The global labour market is increasingly adopting new technology. New technology makes it easier for companies to automate routine tasks and could disrupt the balance between job responsibilities completed by humans and those completed by machines and algorithms. With smart technology becoming more mainstream, we need to consider the impact using this new technology will have on our society and workforce.
Transformations and disruptions are already occurring within labour markets across the world. People routinely store images and documents in the cloud, our emails remind us to send follow-ups and we can turn on light bulbs with a simple voice command.
Over the last twenty years, the use of new technology has caused some roles to disappear while also creating new, previously unheard of job titles. For example, the rise of online flight comparison sites has drastically reduced the number of physical travel agents and advancements in mobile technology has made switchboard operators obsolete. On the other hand, technological advancements have also led to the emergence of brand new job titles like app developers, social media marketers, and data scientists.
So, will these changes improve or hinder our current standard of living and our future of work? To find the answer, we’ll need to explore the Fourth Industrial Revolution a bit closer including its potential impact and benefits.
