Question

A. Discuss the pros and cons that surround emoloyment rates.

B. Evaluate the positive and negative aspects of technology growth.

C. Analyze how automation and artificial intelligence will affect the workplace over the next decade.

Answer 1

Answer:
A) Pros and Cons that surrounds employment rates are as follows:
Pros:

• Lower unemployment rate implies that the nation is properly utilizing its human resource, so its economic growth would increase and vice versa.
• It also brings prosperity in the economy and leads to trade surplus of the nation if low unemployment rate is there.

Cons:

• A low unemployment rate implies there are fewer laborers accessible to fill work openings. This makes an advantage for work searchers. It makes more openings for those who already had trouble in finding a work. This seems incorporate the less taught, unpracticed, unskilled people, ex-offenders, etc.
• A low employment rate will increase the demand for labor and hence their cost to acquire which can increase overall cost to prepare the product and may leads to inflation.

B) Positive and negative aspects of technology growth are mentioned below:
Positive:

• Technology growth increases productivity of economy.
• It also makes life easier and let us achieve things which were dreamt in the past.

Negative:

• It has made us physically weak.
• We are socially separated from each other and virtually more involved.

C) Automation and artificial intelligence will affect the workplace over the next decade :

• Need of humans in the companies will decrease be it at reception or any work that is monotonous in nature.
• Automation will increase the productivity of humans by 100 folds.
• Artificial intelligence will let us achieve things which are dream for now. AI can think like human and process as fast as computer so it would be best of both the world.
• It will let us find the way to efficiently utilize many resources which are limited in nature.

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