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Robots that Steal Human Jobs Should Pay Taxes, says Bill Gates

bill on robots automation

If robots take over humans jobs, that results in fewer people working. Eventually, it does results in fewer people paying taxes. And problem arises as taxes fund things are important for nations.

Bill Gates stated his idea for solving this deficit: Have the robots which pay their share in taxes like a human does.

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“Right now, the human worker who does, say, $50,000 worth of work in a factory, that income is taxed, and you get income tax, Social Security tax, all those things. If a robot comes in to do the same thing, you’d think that we’d tax the robot at a similar level,” said, Bill Gates in an interview.

He claims if automation takes place over human activities, it should free up time allowing people to do a better job. He also condemned giving up the income tax, as that is a part of funding that level of human workers. The tax funds might come from the savings companies obtain from not having to pay and support human workers.

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About 50 percent of human jobs are vulnerable and can be replaced by robots. This may affect loosing $15 trillion wages $2.7 trillion in the United States alone. But the reports say this may not happen in the next 25 years.

“People should be figuring it out. It is really bad if people overall have more fear about what innovation is going to do than they have enthusiasm. That means they won’t shape it for the positive things it can do,” said, Gates.

HDFC Bank Deploys Robots for Customer Service

HDFC Bank Deploys Robots

HDFC Bank deploys a robot inside their branch to serve customer needs. This interactive humanoid, christened as IRA or Intelligent Robotic Assistant can greet customers, and then offers the list of banking services which the customer can get avail inside that branch.

This Intelligent Robotic Assistant has been deployed in HDFC Kamala Mills Branch Mumbai. Reports say this interactive humanoid can guide the customer towards these banking operations: Foreign Exchange, Cash Deposit, Loans. The robot will take the customer to that particular counter when he/she selects to ‘Take Me There’ option. The process also saves time and human resources as well.

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“We’re excited to announce the deployment of our first humanoid, IRA in the Kamala Mills branch. IRA is unique and will serve as a technology demonstrator in the field of artificial intelligence and robotics,” Says, Nitin Chugh, Country Head, Digital Banking, HDFC Bank.

As per the reports, HDFC is working on automation since last year. As a result, interactive humanoid under their Project AI is now in the banking sector. The robot will be equipped with facial recognition technology for detecting customers in the next phase. It is also expected these AI robots will offer customized services in coming phases.

Thus HDFC removed 4,581 jobs between September and December and justified as attributes improved efficiency as one of the reasons.

HDFC Banks will soon have a Robot Receptionist

“The drop in headcount has primarily been a result of the combination of natural attrition and a hiring at a clip lower than normal made possible by achieving higher productivity and efficiencies over the last few months,” HDFC mentioned in a statement.

On the other hand, HDFC witnessed their slowest profit growth as their pace slowed down to 15 percent. However, HDFC Bank claims that termination of employees will not affect the slow profit growth. As of now, it is quite a tough task to analyze introducing these interactive humanoids may lead to job loss or not.

Raymond to Replace 10,000 Employees with Robots

Raymond to slash 10,000 jobs with robots in next three years

Robots working in companies or organisations have become latest news these days. So many companies are announcing the replacement of humans with robots. Recently, the 9-decade-year old apparel giant, Raymond has also added to the list.

According to the reports, the textile giant, Raymond is going to slash 10,000 jobs in the next three years in various manufacturing units. Instead of workers, the company is going to induct robots and use technology instead.

This automation development is already influenced in countries like China and Europe, where there is an increase in usage of robots. Raymond’s CEO Sanjay Behl said in an interview that, “one robot could replace around 100 workers. While it is happening in China at present, it will also happen in India.”

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Globally, there have been concerns over robots of taking away the jobs. However, this may lead to a decrease in a lot of job opportunities. Now so many private banks in India are looking at using the robot services. Even pizza making robots are about to launch.

Recently ICICI Bank officials have reported that the services of robots are used to perform tasks like generating customer ID’s, updating mobile numbers and addresses, resolving ATM related queries, etc. They have automated 10 lakh banking services using robots.

The country’s second largest private banking entity, HDFC Bank has also announced to introduce the robots for customer service in one of its branches in Mumbai. They had been launching the project of Artificial Intelligence, and the first device is ready for deployment.

HDFC Banks will soon have a Robot Receptionist

This Raymond’s automation drive to kill 10,000 jobs will hit the Indian manufacturing company. As per the various analysis, this automation process will wipe out 50% jobs in IT industry. Due to automation or robots, the top five firms of IT industry in India has employed less than 24 percent.

Ingestible Origami Robot Can Deliver Drugs And Remove Swallowed Batteries

Ingestible Origami Robot

The University of Sheffield and Tokyo Institute of Technology have demonstrated a tiny Ingestible Origami Robot that can deliver drug and remove a swallowed button battery or a patch wound.

A team of the researcher of MIT CSAIL has developed a tiny origami robot which can unfold itself from the ingested capsule to complete the particular task within the body.

The robot can remove the objects, and it can patch wounds, or it can deliver medicine at designated locations. This new ingestible robot built on many previous works of origami robots. However, the design of the body is significant.

“It’s exciting to see our small origami robots doing something with important potential applications to health care,” says Rus. “For applications inside the body, we need a small, controllable, untethered robot system. It’s tough to control and place a robot inside the body if the robot is attached to a tether.”

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The challenge with this ingestible origami robot is to find the Bio – Compatible materials that are easy to be controlled and maneuver to the types of operations that are in need from the Robot.

The Ingestible Origami Robot researchers are presenting this at the International Conference on Robotics and Automation later this week. The research group consists of CSAIL (Computer Science and Artificial Intelligence Laboratory) Director Daniel Rus, Andrew and Erna Viterbi Professor in (Dept of Electrical Engineering and Computer Science) MIT’s.

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To address this challenge, the research has tested over to a dozen different possibilities for the structured material. In United Sates alone some 3,500 swallowed button batteries are reported every year. But Miyashita employed a smart strategy to remove the ingested button cells and treatment of wounds was a compelling application to origami robot.

“This ingestible origami robot is highly creative and highly practical in an elegant way.” says Bradley Nelson, a professor of robotics at the Swiss Federal Institute of Technology Zurich.

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Daniel Rus, Director, MIT CSAIL said that to do more experiments on adding sensors to robots and redesign the Robots so that it could be able to control itself without the need of external magnetic field.

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