Open AccessSelf Service Technologies: A Cause Of Unemployment
Author(s) -
Cathy-Austin Otekhile,
Milan Zelený
Publication year - 2016
Publication title -
international journal of entrepreneurial knowledge
Language(s) - English
Resource type - Journals
eISSN - 2336-2952
pISSN - 2336-2960
DOI - 10.37335/ijek.v4i1.38
Subject(s) - unemployment , productivity , business , service (business) , tertiary sector of the economy , unemployment rate , emerging technologies , industrial organization , job creation , labour economics , economics , marketing , economic growth , computer science , artificial intelligence
The self-service technologies(SSTs) are fast changing the conventional way of transacting business by business organisations. The rapid innovation of self-service technologies and its adoption and usages in all facets of human systems is acclaimed to be fast rendering low skilled workers jobless. The major sectors of the economy in advanced economies have reached their peaks and can no longer provide new employment due to an increase in the productivity growth rate as a result of technology advances. These SSTs have in no small measure brought about an increase in productivity growth rate, cost reduction and anincrease in the speed of service delivery to customers. This paper examines if self-service technologies truly are the cause of persistent unemployment through a study of the long term metamorphosis of the major economic sectors in advanced economies. This study revealed that the SSTs presents both risks and opportunities.