Tag Archives: labor market

Can technology accelerate the death of the labor market?

Image source: techcrunch.com

When the advancements of technology started making their way to our own homes, drastically changing and improving our way of life through their offers of convenience and efficiency, many started believing that we are indeed, living in the future.

However, there are others who think that the comforts of technology go hand In hand with the tragedy of a totally different future that is no longer ruled and ran by humans, but by intelligent and flawless machines. One recent news seems to echo this concern.

According to a recent news report, cafeteria student-workers at a community college will soon lose their jobs as food dispensing machines will be assigned to replace human workers.

These self-serve machines may be far from its perfected and highly intelligent non-human worker but with the technology and knowledge that we have today, it’s only a matter of time until our concerns of robotic domination especially in the labor market can become a reality.

In contrary, many experts believe that human workers don’t need to worry, pointing out that only less than 5% of jobs can be fully replaced by technology. These are labors in structured environments with predictable and repetitive activities that can be easily replicated through automation.

In addition, jobs that include intuitive decision-making in complex physical work environments can be extremely challenging for machines since computers often struggle with tasks that rely on abstract and creative thinking.

Researchers who are studying on the possible effects of robots and technology in the job market predict that it will take 120 years, with a 50% chance, before machines can be finally capable of taking over the entire labor force.