By KASHIF ALI

It is no surprise that the debate over how technology affects unemployment has continued well into the 21st century. The current growth rate of technology is high, and there is growing unemployment, so connecting the two is not a far reach. For example, since the introduction of manual computing, which involved using machines such as the abacus to do manual computations, computer performance has improved by at least 1.7 trillion (Nordhaus 2007, 128). This creates a strong incentive for businesses to substitute machines for workers as machines are relatively more powerful, more reliable, and sometimes less expensive than human labour.

As machines increased, the number of tasks they could perform without human interaction increased. As opposed to weaving machinery that needed humans to operate, we now have self-driving cars that can handle themselves. I will refer to these autonomous machines as robots. These robots are the beginning of the new threat to technology on unemployment: artificial intelligence.

Artificial intelligence involves giving machines the ability to imitate intelligent human behaviour. This involves tasks such as visual perception, speech recognition, and decision-making. As soon as technology can do everything that humans can do, especially without the flaw of human error, there is no need for our labour. We have not reached this point yet, but we should be prepared for what could happen once we do.

There’s no doubt that technology can create new jobs just as well as it can destroy old jobs. Work-based apps on smartphones, tablets and laptops, combined with pervasive high-speed internet access, can increase efficiency and productivity. This technology also expands the workplace to wherever an employee happens to be. Employees today often have the option to work remotely or more flexibly. They can also work collaboratively with each other, as well as directly with clients and senior management in real-time, which not only makes them more efficient, it can be empowering.

According to Trading Economics global macro models and analysts’ expectations, the unemployment rate in Pakistan is expected to reach 4.70 percent by the end of 2022. In the long-term, the Pakistan Unemployment Rate is projected to trend around 4.50 percent in 2023, according to our econometric models.

(negative aspects)

1. With the introduction of technology of jobs, unskilled persons have to leave their jobs.
2. It reduces the chances of gaining government jobs like ATMs and banking sectors.
3. With the introduction of technology, unemployment has increased.
4. Many types of health issues.
5. It leads to human laziness.
6. Many people become jobless due to technology.

New technologies, such as automation, artificial intelligence and industries are considered dangerous and seen as a danger to existing jobs and future job-creation prospects. Technological change has usually made people worry about the future of employment. With the new threat of artificial intelligence, their worries are at an all-time high.

(Write Kashif Ali Jalbani, a Student of Commerce, hoping to give people a clearer picture of the issue; this paper analyses the current relationship between technological change and unemployment in the United States).