Does New Technology Increase Unemployment?

The relationship between new technology and unemployment is a complex and multifaceted issue. While some argue that technology eliminates certain jobs, others contend that it creates new opportunities. This article explores both sides of this debate, providing a balanced view supported by data and real-life examples.

Declining Traditional Jobs Due to Technological Advancements

Technological progress has led to the disappearance of several traditional jobs, particularly those that rely on manual labor or outdated processes. For instance, in many urban areas, there are fewer individuals earning money by managing utility bills such as electricity, telephone, property tax, and booking gas cylinders. These tasks are now handled through online payments, which have virtually eliminated the need for such intermediaries.

Similarly, traditional agents who helped people with tasks such as renewing licenses, getting passports, visas, and preparing legal paperwork have become obsolete. The rise of online platforms and digital alternatives has rendered these jobs less necessary, as agents are no longer allowed to enter certain official offices like RTOs and RPOs.

Efficiency and Redundancy in Modern Banking and Construction

The banking sector is a prime example of how technology has increased efficiency while reducing the need for human employees. Digitization in banks means fewer people are required at branches, and customers can now perform many transactions from the comfort of their homes or offices.

In the construction industry, modern tools and techniques have made building and interior decoration more accessible. For instance, casting a roof can now be completed in just a few minutes with the help of premix cement being pumped up onto the roof, requiring only a small number of workers. This has led to more efficient and faster construction processes, but with fewer required personnel.

Emergence of New Job Opportunities Due to Technology

On the flip side, new technologies have given rise to a variety of job opportunities that did not exist before. Food delivery services, app-controlled transport drivers, and digital marketing are just a few examples of emerging roles that have become increasingly important due to technological advancements.

Technologies like artificial intelligence (AI) have the potential to automate certain tasks, reducing the need for human involvement. However, AI's primary limitation is that it can only perform routine and standardized tasks. More complex and specialized roles still require human expertise. For instance, humanoid robots can work in inhospitable environments where temperatures exceed 1500 degrees Celsius, such as smelting units or in automotive factories for tasks like part assembly and painting. While these robots can replace human labor, they require continuous monitoring and maintenance, leading to the creation of new skilled jobs but with a reduced number of employees overall.

Conclusion

The impact of new technology on employment is a mixed bag, with both positive and negative outcomes. While certain jobs may disappear, new opportunities arise, and even then, the shift often results in a net reduction of manual labor roles. This transformation not only changes the workforce but also drives the need for new skill sets and educational pathways.

The key to navigating this technological landscape effectively is through education and reskilling. As machines and automation take over routine tasks, the focus shifts to developing new skills, such as those related to AI, robotics, and digital marketing. Embracing these changes and adapting to the evolving job market is essential for long-term success.