While the automation wave is sending shockwaves in the job market, a report by Asian Development Bank may give reasons to smile to the already nervous employees who fear job loss with robots taking over humans.The report makes few observations on how new technologies drive higher productivity, which is the foundation for better-paid jobs and economic growth. While new technologies displace jobs, they also unleash countervailing forces that generate more jobs.According to a report on ‘How Technology Affects Jobs’, new technologies often automate only some tasks of a job, not the whole job. ATMs, for example, have not replaced bank tellers but broadened their role in customer relationship management.Close Rising demand offsets job displacement driven by automation. From 2005–2015, jobs created by rising domestic demand more than compensated for job losses to technological advances. related news Even without control, not all is lost for Zee promoters, say experts P&G Hygiene and Health Care Q1 profit down 5% at Rs 137 crore Aramco IPO: Saudis scramble to raise cash Technological change and economic growth create new occupations and industries. Many new job titles have have sprung up in Information and Communication technology (ICT) and new types of jobs will arise in… Read full this story
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Fearing job loss due to automation? Find out how new technologies are creating more employment opportunities have 308 words, post on www.moneycontrol.com at April 17, 2018. This is cached page on IT Breaking News. If you want remove this page, please contact us.