There is a lot of fear- mongering regarding the impact that automation will have on the job market. A lot of this is founded on reality, but some of it may even be exaggerated. For instance, automation is not a new thing, but has in fact been going on for decades, and even centuries. In fact, the pace of change in jobs is less now than it was back during the 1940s and 1950s. Thus, there are some key questions, often overlooked, but which need to be asked to understand the actual impact of automation on jobs. The first such question would be, whether workers who will face automation blue, will be able to transition to new jobs. Another concerns the political ramifications. It is about the cost of automation and who will bear it. Automation could also affect the labour supply market. The fourth question to be asked is automation’s effects on wages and vice- versa. Business innovations will now also be needed in the job search market to match the new requirements by companies and the corresponding skills available.

Source:https://www.hbr.org/2018/12/5-questions-we-should-be-asking-about-automation-and-jobs

Uploaded Date:31st December 2018