SlideShare a Scribd company logo
1 of 3
Download to read offline
WBGx: WDR1901x Course -The Future of Work: Preparing for Disruption
Final Project
Topic: A proposed solution which can convey how the nature of work is changing
and what your country/sector governments can do to prepare and support their
workforces:
Response in Artifact:
Machines are coming to take our jobs, it has been a concern for hundreds of years—at
least since the industrialization of weaving in the early 18th century, which raised
productivity and also fears that thousands of workers would be thrown out. Innovation and
technological progress have caused disruption, but they have created more prosperity than
they have destroyed. Yet today, we are riding a new wave of uncertainty as the pace of
innovation continues to accelerate and technology affects every part of our lives.
We know that robots are taking over thousands of routine tasks and will eliminate many low-
skill jobs in advanced economies and developing countries. At the same time, technology is
creating opportunities, paving the way for new and altered jobs, increasing productivity, and
improving the delivery of public services. When we consider the scope of the challenge to
prepare for the future of work, it is important to understand that many children currently in
primary school will work in jobs as adults that do not even exist today.
Innovation will continue to accelerate, but developing countries like India will need to take
rapid action to ensure they can compete in the economy of the future. They will have to
invest in their people with a fierce sense of urgency in health and education, which are the
building blocks of human capital to harness the benefits of technology.
Changing nature of work- Several facts have dominated the discussion on the changing
nature of work. However, only some of them are accurate in the context of emerging
economies.
First, technology is blurring the boundaries of the firm, as evident in the rise of platform
marketplaces. Using digital technologies, entrepreneurs are creating global platform–based
businesses that differ from the traditional production process in which inputs are provided at
one end and output delivered at the other. Platform companies often generate value by
creating a network effect that connects customers, producers, and providers, while
facilitating interactions in a multisided model.
Technology is reshaping the skills needed for work. The demand for less advanced skills
that can be replaced by technology is declining. At the same time, the demand for advanced
cognitive skills, socio-behavioral skills, and skill combinations associated with greater
adaptability is rising. Already evident in developed countries, this pattern is starting to
emerge in some developing countries as well. In Bolivia, the share of employment in high-
skill occupations increased by 8 percentage points from 2000 to 2014.
The idea of robots replacing workers is striking a nerve. However, the threat to jobs from
technology is exaggerated—and history has repeat- edly taught this lesson. The data on
global industrial jobs simply do not bear out these concerns. The decline in industrial
employment in many high-income economies over the last two decades is a well-studied
trend. Portugal, Singapore, and Spain are among the countries in which the share of
industrial employment has dropped 10 percent or more since 19911
. This change reflects a
shift in employment from manufacturing to services. By contrast, the share of industrial
employment, primarily manufacturing, has remained stable in the rest of the world. In low-
income countries, the proportion of the total labor force working in industry from 1991 to
2017 was consistently around 10 percent. The situation was stable in upper-middle-income
countries as well, at around 23 percent. In some developing countries, the share of
industrial employment over- all is going up. For example, in Vietnam it rose from 9 percent
in 1991 to 25 percent in 2017. In the Lao People’s Democratic Republic, the share of
industrial employment rose from 3 percent to 10 percent over the same period. These
countries have upgraded their human capital, bringing highly skilled young workers into the
labor market, who, together with new tech- nology, upgrade manufacturing production. As a
result, industrial employ- ment in East Asia continues to rise, whereas in other developing
economies it is stable.
Two forces are increasing the demand for industrial products and therefore the demand for
labor in the industrial sector. On the one hand, the falling costs of connectivity are leading to
more capital-intensive exports from advanced economies and more labor-intensive exports
from emerging economies. On the other, rising incomes are increasing consumption of
existing products and the demand for new ones.
In many developing countries like India a large number of workers remain in low-productivity
jobs, often in informal sector firms whose access to technology is poor. Informality has
remained high over the last two decades despite improvements in the business regulatory
environment. Indeed, the share of informal workers is as high as 90 percent in some
emerging economies. The Indian labor market is characterized by predominance
of informal employment with more than 90 per cent of India's informal workforce working
as self-employed and casual workers2
.
Technology, in particular social media, affects the perception of rising inequality in many
countries. People have always aspired toward a higher quality of life and participation in the
economic growth they see around them. Increased exposure through social media and
other digital communications to different, often divergent lifestyles and opportunities only
heightens this feeling. Where aspirations are linked to opportunities, the conditions are ripe
for inclusive, sustainable economic growth. But if there is inequality of opportunity or a
mismatch between available jobs and skills, frustration can lead to migration or societal
fragmentation. The refugee crises in Europe, the war-pushed migrants from the Syrian Arab
																																																								
