Category: Technology

Is New Technology Destroying Jobs?

by HOMEiZ Blog Team Posted: 08/22/2016 Views: 1029

The battle between man and machines goes back centuries.
Are they taking our jobs? Or are they merely easing our workload?

We are entering the age of artificial intelligence and automation where humans at all levels of intelligence will be bypassed. There will be no reason to employ a human being because it is more cost effective to use a highly intelligent machine operating 24/7/365. Thanks to the efficiency of the internet and automated systems, productivity and GDP have grown during the last few decades, but the middle class and jobs are disappearing. Anecdotal evidence that digital technologies threaten jobs is of course, everywhere. It became clear that new technologies reducing the demand for many types of human workers. In the United States and China, the world’s manufacturing powerhouses, fewer people work in manufacturing today than in 1997, thanks at least in part to automation. The idea that technology or robots specifically will take our jobs and put us all out of work is scaring millions of people around the globe. Wendell Wallach, a researcher at Yale university, who recently said ``We're entering an era of structural high unemployment because tech is taking all our jobs. This is an unparalleled situation and one that I think could actually lead to all sorts of disruptions once the public starts to catch on that we are truly in the midst of technological unemployment``

Many industries are threatened by technology

Imagine that this article was written by a robot would you believe it? Well, that can be done within 5-10 years or less with technology. Almost every job on earth can be replaced by a robot, software, or with machines that will do the job faster and cheaper. There are many fields of our lives that technology enters and basically replaced humans. The Real estate industry in one of the most debated in this subject. The main question is, do we really can or even want to replace the real estate agent and start using a software or a robot? There are many views of opinions to this debate but there are many other basic elements who should not be ignored. By nature, people want and like to interact with people especially in a very sensitive complicated transaction of selling and buying real estate. Yes, Millennials who were born into the world of technology can find it very interesting and useful to deal with a robot and will might prefer this type of way to sell and buy real estate. There are many entrepreneurs out there who are trying to invent the ultimate software that will replace the human touch in the transaction, but until then many of us prefer the human touch and to deal with a real estate agent.

In fact

We have reached a tipping point where technology is now destroying more jobs than it creates. The fact is, technology is evolving faster than ever before with little to no oversight or Government regulation, the likelihood of more jobs being replaced by new tech is at an all-time high. Oxford University study published in 2013, that 47% of jobs in the US could be computerized in the next 10 to 20 years. The idea that automation hurts jobs is not new. The difference between 20 years ago and now is that artificial intelligence and machine learning have just gotten much better, which means self-learning machines are taking over more skilled positions. Getting ahead of that problem now, before the technology becomes entrenched is extremely important. Machines are unpredictable and cannot be fully controlled, and attribution of responsibility is difficult if not impossible. They would undermine the foundational ethical principle that a human agent is responsible and accountable for an action.

Is Technology making more jobs?

Many research calming that technology is making more jobs than destroys them. Is that right? Research claims that technology continues to create great wealth and creates more jobs who makes us better off, but there's no economic law that everyone will share in these benefits. Many people believe that rapid technological change has been destroying jobs faster than it is creating them, thus contributing to the stagnation of median income and the growth of inequality in the world. History suggests that it is most likely a temporary phase as workers adjust their skills and entrepreneurs create opportunities based on the new technologies and the number of jobs will rebound.

Conclusion

Technology changes can be painful for workers because their skills no longer match the needs of employers. Though these technologies have undoubtedly taken over some human jobs and finding evidence of workers being replaced by machines on a large scale, is not all that easy. Digital technologies, partly responsible for today’s lack of jobs, have obviously touched a raw nerve for many worried about their own employment. This rapid acceleration of technological progress has greatly widened the gap between economic winners and losers and risen the income inequalities that many economists have worried about for decades. Yes, automation is replacing a lot of jobs, but someone needs to build, maintain and upgrade these systems. More importantly, entrepreneurial thinkers are needed to figure out how these systems can be applied against pressing business and global needs. Entrepreneurial vision is something that can never be programmed.

By HOMEiZ Blog Team