Human Dynamics of Automation and Digitalisation of Economies: Discussion on the Challenges and Opportunities

Abstract

This chapter addresses the automation and digitalisation of the economies by specifically focusing on their influences on humans-primarily employed workers. Initially, this chapter highlights trends in this regard by specifically referring to artificial intelligence, robotics, the Internet of Things (IoT) and three-dimensional (3-D) manufacturing. This is followed by a specific discussion on the people-specific challenges-especially concerning the job losses in Europe. We also use publicly available statistics to complement the arguments presented in this concern. After this, our chapter discusses the opportunities for humans emanating through these technological advancements. We highlight new work and entrepreneurial possibilities that are emerging as a result of these advancements. Finally, this chapter also refers to the new skill set need that will allow individuals to take advantage of these opportunities.