The alleged lack of available talent for blockchain industry jobs was high on the agenda at the DTCC’s Fintech Symposium, held at the Grand Hyatt in New York City yesterday.
There, executives from a wide range of companies took turns addressing an audience of several hundred financial industry executives to express their concern about what they believe is a problem preventing wider growth and use of the technology.
A new study published by the data science team at Hired, a jobs marketplace for tech workers, shows why it’s becoming harder for software engineers to afford life in San Francisco, even while they make more money than their peers elsewhere in the U.S. and the world.
Based on 280,000 interview requests and job offers provided by more than 5,000 companies to 45,000 job seekers on Hired’s platform, the company’s data team has determined that the average salary for a software engineer in the Bay Area is $134,000. That’s more than software engineers anywhere in the country, through Seattle trails closely behind, paying engineers an average of $126,000. In other tech hubs, including Boston, Austin, L.A., New York, and Washington, D.C., software engineers are paid on average between $110,000 and $120,000.
Yet higher salaries don’t mean much with jaw-dropping rents and other soaring expenses associated with life in “Silicon Valley,” and San Francisco more specifically. Indeed, factoring in the cost of living, San Francisco is now one of the lowest-paying cities for software engineers, according to Hired’s lead data scientist, Jessica Kirkpatrick. According to her analysis, the $110,000 that an Austin engineer makes is the rough equivalent of being paid $198,000 in the Bay Area, considering how much further each dollar goes in the sprawling capital of Texas. The same is true of Melbourne, Australia, where software engineers are paid a comparatively low $107,000 on average, but who are making the equivalent of $150,000 in San Francisco.
Jon Zornow, the founder of Sewbo, made waves in September after announcing that he had built the first robot to sew a t-shirt without human intervention. Using a robot arm and an automatic sewing machine, Zornow took some carefully prepared material and ran it through a pre-programmed series of moves.
In 2012, Futurist Thomas Frey predicted that 2 billion jobs would disappear by 2030, roughly half of all jobs that exist today. Oxford University researchers reinforced this with their estimates that 47 percent of U.S. jobs could be automated within the next two decades. But which ones will robots take first?
First, we should define “robots” as technologies, such as machine learning algorithms running on purpose-built computer platforms, that have been trained to perform tasks that currently require humans to perform.
Automation could replace 250,000 jobs in government over the next 10 to 15 years — with potentially one million more under threat. The UK’s public sector workforce stood at around 5.3 million in the middle of last year, and has been falling since 2009, when it stood at 6.4 million. But that could be slashed significantly if the public sector adopts a policy of automating predictable jobs, according to a report from thinktank Reform.
It’s the kind of stat you might casually tell a friend at a bar: For the last six years, Japan has sold more adult diapers than baby diapers. But Japan’s fertility problems are far more grave than toilet-related trivia. Over the last decade, Japan has seen its elderly population swell, new family-planning stall, and its economy shrink because of persistently low spending. Economists are now calling the situation a “demographic time bomb,” and some Japanese researchers have even created a doomsday clock that ticks off the seconds until Japan’s population extinction.
When Donald Trump won the election, many in Silicon Valley were flummoxed: “How could a bigoted billionaire with no government experience and a twitchy Twitter trigger finger win the U.S. presidential election?” they asked themselves.
U.S. solar employs more workers than any other energy industry, including coal, oil and natural gas combined, according to the U.S. Department of Energy’s second annual U.S. Energy and Employment Report. 6.4 million Americans now work in the traditional energy and the energy efficiency sector, which added more than 300,000 net new jobs in 2016, or 14 percent of the nation’s job growth.
When education fails to keep pace with technology, the result is inequality. Without the skills to stay useful as innovations arrive, workers suffer—and if enough of them fall behind, society starts to fall apart. That fundamental insight seized reformers in the Industrial Revolution, heralding state-funded universal schooling. Later, automation in factories and offices called forth a surge in college graduates. The combination of education and innovation, spread over decades, led to a remarkable flowering of prosperity.
NOTE: A good way to stay ahead of the curve of technology changes is with DaVinci Tech Academy.
Singapore’s shipping ports are already among the busiest and most efficient in the world. Now the city-state is exploring a new way to make them run even better: convoys of driverless trucks operating between terminals. The idea is that a lead truck will be driven by a human, with the follower vehicles being automated.
A Japanese company is making 34 employees redundant in order to replace them with IBM’s Watson Explorer AI. Human workers at Fukoku Mutual Life Insurance are set to be replaced by an artificial intelligence that can calculate payouts to policyholders.
One of the most stressful questions a new parent confronts is, “Who’s going to take care of my baby when I go back to work?” Figuring out the answer to that question is often not easy. When NPR, along with the Robert Wood Johnson Foundation and the Harvard T.H. Chan School of Public Health, surveyed more than 1,000 parents nationwide about their child care experiences, athirdreported difficulty finding care.
