Summary of Toil and Technology
Innovative Technology Is Displacing Workers to New Jobs Rather Than Replacing Them Entirely
Source: IMF eLibrary
Contrary to popular belief, computers aren’t eliminating jobs, but they are changing jobs.
Robots and computers are not the enemies of job creation, but they are changing how work is done and who does it, according to economic innovation expert James Bessen. His brief but insightful article describes how “smart machines” – from automated teller machines to computers that can diagnose breast cancer – are stepping into territories that humans once dominated. But Bessen adroitly points out that while technology has replaced some workers, it has actually generated more and different jobs requiring diverse skill sets. getAbstract recommends his timely report to human resources executives and policy makers.
In this summary, you will learn
- How automation has changed the job landscape;
- Why technology creates more jobs than it eliminates: and
- Why a lack of training, rather than the technology itself, is the main culprit behind the stagnant labor market.
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