Unpleasant consequences of technological changes

Unpleasant consequences of technological changes

Santosh Kumar Dash

Change is good. At least that is what we believe when it comes to technology which makes yesterday’s technology obsolete. If you have Ola/Uber, Swiggy/Zomato, Paytm/FreeCharge/PhonePe, and Flipkart/Amazon in your smartphone, life becomes easy. But such disruptive technological changes too have unpleasant effects.

First, it leads to rise in unemployment. Nobel prize-winning economist, Joseph E Stiglitz believes that rapid technological changes pose bigger challenges to employment creation in short to medium-run. Low-skilled workers face biggest risks in future as firms around the globe adopt new-age technologies like automation, artificial intelligence, robots and e-commerce firms. They challenged brick […]

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