1	World	Development	Report	2019	
2
An Analysis of the Informal Labour Market in India Special Feature- Confederation of Indian Industry. Link
http://www.ies.gov.in/pdfs/CII%20EM-october-2014.pdf
Republic, and the Arab Spring are notable manifestations of this perception.
Considering that globally 2 billion people are working in the informal economy, where so
many lack any protection. Social insurance is virtually nonexistent in low-income countries,
and even in upper-middle-income countries it reaches only 28 percent of the poorest
people.
In India Governmnet of India has started Pradhanmantri Jiwan Jyoti Bima Yojna in year
2015. This scheme aims to increase the number of insurers in India which is currently very
low. It’s for an individual who is the sole earning member of the family and have dependents
under him/her. It ensures a term insurance cover of Rs 200000 to the dependants in case of
the policyholder’s death.
Country Government in India can do following actions:
1. Investing in human capital, particularly early childhood education, to develop high-order
cognitive and sociobehavioral skills in addition to foundational skills as Govt of India is
implementing Integrated child development Scheme from 1975 and also launched POSHAN
Abhiyaan to improve helath 7 nutrtional status of pregnant, lactating women and children
under to cover 1000 days window of opportunities, Govt need to continue these efforts in
sustainable way.
2. Enhancing social protection. A solid guaranteed social minimum and strengthened social
insurance, complemented by reforms in labor market rules, would achieve this goal.
3. Creating fiscal space for public financing of human capital development and social
protection. Property taxes in large cities, excise taxes on sugar or tobacco, and carbon
taxes are among the ways to increase a government’s revenue. Another is to eliminate the
tax avoidance techniques that many firms use to increase their profits. Governments can
optimize their taxation policy and improve tax administration to increase revenue with- out
resorting to tax rate increases.
4. The most significant investments that people, firms, and governments can make in the
changing nature of work are in enhancing human capital. A basic level of human capital,
such as literacy and numeracy, is needed for economic survival. Human capital is important
because there is now a higher premium on adaptability.
5. Social assistance and insurance systems should also be adapted to the changing nature
of work. When social protection is established, flexible labor regulation eases work
transitions.
Therefore by adopting above explained measures Government of India can support future
and existing workforce for changing nature of work
…………………………………………………………………

More Related Content

What's hot

Impact of globalization on small scale industries in
Impact of globalization on small scale industries inImpact of globalization on small scale industries in
Impact of globalization on small scale industries in
Aafaq Malik
 
21st century skills_education_and_competitiveness_guide
21st century skills_education_and_competitiveness_guide21st century skills_education_and_competitiveness_guide
21st century skills_education_and_competitiveness_guide
Eko Sudibyo
 
Msme strategic-action-plan
Msme strategic-action-planMsme strategic-action-plan
Msme strategic-action-plan
jabeenabegum01
 
Impact of Commercial Banking on Nigeria Industrial Sector
Impact of Commercial Banking on Nigeria Industrial SectorImpact of Commercial Banking on Nigeria Industrial Sector
Impact of Commercial Banking on Nigeria Industrial Sector
ijtsrd
 
