Automation and the future of work in developing countries

Artificial Intelligence, Robotics, Machine learning-led technological innovation has already laid the foundation for higher productivity, better-income jobs, and socio-economic prosperity. In the coming years, automation will completely transform the nature and future of work, making things better and faster. However, these developments have also created the fear that the fourth industrial revolution or automation will lead to widespread labor displacement, lower wage growth, and worsen income inequality, especially in developing economies. The concerns may somehow be true as the automated technologies will replace aging and unskilled workforce with the new and technically skilled. As the Organisation for Economic Co-operation and Development has stated in its'OECD Employment Outlook 2019' report, "the risk of job automation is real but the trend varies greatly across countries. Automation technologies do not just destroy jobs, they also create and transform them. Historically, the net effects of major technological revolutions on employment have been positive, and there are few signs of this trend changing radically in the years to come."