Following the last article where we discussed the impact of Augmented and Virtual Reality on industries and how technological advancement is changing the way businesses operate, it’s now imperative for us to discover the effect of this change on the people within these industries.
Here is a classic example of this effect: in 2008, there were about 114,000 total newsroom employees in the US. This number includes the five industries that produce news: newspaper, radio, broadcast television, cable and “other information services”. By 2020, that number had declined to about 85,000, a loss of about 30,000 jobs. It is worthy of note that this period is also characterized by the advent of social media.
The ease that technology has brought to many business processes implies that many workers might lose their jobs. While it is true that employees and creatives have a significant part to play in their evolution to maintain relevance, could employers play a role in balancing their reliance on technology and keeping their staff?
Here are the opinions of three creatives.
“Creative destruction.” That’s what Joseph Schumpeter, a highly regarded economist, called it in the 1940s. It’s what happens when technological progress improves many people’s lives at the expense of others. Though every industry is prone to it, employers can help to mitigate the negative effect of this advancement on their staff. It requires thoughtful training and providing space and scenarios for their team to evolve.
In the long run, this thoughtfulness will, in turn, benefit employers. With staff becoming more innovative and tech-savvy, their ideas will help to enhance the company’s operations, leading to greater profits.
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