How does technology influence labor market dynamics? 🔊
Technology shapes labor market dynamics by influencing job creation, roles, and skills required in the workforce. Automation and artificial intelligence can lead to the displacement of certain roles, necessitating upskilling or reskilling of employees. Conversely, technology also generates new job opportunities in fields such as data analytics, cybersecurity, and software development. The shift toward remote work has expanded talent pools, making it easier for companies to access diverse workforces. However, these changes demand adaptive approaches from both businesses and individuals to align skills with emerging market needs.
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