LAHORE: Artificial intelligence and other emerging technologies have enabled automation to scale posing legitimate workforce threats. But, automation is simultaneously creating and recreating jobs that may be the future of work.
The fear of getting jobless should be set aside because failure to adapt to new technologies would ultimately result in closure of existing low-tech enterprises and loss of jobs. New technology does uproot numerous jobs as many jobs could be performed by efficient machines without need of human workforce.
The products or services produced through high technologies would be of high quality and lower cost. This is the reason that amid the stoked fears of automation, discernible signals of the future are emerging and provide good reason to carefully analyse shifting tides.
Emerging firms are aggressively adopting leading technologies and deploying them in diverse and unanticipated applications. Tracing data footprints of these firms provides evidence of novel business models, new micro-industries, and increasing demand for the skills of the future.
Amid the stoked fears of automation, our entrepreneurs unfortunately are trying their best to generate income through obsolete technologies and the state is seen facilitating them through subsidies. In the second decade of this century for instance, when inefficient spinning mills were closing, many well performing spinners acquired these smaller failing mills adding thousands of spindles to benefit from...
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