What are the factors related to job displacement due to automation?

Job displacement due to automation is influenced by several factors. Firstly, the level of technological advancement plays a crucial role. As automation technologies such as artificial intelligence and robotics advance, the potential for job displacement increases. Secondly, the type of industry or occupation is a significant factor. Jobs that involve routine and repetitive tasks are more susceptible to automation, while those requiring complex problem-solving or creativity are less likely to be automated. Additionally, the level of skill required for the job also affects the vulnerability to displacement. Low-skilled jobs are more easily automated, whereas jobs requiring high levels of expertise or human interaction are less likely to be replaced by machines. Lastly, the cost-effectiveness of automation compared to human labor is a determining factor. If automation proves to be more cost-efficient, employers may opt for replacing jobs with machines, leading to job displacement.

This mind map was published on 9 October 2023 and has been viewed 90 times.