Historically, technological advancements have often sparked fears of job losses, from the Luddites destroying weaving machinery in the 19th century to the concerns over automation today. Yet, these fears have largely failed to materialise. The Industrial Revolution, for instance, ultimately created more jobs than it destroyed. Similarly, the advent of computers saw an increase in employment opportunities rather than a decline.
In the current era, automation is predicted to displace many jobs, but also to create new ones. In fact, the World Economic Forum estimates that while 75 million jobs may be displaced by 2022, 133 million new ones could be created. These new jobs will likely require different skills, including digital literacy, creativity, and complex problem-solving abilities.
Despite the optimistic outlook, the transition may not be smooth for everyone. Workers in lower-skilled jobs are at a higher risk of being displaced, and may find it difficult to acquire the new skills needed. Therefore, it is crucial that businesses and governments invest in retraining and reskilling initiatives to ensure a fair transition into the future of work.
While the fear of job losses due to technological advancements is not unfounded, history suggests that innovation often leads to the creation of new job opportunities. The key lies in preparing for the changes and adapting to the evolving job market.
Go to source article: http://www.bbc.com/capital/story/20180312-historys-unfounded-fears-over-the-future-of-work