Technology’s Impact
In a world that is rapidly changing, the technology’s impact on the modern labour market is rising.
What technonolical development brings?
All countries around the world are increasingly called upon to help their citizens cope with technological change, as technological developments have a huge impact on their every-day lives.
The impact of Technological Change
Technology does not exist in isolation; it impacts the ways we relate to each other, the health of local and global economies, and the stability of governments. One of the most significant tech-related challenges is the effect of artificial intelligence on labour markets – a study published in 2019 estimated that roughly one in four jobs in the US was “highly vulnerable” to automation. COVID-19 is likely to accelerate this trend, as workplaces look for ways to get more done with less human contact (and often with fewer personnel).
Tech-related economic disruptions have potential social impacts. Some may have a positive prospect – AI can help detect financial fraud, for example, diagnose diseases, or improve agricultural productivity. But technological change can also leave the most vulnerable members of the society behind. Governments face a difficult task in deciding how best to harvest the potential of new technologies without worsening the phenomena of social dislocation and exclusion. They need to embrace efficiency gains that result from technology, but do so with smart and adaptive regulation.
Is Agile Goverment the Key?
The “precautionary principle” should be used in all cases: we should not wait until the bad effects are proven, before enacting regulation to shield society from potential downsides of the use of technology and AI.
Countries have a major role to play in keeping the public aware of the technological changes likely to affect them most. For this reason, lifelong learning and education are important elements of societal progress.
The COVID-19 pandemic has boosted the big tech firms’ size and sway, prompting questions about whether they will adopt commensurate corporate responsibility practices. The evidence so far is mixed.
Some efforts, on the one hand, have drawn praise but on the other hand, some critics argue that these efforts pale in comparison to the companies’ revenue. What is certain is that technological progress is inevitable and the element that will make a huge difference is the agile governance.
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