Question

QUESTION : WHAT IS YOUR OPINION / REVIEW ABOUT THIS PASSAGE?

The world continues to become more technologically advanced, and as such more companies are using the technology to their advantage in order to streamline processes and decrease the need for man power. Artificial Intelligence is rapidly making its way into cities and are limiting the jobs available to the city’s population. While AI may save companies money and save consumers time, there may be a long-term impact on the economy. For example, there are many banks who have implemented apps that allow mobile deposits or even have ATM’s that allow mobile deposits, which reduces the need for an employee in that position. My bank does not even have tellers outside anymore because they have been replaced with two machines that can complete the same transactions for a fraction of the cost. Researchers have found that between 33% and 44% of people work in jobs considered at high risk because their positions can be automated (Pervane, Gu 2019). The majority of these jobs are retail salespersons, cashiers, and office workers. I have been in HR for over 8 years and I can understand from an employer aspect why automation is beneficial in these roles as turnover is typically very high in retail, however a forecasted decrease in available jobs needs to be addressed.

Technology advancement is not going to stop or slow down, so we as a society need to address what labor skill gaps there are in the job market with the increase of AI. Pervane and Gu of MIT Sloan suggest that cities can prepare by assessing how well their communities are positioned for the coming technological changes, they can remain in close communication with employers in order to better understand the new AI being used and the impact on the workforce, and cities should invest in retraining programs in order to mitigate risks posed by the increased use of AI.

ANSWER HAS TO BE IN 250 WORDS

Answer 1

Answer :- With the increase in technology, The businesses are benefited from various ways like increase in profits (as result of increased sales due to availability of their products to customers at every place), less employees costs, better customer service, mitigating various business risks quickly etc. However, at the same time (due to increased technology), Many people across every nation facing unemployment problem because advanced technology can now do the job of as equal as to earlier many people do for a business organization. To mitigate unemployment problem during technology advancement phase, An individual (employee) should be well aware and trained himself of technology impacts. Like in retail sector, An individual should tell management about his labor skills matching with technology advances.

During the technology improvement, A person should be in position to start his business operations (even at small level) independently. Every person should attend more seminars, conferences, and training sessions to understand what is technology advancement and its impact on his day-to-day life (on his career prospects).

There is one basic principle in the life that those who adapt the changes (technological / environmental / any other change etc.) fast and in better way, they are definitely going to prosper / grow in their lives whether sooner or later.