There are a few truths that are beginning to emerge with the advent and proliferation of the digital age, particularly of the new variety – which is increasingly Artificial intelligence (AI) driven.
One of these is that the digital age will require more work to be done by robots and algorithms and less by humans. Many jobs that are currently being undertaken by humans will be replaced by machines, and the number of new jobs being created in industry and business will be far fewer in the pre-AI information age. There are further insights that the digital age offers – the kind of jobs being created by traditional sectors in the industry may be at the very high end, and many of the more manual and white-collar jobs will be replaced by machines.
This will pose a global challenge – after all the global population is rising, particularly in the emerging world, and where will all this new labor force be accommodated? The problem is even more serious – many professionals will see their jobs and careers disappear, during their working life and may struggle to find new jobs. This will pose serious social challenges.
So, is digital all bad news. We would argue not. There is no denying the fact that many manual and skilled jobs will cease to exist, and many people will not be qualified or experienced for many of the specific jobs of the AI era. However, the digital platform will allow many more people to open digital franchises to sell their products and services to customers who were previously inaccessible.
For example, a bank clerk who gets laid off can perhaps provide Guitar training to school children by advertising himself on the internet. He may become popular, and maybe his wages could even be north of what he would have achieved in his banking job.
There will be numerous new jobs and professions that will open up when humans take a mental shift on what they can provide to other humans based on their talent and abilities. If you have any doubt about this, have a look at Tik Tok in China, the portal boasts many innovative ways in which ordinary people are turning into entrepreneurs.
Traditional jobs have been on the decline since the last couple of years. New opportunities in existing fields are not being generated at the required pace. Entrepreneurship in conventional domains is getting crowded with deteriorating margins and prevalence of monopolies and oligopolies due to better communication, transportation, labor availabilities. Youth has been forced to look for newer avenues for employment and sustenance.
More people can generate income via social media, e-commerce, and other internet-enabled platforms. People monetize performances like acting, singing, and parodying. Photography and video editing skills are also getting monetized. People with huge followings on social media earn money by acting as influencers for various products and services. Sellers are using Amazon and E-Bay to increase their reach and enhance their profits. There are blogging opportunities, which are sometimes gets picked up by publishing houses which pays for it.
A lot of remote jobs are available. People get the option to work from home. The Internet has given us lots of options. Those who look for work-life balance, sometimes go for online remote jobs.