Industry, innovation and infrastructure
Industry, innovation and infrastructureIndustry, innovation and infrastructure
Industry, innovation and infrastructure
fatimazaheer12
 

What's hot (20)

IS CHINA A THREAT TO THE INDIAN INDUSTRY
IS CHINA A THREAT TO THE INDIAN INDUSTRYIS CHINA A THREAT TO THE INDIAN INDUSTRY
IS CHINA A THREAT TO THE INDIAN INDUSTRY
 
Impact of globalization on small scale industries in
Impact of globalization on small scale industries inImpact of globalization on small scale industries in
Impact of globalization on small scale industries in
 
Country Analysis - India vs Germany
Country Analysis - India vs GermanyCountry Analysis - India vs Germany
Country Analysis - India vs Germany
 
Dirk Pilat-La nueva revolución de la producción: la transformación digital
Dirk Pilat-La nueva revolución de la producción: la transformación digitalDirk Pilat-La nueva revolución de la producción: la transformación digital
Dirk Pilat-La nueva revolución de la producción: la transformación digital
 
India - Globalisation
India - GlobalisationIndia - Globalisation
India - Globalisation
 
Impact of Government Policies on productivity
Impact of Government Policies on productivityImpact of Government Policies on productivity
Impact of Government Policies on productivity
 
Chicago 10 oct2007
Chicago 10 oct2007Chicago 10 oct2007
Chicago 10 oct2007
 
An exploratory evidence of youth’s ict empowerment in nigeria
An exploratory evidence of youth’s ict empowerment in nigeriaAn exploratory evidence of youth’s ict empowerment in nigeria
An exploratory evidence of youth’s ict empowerment in nigeria
 
IS CHINA A THREAT TO INDIAN INDUSTRY
IS CHINA A THREAT TO INDIAN INDUSTRYIS CHINA A THREAT TO INDIAN INDUSTRY
IS CHINA A THREAT TO INDIAN INDUSTRY
 
Structure of SA economy
Structure of SA economyStructure of SA economy
Structure of SA economy
 
PhD Publication 1
PhD Publication 1PhD Publication 1
PhD Publication 1
 
White Paper - Business Opportunities Between UK & Telangana
White Paper - Business Opportunities Between UK & TelanganaWhite Paper - Business Opportunities Between UK & Telangana
White Paper - Business Opportunities Between UK & Telangana
 
SkillVouchers
SkillVouchersSkillVouchers
SkillVouchers
 
21st century skills_education_and_competitiveness_guide
21st century skills_education_and_competitiveness_guide21st century skills_education_and_competitiveness_guide
21st century skills_education_and_competitiveness_guide
 
Seondary and tertiary sectors in SA
Seondary and tertiary sectors in SASeondary and tertiary sectors in SA
Seondary and tertiary sectors in SA
 
Msme strategic-action-plan
Msme strategic-action-planMsme strategic-action-plan
Msme strategic-action-plan
 
Indian Growth and Competitiveness
Indian Growth and Competitiveness Indian Growth and Competitiveness
Indian Growth and Competitiveness
 
Overview of indian industries
Overview of indian industries Overview of indian industries
Overview of indian industries
 
Impact of Commercial Banking on Nigeria Industrial Sector
Impact of Commercial Banking on Nigeria Industrial SectorImpact of Commercial Banking on Nigeria Industrial Sector
Impact of Commercial Banking on Nigeria Industrial Sector
 
Industry, innovation and infrastructure
Industry, innovation and infrastructureIndustry, innovation and infrastructure
Industry, innovation and infrastructure
 

Similar to Changing nature of work: Course Future of Work

[GE Innovation Forum 2015] The Future of Work in Korea (English)
[GE Innovation Forum 2015] The Future of Work in Korea (English)[GE Innovation Forum 2015] The Future of Work in Korea (English)
[GE Innovation Forum 2015] The Future of Work in Korea (English)
GE코리아
 

Similar to Changing nature of work: Course Future of Work (20)

Technological advancements, changing nature of work and the way forward for I...
Technological advancements, changing nature of work and the way forward for I...Technological advancements, changing nature of work and the way forward for I...
Technological advancements, changing nature of work and the way forward for I...
 
