For decades, technologies have been known for making our lives better and work process simpler. But there are some people who are arguing that the advancement of technology is the major reason behind unemployment because it is changing the process at the workplace. According to them, with the incremental development in technology, the labor market will go down greatly and will be replaced by machines, which in turn will create unemployment.
Very often we see processes and works that used to be done manually are getting replaced by technology. Now, the day is not distant when Artificial Intelligence produced robots can completely take over humans and it will be a matter of concern that what impact technology is going to bring at the workplace.
We have to admit it that technology has undoubtedly impacted the way we work. For those who are curious to know how technology has impacted the job market need to think over the fact that technology has created ample new jobs for those who have kept their pace with it. But many people think that the impact of technology on killing jobs is more than creating new ones.
Impact on Unemployment
The impact of technology on our lives is increasing drastically. This technological evolution has increased the concern that it can replace various jobs which are being done by unskilled employees who are not well versed with the recent change in technology.
So, to keep one updated with the change in recent technology, the working population needs to have more flexibility in work and must be ready to learn new things. But not everyone is willing to change; hence new technology has a big impact on jobs.
- Computers are replacing most manual work creating fear of losing a job.
- The use of machines increases the efficiency and performance by discarding the errors and risk factor done by humans, which kills the jobs for an unskilled person.
- Technology and unemployment are two faces of the same coin. If one is not willing to change with the change in technology, there is a very high chance of facing unemployment in this case.
- The speed at which technology is growing is so rapid that it is unable for a person to keep pace with it.
- Due to advancement in technology, income inequality is rising.
Hence, the advancement in technology will force many to go beyond their comfort zone and get along with it and this can bring tension and turbulence in the job market.
For any unfortunate reason, if you lose your job and unable to get one then you should consider upskilling and update yourself with the latest technology.
Meanwhile, to survive your unemployment period, you can take 100 % guaranteed loans for unemployed in the UK. There are many lenders in the UK who provide this type of loans and Honor Finance is one among them.
Technological development is not always disruptive. It has some positive impacts also. It has a great impact in the workplace with an increase in productivity, effectiveness, and eliminating human errors and risks.
Let’s have a look at some positive impacts of development in technology:
- It helps in creating skilled jobs. It is creating jobs for skilled labor who can empower themselves according to the need of changing world.
- Communication has become easy. Once used telephone and fax have been replaced by Smartphone and tablet.
- Due to computerization of manual works, errors have been reduced and performance has been increased.
- An increase in demand for highly skilled workers has increased the salary of an individual enormously.
- There is a wrong perception that with an increase in productivity, the job gets reduced but in reality, a highly productive organization provides more job and also better pay.
- When we compare technology and unemployment, we can see that with an increase in technology, there are many areas where you can find a job like Robotics, AI, etc.
Technology has made many changes in various areas like medical, education, agriculture, industry, etc.
For those, who are still in doubt about technology replacing the jobs? Initially, when the industrial revolution started, many believed that it will destroy the labor market and will create unemployment. But with little disruption, in the beginning, everything came back on a good track eventually. Similar is the case with technological advancement. After a few hiccups, it will have a big positive impact on our lives.