Comprehending Technological Unemployment.

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The influence of automation on employment globally has been the subject of numerous studies, with wildly disparate findings. Experts believe that new technologies are applied to every economic sector and effect work, whether it is replacing or supplementing existing jobs, while there is dispute regarding the exact impact that automation will have. This study aims to explain the primary societal effects that automation will have and what steps should be done to address them, moving beyond the debate regarding the magnitude of the impact of automation. With the aim of providing an academic perspective on the steps required to address the social issue of technological unemployment, we examined literature about the subject that was published since 2000 and was located in Scopus and Web of Science. Bonin, Gregory, Zierahn, and. Übertragung (2015)


In the past industrial revolutions, automation has occurred, and the outcomes have generally been favorable. A fresh wave of automation is sweeping through this Fourth Industrial Revolution, surpassing human skills that were thought to be irreplaceable by machines. The worry of unemployment due to technology resurfaces as it gets harder to see what is left for humans to achieve. In retrospect, society may conclude that these writers were preoccupied with pointless issues if technological unemployment turns out to be a reality. The problem with future researchers is that, should their pessimistic predictions be heeded, their findings may inspire or assist in societal change, which will make their predictions inaccurate. The term "self-defeating prophecy" describes this behavior. Campa (2019)





Previous experiences indicate that reality will likely lie in the middle of these two extreme forecasts; our choices in the meantime will determine which direction reality leans toward. Our examination of the literature included a number of recommendations for how society should reduce the negative effects of technological unemployment, including tax system reform, reevaluating higher education, establishing minimum income guarantees, and shortening the workweek. Frey and Osborne (2017)

A collaborative effort between various social actors, including businesses, governments, labor unions, educational institutions, and employees, will be necessary to address technological unemployment. Lamb and Doyle (2016)

Although there isn't a single answer to the problem, implementing several strategies could help society realize its long-term objective of relieving the need for labor for economic gain and giving humans the (positive) problem of discovering meaning in life. Kim and Scheller (2019)




Larger ramifications for the community. The article highlights the potential for AI to transform society and delves into the theoretical underpinnings of economic theories related to technological innovation, labour market dynamics, and innovation diffusion. It also explores the effects of these theories on macroeconomic patterns, industry-specific effects, labour market transformations, socioeconomic implications, policy considerations, and global variations. Furthermore, the article addresses the possible obstacles associated with labour market disruption and change, productivity boosts, economic expansion, and sustainability, market dynamics and industry disruption, global competitiveness, technological leadership, and moral and social issues arising from the quick integration of AI into economic systems. The article offers insights for organisations, individuals, and governments by analysing the opportunities and problems associated with artificial intelligence (AI) and its impact on the economy.  KUZIOR1, IRA2 , BROŻEK (2023)

References

  • Adolfsson, L. (2020). How will Artificial Intelligence impact the labour market, which jobs will be replaced and what will it mean for society, within the next decade? Retrieved from: http://uu.diva-portal.org/smash/get/diva2:1439024/FULLTEXT01.pdf
  • Bonin, H.; Gregory, T.; Zierahn, U. Übertragung Der Studie von Frey/Osborne (2013) Auf Deutschland; ZEW Kurzexpertise: Mannheim, Germany, 2015. [Google Scholar]
  • Campa, R. Three Scenarios of the Future of Work: Technological Unemployment, Compensation, Hollowing Out. Sociol. Y Tecnociencia 2019, 9, 140–154. [Google Scholar] [CrossRef]
  • Danaher, J. Will Life Be Worth Living in a World Without Work? Technological Unemployment and the Meaning of Life. Sci. Eng. Ethics 2017, 23, 41–64. [Google Scholar] [CrossRef] [PubMed] [Green Version] 
  •  Frey, C.B.; Osborne, M.A. The Future of Employment: How Susceptible Are Jobs to Computerisation? Technol. Forecast. Soc. Chang. 2017, 114, 254–280. [Google Scholar] [CrossRef]
  •  Lamb, C.P.; Doyle, S. The Talented Mr. Robot: The Impact of Automation on Canada’s Workforce; Brookfield Institute for Innovation+ Entrepreneurship: Toronto, ON, Canada, 2016. [Google Scholar]
  • Kim, T.W.; Scheller-Wolf, A. Technological Unemployment, Meaning in Life, Purpose of Business, and the Future of Stakeholders. J. Bus. Ethics 2019, 160, 319–337. [Google Scholar] [CrossRef]
  • Walden, M.L. Occupation Change and Technological Unemployment in North Carolina. J. Reg. Anal. Policy 2018, 48, 12–22. [Google Scholar]

Comments

  1. Roshan kumarapeli11 April 2024 at 23:37

    While automation can increase efficiency and productivity, it also raises concerns about job displacement and the need for upskilling or reskilling to stay relevant in the workforce

    ReplyDelete
  2. Nadeeka Samarathunga12 April 2024 at 03:59


    Beyond the disagreement about the specific consequences of automation, your paper explores the societal effects of automation and suggests solutions. It is likely that you have learned a great deal about this subject by reading through the research from reliable sources like Scopus and Web of Science. Fantastic work!

    ReplyDelete
  3. Ashani De Alwis12 April 2024 at 10:02

    The blog post provides a comprehensive overview of the societal effects of automation, emphasizing the need for proactive measures to address potential technological unemployment. It acknowledges the mixed findings regarding the impact of automation on employment and offers recommendations such as tax system reform, educational reevaluation, and collaborative efforts between various social actors. Additionally, it discusses the larger ramifications of AI on society, including economic patterns, labor market dynamics, and policy considerations. Overall, the post highlights the importance of addressing the challenges posed by automation through collective action and thoughtful strategies to ensure a balanced and sustainable future.

    ReplyDelete
  4. Ruvini Dissanayake12 April 2024 at 14:11

    This blog provides the details about Comprehending Technological Unemployment and what can we learn from it; Implementing various strategies can help society relieve the need for labor for economic gain and find meaning in life amid automation's challenges.

    ReplyDelete
  5. Anjali Hettiarachchi E22544814 April 2024 at 16:31

    Your article about technological unemployment is really interesting! It talks about how automation might affect jobs and what we can do about it. I like that you included different perspectives from experts like Bonin, Gregory, Zierahn, Übertragung (2015), Campa (2019), Frey and Osborne (2017), Lamb and Doyle (2016), and Kim and Scheller (2019). It shows that you've looked at a lot of research to understand the topic.

    You mentioned some possible solutions to address technological unemployment, like changing the tax system, rethinking education, and guaranteeing a minimum income. It's good to see that you're thinking about ways to help people who might lose their jobs because of automation.

    The article also talks about the bigger picture, like how AI could change society and the economy. It's important to consider how these changes might affect everyone, not just people who work in certain industries.

    Overall, your article is well-written and informative. It's clear that you've put a lot of effort into researching the topic. And the inclusion of images helps break up the text and make it more engaging to read. Great job!







    ReplyDelete
    Replies
    1. Ruki(Rukshan Dinesh-E232179)14 April 2024 at 19:54

      Thanks a lot Anjali for your detailed insightful thoughts. Hope you enjoyed reading it!

      Delete

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