Creating Jobs Globally
Creating Jobs GloballyCreating Jobs Globally
Creating Jobs Globally
 
Changing Nature of Work 2019
Changing Nature of Work 2019Changing Nature of Work 2019
Changing Nature of Work 2019
 
World bank final project
World bank   final projectWorld bank   final project
World bank final project
 
Wef future of_jobs_2020
Wef future of_jobs_2020Wef future of_jobs_2020
Wef future of_jobs_2020
 
Technology and its Role in Development
Technology and its Role in DevelopmentTechnology and its Role in Development
Technology and its Role in Development
 
WEF future of jobs 2020
WEF future of jobs 2020WEF future of jobs 2020
WEF future of jobs 2020
 
Wef future of_jobs_2020
Wef future of_jobs_2020Wef future of_jobs_2020
Wef future of_jobs_2020
 
Proposed solutions to the problems associated with the changing nature of wor...
Proposed solutions to the problems associated with the changing nature of wor...Proposed solutions to the problems associated with the changing nature of wor...
Proposed solutions to the problems associated with the changing nature of wor...
 
[GE Innovation Forum 2015] The Future of Work in Korea (English)
[GE Innovation Forum 2015] The Future of Work in Korea (English)[GE Innovation Forum 2015] The Future of Work in Korea (English)
[GE Innovation Forum 2015] The Future of Work in Korea (English)
 
How can haiti prepare for disruption in the future of work
How can haiti prepare for disruption in the future of workHow can haiti prepare for disruption in the future of work
How can haiti prepare for disruption in the future of work
 
The future of work and skills development
The future of work and skills developmentThe future of work and skills development
The future of work and skills development
 
208 gwes unit5a
208 gwes unit5a208 gwes unit5a
208 gwes unit5a
 
What the Future of Work Means to Us
What the Future of Work Means to UsWhat the Future of Work Means to Us
What the Future of Work Means to Us
 
Major Barriers of Industrialization
Major Barriers of IndustrializationMajor Barriers of Industrialization
Major Barriers of Industrialization
 
MIT TR - Colombia ICT Ecosystems - Intl Trends in ICT - Rpt 1 - Jan 28 2014
MIT TR - Colombia ICT Ecosystems - Intl Trends in ICT - Rpt 1 - Jan 28 2014MIT TR - Colombia ICT Ecosystems - Intl Trends in ICT - Rpt 1 - Jan 28 2014
MIT TR - Colombia ICT Ecosystems - Intl Trends in ICT - Rpt 1 - Jan 28 2014
 
Preparing for the nature of changing work
Preparing for the nature of changing workPreparing for the nature of changing work
Preparing for the nature of changing work
 
Technology Is Eden Essay
Technology Is Eden EssayTechnology Is Eden Essay
Technology Is Eden Essay
 
Re-Dynamizing the Job Machine in MENA (English)
Re-Dynamizing the Job Machine in MENA (English)Re-Dynamizing the Job Machine in MENA (English)
Re-Dynamizing the Job Machine in MENA (English)
 
The skills that matter in the race between education and technology. Harry An...
The skills that matter in the race between education and technology. Harry An...The skills that matter in the race between education and technology. Harry An...
The skills that matter in the race between education and technology. Harry An...
 

