indian telecom companies and they would be the hardest hit by the decision.

The impact may be felt in terms of the much-awaited 5G trials in the country. After much deliberation, the Centre last December decided to allow Huawei to take part in the 5G trials.

The cancellation of tender for BSNL's 4G upgradation comes after the Centre on Monday banned 59 Chinese apps including TikTok, WeChat and UC Browser.

A statement by the Ministry of Electronics and IT said that the decision was taken since "there is credible information that these apps are engaged in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order".

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