Employment figures yesterday showed that 32.6 million were employed and 1.36 million unemployed representing 4% of the working population which is the lowest since 1975. Weekly earnings increased by 3.4% for the year to Dec 2018 and was the highest increase since 2011. Apart from demonstrating the ongoing strength of the employment market, inflation watchers will be watching the earnings growth trend carefully.
GBP rallied sharply against the USD and EUR in the course of the day on the back of optimism that the Brexit stalemate could end shortly. This new found optimism also boosted the EUR versus the USD. 10yr UK Govt bond yield was steady at 1.17%. FTSE weakened by 0.5% to 7179 and WTI oil steady at $56
Robots and Artificial Intelligence: Citizen A.I.
As highlighted in our Daily Briefing ten days ago, part of our future will be heavily dependent on Robotics and Artificial Intelligence.
By way of illustration: Just near Mount Fuji in Japan is a factory full of yellow robots making more yellow robots. There is no light, heating or air con as robots don’t need any of those-nor do they need coffee or lunch breaks. 24/7 Fanuc Corporation produce robots-10,000 per month with the capacity to increase to 30,000 per month. More and more yellow robots rolling off the line…
McKinsey predict that 30% of activities in 60% of all occupations are automatable. That means that coming to a desk near you at some point will be a “cobot” or collaborative robot. One robot in an office can do the work of 2-5 humans.
Citizen A.I. Is the working title for the programmed “cobot” that may soon be sitting at the desk next to your own.
If it all sounds a bit futuristic, think again, that future may be closer than you think. Watch out for Robert the Robot as Citizen A.I. may come to be known by his workmates!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Reckoning Days
Charles Porter
Tue 14 Jan 2025
Reckoning Days Despite it being less than one week until Donald Trump’s inauguration, markets are still fixated on the evolution of the UK’s bond market and its currency. The Chancellor may well have been hoping for some distracting headlines from the incoming President-elect. Unfortunately for her, those that have come from the Trump administration and […]
Daily Brief – Markets In Reverse – Inflation to the Rescue
Charles Porter
Thu 16 Jan 2025
Markets In Reverse – Inflation to the Rescue Particularly in the case of the beleaguered GB Pound, it may be time to do away with the textbook. Instead of attracting further demand as UK yields have risen, GBP has registered one of its worst starts to a year on record. It is a narrative of […]
Daily Brief – Germany
Humphrey Percy
Fri 17 Jan 2025
Germany In just 6 weeks Germany will vote and while Chancellor Scholz thinks that he can win, most others are equally convinced that he cannot based on his economic record alone that has seen the German economy contract by 0.3% in 2023 and by an estimated 0.2% in 2024. That on top of his ability […]