Recently uploaded

如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证
如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证
如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证
gakamzu
 
Biography of Doctor Arif Patel Preston UK
Biography of Doctor Arif Patel Preston UKBiography of Doctor Arif Patel Preston UK
Biography of Doctor Arif Patel Preston UK
ArifPatel42
 
一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证
一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证
一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证
eqaqen
 
如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证
gkyvm
 
如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证
gakamzu
 
b-sc-agri-course-curriculum.pdf for Karnataka state board
b-sc-agri-course-curriculum.pdf for Karnataka state boardb-sc-agri-course-curriculum.pdf for Karnataka state board
b-sc-agri-course-curriculum.pdf for Karnataka state board
ramyaul734
 
如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证
epyhpep
 
obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...
obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...
obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...
yulianti213969
 

Recently uploaded (20)

LinkedIn For Job Search Presentation May 2024
LinkedIn For Job Search Presentation May 2024LinkedIn For Job Search Presentation May 2024
LinkedIn For Job Search Presentation May 2024
 
Chennai (Chennai) Independent Escorts - 9632533318 100% genuine
Chennai (Chennai) Independent Escorts - 9632533318 100% genuineChennai (Chennai) Independent Escorts - 9632533318 100% genuine
Chennai (Chennai) Independent Escorts - 9632533318 100% genuine
 
UXPA Boston 2024 Maximize the Client Consultant Relationship.pdf
UXPA Boston 2024 Maximize the Client Consultant Relationship.pdfUXPA Boston 2024 Maximize the Client Consultant Relationship.pdf
UXPA Boston 2024 Maximize the Client Consultant Relationship.pdf
 
B.tech civil major project by Deepak Kumar
B.tech civil major project by Deepak KumarB.tech civil major project by Deepak Kumar
B.tech civil major project by Deepak Kumar
 
如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证
如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证
如何办理(UIUC毕业证书)UIUC毕业证香槟分校毕业证成绩单本科硕士学位证留信学历认证
 
UIowa Application Instructions - 2024 Update
UIowa Application Instructions - 2024 UpdateUIowa Application Instructions - 2024 Update
UIowa Application Instructions - 2024 Update
 
Biography of Doctor Arif Patel Preston UK
Biography of Doctor Arif Patel Preston UKBiography of Doctor Arif Patel Preston UK
Biography of Doctor Arif Patel Preston UK
 
Mallu Aunts ℂall Girls Ahmedabad ℂall Us 6378878445 Top ℂlass ℂall Girl Servi...
Mallu Aunts ℂall Girls Ahmedabad ℂall Us 6378878445 Top ℂlass ℂall Girl Servi...Mallu Aunts ℂall Girls Ahmedabad ℂall Us 6378878445 Top ℂlass ℂall Girl Servi...
Mallu Aunts ℂall Girls Ahmedabad ℂall Us 6378878445 Top ℂlass ℂall Girl Servi...
 
Rachel_Ochsenschlager_Resume_May_2024.docx
Rachel_Ochsenschlager_Resume_May_2024.docxRachel_Ochsenschlager_Resume_May_2024.docx
Rachel_Ochsenschlager_Resume_May_2024.docx
 
一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证
一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证
一比一定(购)中央昆士兰大学毕业证(CQU毕业证)成绩单学位证
 
Ochsen Screenplay Coverage - JACOB - 10.16.23.pdf
Ochsen Screenplay Coverage - JACOB - 10.16.23.pdfOchsen Screenplay Coverage - JACOB - 10.16.23.pdf
Ochsen Screenplay Coverage - JACOB - 10.16.23.pdf
 
如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(TMU毕业证书)多伦多都会大学毕业证成绩单本科硕士学位证留信学历认证
 
如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(USC毕业证书)南加利福尼亚大学毕业证成绩单本科硕士学位证留信学历认证
 
b-sc-agri-course-curriculum.pdf for Karnataka state board
b-sc-agri-course-curriculum.pdf for Karnataka state boardb-sc-agri-course-curriculum.pdf for Karnataka state board
b-sc-agri-course-curriculum.pdf for Karnataka state board
 
Fracture design PowerPoint presentations
Fracture design PowerPoint presentationsFracture design PowerPoint presentations
Fracture design PowerPoint presentations
 
Novo Nordisk Kalundborg. We are expanding our manufacturing hub in Kalundborg...
Novo Nordisk Kalundborg. We are expanding our manufacturing hub in Kalundborg...Novo Nordisk Kalundborg. We are expanding our manufacturing hub in Kalundborg...
Novo Nordisk Kalundborg. We are expanding our manufacturing hub in Kalundborg...
 
