Automation Revolution: Adapting to Transformative Changes in Employment and Industry Dynamics

Author Reg. ID: TIJER_151567

Published Paper Id: TIJER2403104

Published In: Volume 11 Issue 3, March-2024

Abstract: This research paper explores the multifaceted impact of automation on employment across various industries, with a particular focus on the manufacturing sector. In recent years, advancements in technology, including robotics, AI, and machine learning, have accelerated the adoption of automation, reshaping traditional job roles and necessitating a nuanced understanding of its implications. The study examines contrasting views regarding job displacement and creation, emphasizing the emergence of new job opportunities alongside concerns about skill mismatches and income inequality. Additionally, the role of skilled workers and the importance of reskilling initiatives are discussed, highlighting the growing demand for workers proficient in operating and maintaining automated systems. The paper evaluates automation's influence on wage dynamics, considering both the potential for lower wages due to job displacement and the possibility of higher wages resulting from increased productivity. Furthermore, the need for robust reskilling and training programs is emphasized to address skill mismatches and ensure workforce adaptability in an automated environment. The study also explores the concept of human-machine collaboration and its implications for productivity and innovation. Finally, the broader economic ramifications of automation, including its impact on income inequality and wealth distribution, are examined, with recommendations for policy interventions aimed at fostering inclusive growth. Overall, this research offers valuable insights into the complex interplay between automation and employment, emphasizing the importance of proactive measures to navigate the evolving labour landscape effectively.

Keywords: Key Words – Automation, Artificial Intelligence ,Innovation

Downloads: 00030

Page No: a760-a770

Country: DAMOH, MADHYA PRADESH, India

Research Area: Science All

Published Paper URL: https://tijer.org/TIJER/viewpaperforall?paper=TIJER2403104

Published Paper PDF: https://tijer.org/TIJER/papers/TIJER2403104

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