Tech's Transformative Tug-of-War: Job Creator or Job Killer?

The debate over whether technology augments or replaces jobs has taken a turn as recent studies reveal technology's net destruction of jobs over the decades. With AI and robotics poised to accelerate this trend, implications range from global economic shifts to intensified U.S.-China tech wars.

For decades, the question of whether technology serves as a job creator or a job killer has sparked debate. However, recent studies indicate a troubling trend: technology has been eradicating more jobs than it creates. As AI and robotics advance, this dynamic is expected to intensify, with major implications for various sectors.

Historically, technological progress facilitated the creation of new industries, allowing displaced workers to transition into new roles. MIT economist David Autor argues this trend has stalled, with automation outpacing job creation since 1980. Automation is becoming more prevalent in professional and managerial roles, traditionally seen as safe havens for human labor.

As AI outstrips human capabilities, especially in cognitive tasks, a significant portion of jobs in developed economies faces the risk of automation. Such changes could lead to deflation and require government intervention for wealth redistribution, according to experts. The unfolding tech rivalry between the U.S. and China adds another layer of global complexity.

(With inputs from agencies.)