1. Which of the following is the largest number of jobs that could theoretically be within the software industry at present, based on the information available?A) 1,4 millionB) 2,4 millionC) 4 millionD) 8 millionE) 10 million2. How does the average Waste Management annual salary compare with that of Switzerland as a whole country?A) Waste Management between CHF 11,000 and CHF 13,000 less than averageB) Waste Management between CHF 9,000 and CHF 11,000 less than average C) Waste Management between CHF 7,000 and CHF 9,000 less than averageD) Waste Management between CHF 5,000 and CHF 7,000 less than averageE) Waste Management between CHF 3,000 and CHF 5,000 less than average s.jpegPreparingfor AutomationThe possibility of having robots ormechanical assistants completing ourlaborious, dangerous, or repetitiveday-to-day tasks has long been adream of humanity. Now, as RoboticProcess Automation (RPA) becomescommonplace, this dream-orconcern, depending on viewpoint-is getting closer.RPA, far from the walking, talking androidcommonly found in science fiction series,can be thought of as a programmablepiece of software which, through usinga series of rules, will complete repetitivetasks with a lower error rate and lessinterruption than a human completingthe same tasks. The aim of RPA, beyondimproving efficiency, is to free uphumans from the monotony of roleslike data entry, stock management andpredictable physical work, to focus onmore critical, unpredictable tasks suchas decision making, interpreting, anddelivering insight to customers.The Human ElementPosted on July 18th, 2020 | 0 commentsAsk any expert and you can almostguarantee that they will inform youthat years of data reliably point tothe conclusion that automation hasalways created more jobs than it hasremoved. The invention of the ploughhas allowed us to stop working on farmsand technology has continued in thisfashion, boosting productivity and, inturn, providing greater work satisfactionand improved living standards.It is currently estimated that 3% of rolescould be entirely automated using thetechnology we have available to us now.By 2025 this will have risen to around35%, by 2030 it will be at 50% and by2080 scientists are predicting advancedartificial intelligence (Al) technologieswill have replaced 85% of current jobs.A more astonishing figure is the 42%of roles which could be made moreefficient, more productive, and moreenjoyable through automating individualtasks within the wider role. This isnot spread evenly across industries,however - certain industries like wastemanagement, an industry with a CHF 48billion salary bill in Switzerland, wheremany humans are currently paid 'hazardThe rise of automation has been hailed as the solution to all of society's ills by the tech elite.By removing the human element from the job, the thinking goes, we can produce more,faster, better and cheaper. The problem with this is that the human element' here is, well,human. By removing people from these roles, we are looking at creating de-employment ona massive scale. There is little we can do to stop the advance of this technology and it is allcoming at too quick a pace for regulators to account for.We already see evidence of a lack of opportunity to work in our society. People working inSwitzerland are now working for an average of 20.3 hours a week when holidays are takeninto account. Switzerland's average weekly earning is CHF 1,615. Switzerland currently has anunemployment rate of 3.3 % with 264,000 people currently unemployed. Tech analysts arepredicting that we will lose 50% of current jobs in the next 7 or 8 years. Population increasesyear on year of 0.8% will further compound this issue. All of this leads one to ask, what willpeople do for work in an automated future?So, what will a post-automation society look like? By separating capital generation completelyfrom labour, we are set to embark on an age of mass unemployment, the likes of which wehave never seen.Mass unemployment is likely to create large proportions of our society without a productiveoutlet or sense of identity, as well as widening the gap between rich and poor. This futurecould be a very bleak one indeed.pay to do dangerous but repetitivetasks, is the industry in Switzerland withthe highest potential for automation.As we begin to enter this FourthIndustrial Revolution, it is becomingapparent that there is a separation oforganisations into two clear groups:those who are using basic digitisationto support their business, and thosewho have re-examined the way they dobusiness and integrated combinationsof technologies, including RPA, to greateffect.So, should we run for the hills or turnand embrace RPA? The answer is notclear but, looking at those who havebenefitted from this technology already,preparation for automation will be key."By 2080 scientists are predictingadvanced artificial intelligence(Al) technologies will havereplaced 85% of current jobs"People workingin Switzerland are nowworking for an average of20.3 hours a week whenholidays are takeninto account.Analystspredict that 50%of current jobs willbe lost in the next7 to 8 yearsSwitzerlandcurrently has anunemployment rateof 3.3% with 264,000people currentlyunemployedSwitzerland'saverage weeklyearning isCHF 1,615U₂ 8.14 PM60%55%50%45%40%35%30%25%20%Likelihood of industries becoming automated in the futureProportion of jobs and their risk of automation. Note: the graph shows a linear decrease in the proportion of jobs at risk of full automation.15%10%Technical feasibility of job automationLikelihood of automating job tasksLLLLLLManufacturing5%PredictablePhysicalWork0%DataProcessingDataCollectionUnpredictablePhysicalWorkStakeholderInteractionsApplyingExpertisewithClientsManagingOthers0% 2% 4% 6% 8% 10% 12% 14% 16 % 18 % 20% 22% 24% 26% 28% 30% 32% 34% 36% 38% 40% 42% 44% 46% 48% 50% 52% 54% 56% 58% 60% 62% 64% 66% 68% 70% 72% 74% 76% 78%% of Tasks which could be Automated 1% of Time Spent on Tasks in all Swiss OccupationsWaste ManagementTransportation and StorageRetailAdministrationFinance and InsuranceElectricity and Gas2¹₁Other

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Answered: Which of the following is the largest…

14th Edition

ISBN:9780190931919

Author:NEWNAN

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC