The Impact of Technology on the Labor Market: An Analysis of the Changing Landscape

DOI

10.2991/978-94-6463-408-2_56How to use a DOI?

Keywords

technology impact; automation; workforce transformation; job roles; skill requirements

Abstract

The relentless march of technology and automation has ushered in unprecedented levels of productivity and efficiency, reshaping industries and profoundly impacting the labor market. This article explores the multifaceted effects of new technology and automation on the workforce, including the transformation of job roles, evolving skill requirements, and intricate wage dynamics. As cutting-edge technologies like artificial intelligence and robotics redefine tasks across industries, workers face changing skill demands that encompass technical proficiencies and soft skills. These shifts have led to nuanced wage disparities, with specialized technical skills often commanding higher salaries while some traditional roles experience wage stagnation. Additionally, the gig economy has introduced variations in wage structures, offering flexibility and income potential for some but income instability for others. Understanding the intricate interplay between technology and wages is essential for individuals, businesses, and policymakers as they navigate the evolving labor landscape. Addressing these complexities requires a multifaceted approach involving education, policy reforms, and labor market adaptations.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

TY  - CONF
AU  - Wenchong He
AU  - Beiqin Zhang
AU  - Jialu Zhang
PY  - 2024
DA  - 2024/05/07
TI  - The Impact of Technology on the Labor Market: An Analysis of the Changing Landscape
BT  - Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)
PB  - Atlantis Press
SP  - 498
EP  - 504
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-408-2_56
DO  - 10.2991/978-94-6463-408-2_56
ID  - He2024
ER  -