The Future of Work: Is This Time Different?

Abstract

The potential scope of automation has expanded significantly over the centuries, and it is estimated that roughly 47 % of jobs are at high risk. However, as long as there is a demand for things that only humans can produce, there will still be jobs. Moreover, new jobs are emerging as new technologies are being introduced, but those are jobs primarily for the highly skilled. By leapfrogging industrialization to the high-tech economy, a lot of demand for the new jobs can actually be created in the local service economy. And that is the route that the next generation of emerging economies needs to take and explore.