Future of Work
With the advancement of technology, the future of work has been one of the major topics of discussions across the world. The debate as well as the anxiety caused by the change of technology including innovation, automation as well other digital platforms, has led the International Labor Organization to launch Future of Work Initiative. The Future of Work Initiative was started with a primary purpose of assisting the world to understand and effectively respond to new work challenges. With a better understanding, business leaders, and policymakers will be in a better position to make changes and move with the technology.
Effects of Technology on Future of Work
The future of work does affect not only developing nations but also developed countries. The development of automation which is brought about by the use of robotics, as well as artificial intelligence, will have a positive effect on work productivity by increasing convenience, safety, productivity, and above all bring economic growth. On the other hand the future of work is negatively affected by automation of work and questions such as skills, wages, and the nature of work arise. The labor that human beings carry out today has been automated. Job-matching organizations including Linked and Monster have changed the way individuals are looking for work around the world, while on the other hand top organizations among them Upwork and Uber have opted to digitize their services challenging the world on where and how to look for work.
The future of work offers exceptional opportunities as well as significant challenges for policymakers, entrepreneurs, and workers. According to a study conducted, technology has affected the future of work with an increase of labor market between high and low skill jobs, the young people have been affected by unemployment and underemployment, income inequality, as well as the stagnation of economies among households. Globalization, technological changes, and demographic changes have a significant effect on the future of work.