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The Advancement of Technology and its Impact on the Workforce

##article.authors##

  • Agneya Rai Gupta Individual

DOI:

https://doi.org/10.58445/rars.1511

Keywords:

Advancements in technology, Employment, Economy, Workers, Jobs, Society

Abstract

In this paper, there will be an explanation of the advantages, disadvantages, and potential scenarios that can take place as a result of advancing technology. There will also be an analysis of what would be likely to happen. This paper defines “advancing technology” as innovation in terms of equipment pertaining to economic production, with the ability to take on existing roles with a higher productive potential; and “unemployable” is defined as not having the level of skill required to be employed in a job. The main stakeholders identified in this paper are the government, the firms, the workers and the consumers.

References

Brown, Sara. “A new study measures the actual impact of robots on jobs. It’s significant.” MIT Sloan, 29 Jul 2020, https://mitsloan.mit.edu/ideas-made-to-matter/a-new-study-measures-actual-impact-robots-jobs-its-significant#:~:text=The%20researchers%20found%20that%20for,loss%20of%20about%20400%2C000%20jobs

Sun, Tianqi (George). “Is AI taking over the job market?” Michigan Journal of Economics, 3 Jan 2024, https://sites.lsa.umich.edu/mje/2024/01/03/is-ai-taking-over-the-job-market/

Khattar, Rose. “Will AI Benefit or Harm Workers?” Center for American Progress, 24 Aug 2023 https://www.americanprogress.org/article/will-ai-benefit-or-harm-workers/#:~:text=On%20the%20one%20hand%2C%20the,increase%20unemployment%2C%20and%20exacerbate%20inequities

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Posted

2024-08-25

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