Technological advancements do not take away jobs, they create jobs

The new technology of today, especially Automation, Artificial Intelligence (AI), robotics, and the Internet of Things (IoT) has made a remarkable impact by improving its capabilities to perform the tasks that were previously done by humans. This rapid advancement in technology has raised concerns that machines will replace human labor. Whenever a new technology is introduced in the market, it sparks intense debate on “Will technological advancements take away jobs from people?”

If you dig into past data, you will realize that automation has replaced manual labor and jobs of repetitive nature. Many information technologies have improved manufacturing processes by achieving the highest level of efficiency and quality. With high-end technology available in Analytics and Artificial Intelligence, automation is now introduced in the decision-making process. Does that mean advanced technologies will be a threat to people at the managerial level? The answer is no. Automation has primarily taken over jobs that are repetitive and laborious in nature. But jobs in innovation and jobs with cognitive non-routine tasks face no danger of elimination.

According to Satya Nadella, CEO of Microsoft, automation will displace some workers, but it also has the potential to create new, better-paying jobs and enhance economic growth.

Let’s consider an example of Google’s startup, Waymo. In recent times, company vehicles laden with sensors have become a common sight in the USA. These are driverless cars carrying passengers from one point to another. However, this raises a concern about the job losses to Uber drivers and other taxi operators.
Now one must understand that new jobs will be created by self-driving technologies like self-driving fleet technicians, rider support operators, and software engineers. Waymo claims that it can be a company that creates jobs.

People with manual skills will lose their jobs in the future as human touch will be obsolete. Artificial Intelligence and the associated technologies do disrupt job markets with some jobs disappearing and others emerging, but the net effect is more jobs are created than lost. The jobs of today did not exist a few years ago. Technology is not destroying but changing the nature of jobs. The issue is not to protect jobs but rather to help people develop skills that are required to perform today’s jobs. On one hand, technology has made certain jobs obsolete, on the other, technology also created jobs like computer specialists, digital marketers, app developers, energy engineers, software developers, drone operators, and the list goes on. These jobs never existed 50 years ago. Another research indicates that more than 80% of the jobs that will exist by 2030 haven’t been invented yet. Such will be the impact of technology; therefore, one must be prepared for the change.

It is quite evident that machines have been taking repetitive and laborious jobs, but jobs in innovation or jobs with cognitive non-routine tasks face no danger of elimination.

Technology plays a complementary role, and employment growth is strong. The direct job-creating role of technology is quite clear. Despite the introduction of new technology from time to time, sectors like medicine, education, communication, business, and other professional services have experienced growth in job opportunities. It is not surprising that the top fastest-growing occupations across the globe are in the service sector.

Technology has opened more avenues for entrepreneurship and startups. One can start his/her own business with minimum capital and yet reach global markets. To stay in the competition, one may have to take up a business management course that is technology-driven. One may take online courses to acquire skills in digital literacy or attend workshops to broaden skills in emerging technology.

Individuals who are continuously tracking advancement of technology and open to learning, have more chances to be at the top of the career chain. Now many people would find it difficult to keep up with the rapid pace of technological advancement, but it is necessary for all to continuously learn and acquire new skills that could help to stay competitive in the job market. To conclude, it is a misconception that technology takes away jobs. The point to remember is how one should adapt, acquire the necessary skills, and harness the power of technology to make this world a better place to live.

 

Authored  By Dr Sachin Deshmukh, Director, Vivekanand Business School, Mumbai