The changing nature of work

The way we work, the shape of our economic and organizational structures and the expectations of our employees have all undergone a fundamental shift in the 21st century. With technology as the catalyst, the momentum of this shift is ever increasing. Over the last century, rightly called as “Machine Era” machines have replaced workers in many tasks.

With introduction of robotics in many production line. On the other hand however, technology has created more jobs than it has displaced modifying the basic structure of work space.There is a continuous change in demand of workforce in adding categories developed by newer technologies while out forcing others. Robots are being introduced in manufacturing process in nearly all industries reducing the number of manual labor, while there is a new demand in market for engineers and operators to work on robots. This technological progress has transformed living standards. Life expectancy has gone up; basic health care and education are widespread, and most people have seen their incomes rise. And yet, fears of robot-induced unemployment often dominate discussions over the future of work.

The digital economy is expanding boundaries and driving a fundamental shift in the nature of firms. Physical presence is no longer a prerequisite to doing business: companies provide online services from abroad or profit from intangible assets such as software and intellectual property; digital platforms generate income from the capital of others. Firms in the digital economy can evolve much faster from local start-ups to global behemoths, often with few employees or tangible assets.

This paradigm shift in nature of businesses will definitely introduce more and more individuals with innovative ideas to start their own businesses without the need of investing millions in startups. A number of newer platforms are being introduced continuously making the economic, cultural and technological advancements to reach and every person virtually at their doorsteps. This has tremendously effected the way people used to plan for the careers.