Automation and its Effects in the Labor Markets
The advancements in technology have caused a robust disruption in the labor markets. The new technologies have resulted in the establishment of the losers and winners in the labor markets. Even though the technologies have improved the standards of living and enhance the productivity within companies and the individuals, they have also created a transition in the relative demands for jobs. For instance, the technologies have necessitated policymakers to design effective skill policies and education programs to help people make the right career decisions that they want to pursue. Also, the use of technologies at workplace have resulted in the loss of jobs as the machines replace the human labor. The human kind has been placed to the threat of the fourth Industrial Revolution where the adoption of the technologies like robots, data science, artificial intelligence, quantum computing, and the internet-of-things has established a platform for the adoption of the advanced applications such as autonomous vehicles, virtual assistants, social robots, the 3D printing and desktop manufacturing. The applications will replace the human labor in the markets and create job losses amongst individuals. The impacts of the job losses are detrimental especially within the society where the individuals who have lost their jobs can resort to criminal activities as a means of survival, low standards of living and enhanced poverty. Even though automation will enhance the productivity and efficiency in doing work, it will result in significant job losses in the labor markets.
Definition of Automation
In the past, industries have employed human labor to control the various machineries of production. The individuals go through various training programs to get equipped with the skills and know-how on how to operate the machines to enhance efficiency and increased production, an aspect that has earned the organizations more revenues, characterized by convenience and efficiency in production. However, the recent developments in the industrial world and production firms has seen the adoption of automation in production, a practice that has resulted in a massive disruption in the labor markets. Automation refers to the control in the use of different control systems to operate equipment such as machinery, boilers and the heat treating ovens, processes in factories, steering and stabilization of the ships, the application in the automobile industries, aircraft and other various applications with reduced human labor. The automation involves the replacement of the human labor with the machines or technologies such as robots to do the work that was initially done by man. The impacts are the improved productivity since, unlike human subject to fatigue that can stop the production process, the automation technologies can work all day with efficiencies while also minimizing wastes, impacting the volume of production. However, despite the advantage, the technologies have adversely affected the labor market.
Impacts of Automation on the Labor Markets in the United States
The next phases of the automation in the United States is
References
Acemoglu, D., & Restrepo, P. (2017). Robots and jobs: Evidence from US labor markets.