We’re looking for a junior patent engineer to join our Team!
We’re looking for a junior patent engineer to join our Team!We’re looking for a junior patent engineer to join our Team!
We’re looking for a junior patent engineer to join our Team!
 
如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(Columbia毕业证书)哥伦比亚大学毕业证成绩单本科硕士学位证留信学历认证
 
👉 Tirunelveli Call Girls Service Just Call 🍑👄6378878445 🍑👄 Top Class Call Gir...
👉 Tirunelveli Call Girls Service Just Call 🍑👄6378878445 🍑👄 Top Class Call Gir...👉 Tirunelveli Call Girls Service Just Call 🍑👄6378878445 🍑👄 Top Class Call Gir...
👉 Tirunelveli Call Girls Service Just Call 🍑👄6378878445 🍑👄 Top Class Call Gir...
 
obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...
obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...
obat aborsi gresik wa 081336238223 jual obat aborsi cytotec asli di gresik782...
 

Changing nature of work: Course Future of Work

  • 1. WBGx: WDR1901x Course -The Future of Work: Preparing for Disruption Final Project Topic: A proposed solution which can convey how the nature of work is changing and what your country/sector governments can do to prepare and support their workforces: Response in Artifact: Machines are coming to take our jobs, it has been a concern for hundreds of years—at least since the industrialization of weaving in the early 18th century, which raised productivity and also fears that thousands of workers would be thrown out. Innovation and technological progress have caused disruption, but they have created more prosperity than they have destroyed. Yet today, we are riding a new wave of uncertainty as the pace of innovation continues to accelerate and technology affects every part of our lives. We know that robots are taking over thousands of routine tasks and will eliminate many low- skill jobs in advanced economies and developing countries. At the same time, technology is creating opportunities, paving the way for new and altered jobs, increasing productivity, and improving the delivery of public services. When we consider the scope of the challenge to prepare for the future of work, it is important to understand that many children currently in primary school will work in jobs as adults that do not even exist today. Innovation will continue to accelerate, but developing countries like India will need to take rapid action to ensure they can compete in the economy of the future. They will have to invest in their people with a fierce sense of urgency in health and education, which are the building blocks of human capital to harness the benefits of technology. Changing nature of work- Several facts have dominated the discussion on the changing nature of work. However, only some of them are accurate in the context of emerging economies. First, technology is blurring the boundaries of the firm, as evident in the rise of platform marketplaces. Using digital technologies, entrepreneurs are creating global platform–based businesses that differ from the traditional production process in which inputs are provided at one end and output delivered at the other. Platform companies often generate value by creating a network effect that connects customers, producers, and providers, while facilitating interactions in a multisided model. Technology is reshaping the skills needed for work. The demand for less advanced skills that can be replaced by technology is declining. At the same time, the demand for advanced cognitive skills, socio-behavioral skills, and skill combinations associated with greater adaptability is rising. Already evident in developed countries, this pattern is starting to emerge in some developing countries as well. In Bolivia, the share of employment in high- skill occupations increased by 8 percentage points from 2000 to 2014. The idea of robots replacing workers is striking a nerve. However, the threat to jobs from
  • 2. technology is exaggerated—and history has repeat- edly taught this lesson. The data on global industrial jobs simply do not bear out these concerns. The decline in industrial employment in many high-income economies over the last two decades is a well-studied trend. Portugal, Singapore, and Spain are among the countries in which the share of industrial employment has dropped 10 percent or more since 19911 . This change reflects a shift in employment from manufacturing to services. By contrast, the share of industrial employment, primarily manufacturing, has remained stable in the rest of the world. In low- income countries, the proportion of the total labor force working in industry from 1991 to 2017 was consistently around 10 percent. The situation was stable in upper-middle-income countries as well, at around 23 percent. In some developing countries, the share of industrial employment over- all is going up. For example, in Vietnam it rose from 9 percent in 1991 to 25 percent in 2017. In the Lao People’s Democratic Republic, the share of industrial employment rose from 3 percent to 10 percent over the same period. These countries have upgraded their human capital, bringing highly skilled young workers into the labor market, who, together with new tech- nology, upgrade manufacturing production. As a result, industrial employ- ment in East Asia continues to rise, whereas in other developing economies it is stable. Two forces are increasing the demand for industrial products and therefore the demand for labor in the industrial sector. On the one hand, the falling costs of connectivity are leading to more capital-intensive exports from advanced economies and more labor-intensive exports from emerging economies. On the other, rising incomes are increasing consumption of existing products and the demand for new ones. In many developing countries like India a large number of workers remain in low-productivity jobs, often in informal sector firms whose access to technology is poor. Informality has remained high over the last two decades despite improvements in the business regulatory environment. Indeed, the share of informal workers is as high as 90 percent in some emerging economies. The Indian labor market is characterized by predominance of informal employment with more than 90 per cent of India's informal workforce working as self-employed and casual workers2 . Technology, in particular social media, affects the perception of rising inequality in many countries. People have always aspired toward a higher quality of life and participation in the economic growth they see around them. Increased exposure through social media and other digital communications to different, often divergent lifestyles and opportunities only heightens this feeling. Where aspirations are linked to opportunities, the conditions are ripe for inclusive, sustainable economic growth. But if there is inequality of opportunity or a mismatch between available jobs and skills, frustration can lead to migration or societal fragmentation. The refugee crises in Europe, the war-pushed migrants from the Syrian Arab 1 World Development Report 2019 2 An Analysis of the Informal Labour Market in India Special Feature- Confederation of Indian Industry. Link http://www.ies.gov.in/pdfs/CII%20EM-october-2014.pdf
  • 3. Republic, and the Arab Spring are notable manifestations of this perception. Considering that globally 2 billion people are working in the informal economy, where so many lack any protection. Social insurance is virtually nonexistent in low-income countries, and even in upper-middle-income countries it reaches only 28 percent of the poorest people. In India Governmnet of India has started Pradhanmantri Jiwan Jyoti Bima Yojna in year 2015. This scheme aims to increase the number of insurers in India which is currently very low. It’s for an individual who is the sole earning member of the family and have dependents under him/her. It ensures a term insurance cover of Rs 200000 to the dependants in case of the policyholder’s death. Country Government in India can do following actions: 1. Investing in human capital, particularly early childhood education, to develop high-order cognitive and sociobehavioral skills in addition to foundational skills as Govt of India is implementing Integrated child development Scheme from 1975 and also launched POSHAN Abhiyaan to improve helath 7 nutrtional status of pregnant, lactating women and children under to cover 1000 days window of opportunities, Govt need to continue these efforts in sustainable way. 2. Enhancing social protection. A solid guaranteed social minimum and strengthened social insurance, complemented by reforms in labor market rules, would achieve this goal. 3. Creating fiscal space for public financing of human capital development and social protection. Property taxes in large cities, excise taxes on sugar or tobacco, and carbon taxes are among the ways to increase a government’s revenue. Another is to eliminate the tax avoidance techniques that many firms use to increase their profits. Governments can optimize their taxation policy and improve tax administration to increase revenue with- out resorting to tax rate increases. 4. The most significant investments that people, firms, and governments can make in the changing nature of work are in enhancing human capital. A basic level of human capital, such as literacy and numeracy, is needed for economic survival. Human capital is important because there is now a higher premium on adaptability. 5. Social assistance and insurance systems should also be adapted to the changing nature of work. When social protection is established, flexible labor regulation eases work transitions. Therefore by adopting above explained measures Government of India can support future and existing workforce for changing nature of work …………………………………………………………………