Future global trends in technology - Research Paper Example

?Running Head: Future Global Trends in Technology Future Global Trends in Technology [Institute’s Literature Review Annotated Outline on Future Global Trends in Technology Synthesis: How technology will impact the workforce in next 15 to 20 years? Introduction 1. Chongvilaivan, A. Hur, J. and Riyanto, Y. E. (2009). ‘Outsourcing Types, Relative Wages, and Demand for Skilled Workers.’ Economic Inquiry’. Volume 47, Issue 1, pp. 18-33. The paper studies the impact of outsourcing on relative earnings and the need for experienced workforce largely concentrating on aggregate outsourcing. The astonishing flow of technology in the last 20 years has provoked queries regarding technology’s effects on service levels, expertise in demand, and income. Technological advancements will be the main source of fresh jobs in the future. People notice that new jobs are being generated in the fields of artificial intelligence, processors, lasers, and optics. A general thought is that jobs in these fields are entirely new and will give rise to job openings for a lot many people. Highly developed technologies will enormously improve the skill requisites for future jobs, making jobs more complex, and therefore, need better skills set. It is a fact that technology is having an immense effect on the qualities of the workers; the workforce now needs a broader variety of skills. The diversity of jobs has risen to the level where a single employee should do things that were previously done by different workers. 2. Malul, M. (2009). ‘Older workers’ employment in dynamic technology changes.’ Journal of Socio-Economics. Volume 38, Issue 5, pp. 809-813. Prejudice against older employees and the higher obstacles for entry to the staff that these employees face are acknowledged well in the literature. This state of affairs turns out to be even poorer when technological modifications occur. In this paper, it was exposed that older employees can be severely harmed once such modifications take place. It was revealed that giving a financial assistance for older employees could help in lessening the unemployment among older employees, in conjunction with increase in development of the financial system and decline in the discrimination of salary distribution. Employers want their new workers to have enhanced basic expertise. Basic expertise improves employees' capabilities to gain knowledge of new techniques and will make the future workers more flexible as advancements in technology further modify the business. The human resources who fill these modifying careers have to update their understanding as well as expertise to stay employable. 3. Wajcman, J. (2008). ‘Life in the fast lane? Towards sociology of technology and time.’ The British Journal of Sociology. Volume 59, Issue 1, pp. 59-77. Suppositions regarding the pace of life expediting proliferate in modern social theory, whereas a number of aspects are adding to this fact, “information and communication technologies are seen as the main drivers” (Wajcman, 2008, p. 63). This article considers the method by which social logicians evaluate the conceptions of time as well as speed and after that observes how these arguments might be reviewed with respect to pragmatic research. Such research proves that time firmness has several aspects, and that the effect of digital gadgets such as cell phone is not just one of acceleration. Particularly, it is suggested that the studies of technology presents a more affluent study of the mutual association among technological improvement and altering time practices. The argument is that whereas the hitherto abandoned chronological aspect in sociological theory is currently being dealt with, there is an insistent requirement for better discussion to link social theory with comprehensive pragmatic studies. Otherwise, it will be very difficult to distinguish social science from science fiction. Technological Advancements at Workplace 1. McNamara, B. R. (2009). ‘The Skill Gap: Will the Future Workplace Become an Abyss.’ Techniques: Connecting Education and Careers. Volume 85, Issue 9, pp. 24-27. During the last two decades, learning activities have moved from the conventional classroom to ‘online presentations’. Companies are going for such technologies on an increasing pace, as educational technology is finally sufficient to lessen training expenditures whereas evidently improving its efficiency. Technology has acquired a great deal of focus as a result of its unique influence and momentum, the range of technological applications within the workplace, and its current, persistent existence. These systems are usually re-programmable, flexible, and mechanical. They can trace, process, correspond, and act in response to “huge amounts of information entered by users” (McNamara, 2009, p. 26), obtained from the surroundings, or accumulated internally. Recent research shows that the share of employees having processors with video panels along with keyboard input on the work increases from more or less 29 percent to 58 percent in the last 10 years. 2. Houck, C. (2011). ‘Multigenerational and virtual: How do we build a mentoring program for today's workforce?’ Performance Improvement. Volume 50, Issue 2, pp. 25-30. Different computer technological applications are expected to have different effects on the labor market. They may fluctuate in the degree to which they replace with human labor and rouse the demand for additionally experienced employees. It is as well essential to consider that the complication of technology as a product does not inevitably involve anything regarding the level of skill needed to get used to technological advancements or work in an automated setting. The mainstreams of individuals who utilize electrical gadgets or drive cars do not have a refined understanding of their fundamental standards. Whether high-technology apparatus is linked with high technology or extremely experienced jobs, is an empirical issue. This needs special focus on the idea of virtual mentoring caused by the lack of collocation of contemporary groups. 3. Carroll, W. R. and Wagar, T. H. (2010).’ Is there a relationship between information technology adoption and human resource management?’ Journal of Small Business and Enterprise Development. Volume 17, Issue 2, pp. 218-229. Jobs related with technology are growing at a significant pace. The rapidly emergent careers are in highly developed technology fields. Eight of the ten rapidly emergent professions may be termed as high-technology professions. These rapidly emergent professions consist of engineers, technicians, machinists, and repairers. Keeping this information in consideration, it would seem that highly developed technologies will be the key source of new professions in the future. Trends in Technology and Overall Workforce Levels 1. Tambe, P. and Hitt, L. M. (2011). ‘The Productivity of Information Technology Investments: New Evidence from IT Labor Data.’ Information Systems Research. Volume 5, pp. 32-73. Forecasts that computerization would cause mass job loss have continued for several decades. These apprehensions reemerged during the early years of the revitalization from the financial depression of the early 1990s when the comparatively slow decline within joblessness provoked panics of an unemployed recovery. Even though some specific jobs in certain industries may be unreasonably affected by technological transformation, retrospectively, the majority of supporters of technology-stimulated mass job loss appear to have flawed variations within the business cycle for more basic changes of the place of work as well as of labor market. Even though periods of high job loss are agonizing, they have revealed generally fluctuations in common business activity instead of the outcomes of sudden technological transformation. When macroeconomic situation has developed, joblessness has reduced. 2. Pick, J. B. and Azari, R. (2008). ‘Global digital divide: Influence of socioeconomic, governmental, and accessibility factors on information technology.’ Information Technology for Development. Volume 18, Issue 2, pp. 91-115. In particular, “technological advancement will have an impact on the skill requisites considered necessary for all jobs on every level” (Pick & Azari, 2008, p. 101). As job-related skill requisites modify due to technology, the education as well as training required by future and current employees should modify as well. Advancements in technology will generate a broader gap amid the high skill level professions and the low skill level professions which may give rise to a “bi-modal distribution of the workforce” (Pick & Azari, 2008, p. 101). A common supposition about the impact of technology on skill needed is that as technology progresses, the skills considered necessary to have job with technology also raise. This observation seems to be developed as a result of interaction with the scientific world. For instance, a number of individuals believe that an automated word processor is an extremely technological means that is much more intricate as compared to the manual or electronic typewriters with which they are relaxed. An additional example involves the backyard mechanics who were capable of repairing their own automobiles in the past. As a result of the advancements in technology, these ‘mechanically inclined’ people are having quite a lot of trouble understanding the new technical systems placed in latest models of these automobiles. 3. Simon, J. D. Kaiser, K. M. Beath, C. Goles, T. and Gallagher, K. (2007). ‘Information Technology Workforce Skills: Does Size Matter?’ Information Systems Management. Volume 24, Issue 4, pp. 345-359. As technology progresses, it certainly seems as though the skill necessities required to apply those technologies increase as well. Research shows that the impact of technology on employee’s expertise requirements is extremely different from the common hypothesis. Whereas the skill needs do rise at first, as a technology is additionally developed and advanced, the skill needs required to utilize that technology in fact decline. An example of this fact is the PC. When the PC was initially created, it was an extremely intricate device that was complicated to use. Subsequent to the development of technologies that bring about the invention of “transistors and after that integrated circuits” (Simon et al, 2007, p. 349), the computer turns out to be a smaller, more dominant device that was immensely more intricate as compared to the original computer. Nonetheless, as the computer turns much more highly developed, it also turns out to be more ‘easy to use’. Modifications in computer technology have led to the development of a device that is comparatively simple to use. The trend to make the use of equipment simple causes a ‘deskilling’ of the personnel as the technology decreases the requirement for the majority of the intellectual as well as physical effort considered necessary to carry out day-to-day work chores. 4. Abowd, J. M. Haltiwanger, J. Lane, J. McKinney, K. L. and Sandusky, K. (2007). ‘Technology and the Demand for Skill: An Analysis of Within and Between Firm Differences.’ Economic Research. Volume 10, Issue 3, pp. 87-104. It is important that efficiency increase with the intention of regaining a competitive advantage within the global market. The issue of increasing output is compounded by the continually modifying workplace in which a well-informed and skilled labor force is required to become accustomed to latest technological procedures. The latest trends in technology and the place of work recommend that the educational set of courses require amendment so as to equip apprentices with the understanding and skills considered necessary to be successful. For instance, the most successful as well as competent way of creating the future workforce may no longer take account of professional education's conventional stress on particular technical job expertise. As a result of the fast and intricate modifications in technological awareness and skill, the particular technical work skills, taught in a number of vocational programs are outdated when occupational graduates come into the workforce. Despite the fact that specific technical work skills will constantly be required, they are no longer an adequate provision for employment. Skill-Biased Technological Change 1. Threeton, M. D. (2006). ‘Ethical Use of Technology in the Workplace.’ Online Journal for Workforce Education and Development. Volume 2, Issue, 3, Article 2. One of the most distinguished expansions within the labor market is the dramatic growth in income discrimination. A number of economists argue that this “growth is attributable to IT, which has created an increased demand for skilled workers that has outstripped the growth in supply” (Threeton, 2006). Others argue that further structural as well as institutional aspects have a major part in increasing income discrimination as compared to a deficiency of expertise or human resources. The way by which technology might increase job expertise needs is discussed even between supporters of this position. PCs can boost the expertise needs within professions in a lot of ways. For instance, computerization within a company increases expertise needs even for professions that do not require functioning directly with a PC because computerization gives rise to organization-wide transformation in job descriptions as well as tasks. These skills are essential in a computerized place of work because working with a computer needs the handling of signs as well as information and makes it more realistic for companies to streamline work in ways that provide workers wider job responsibilities, additional independence, dependability, and decision-making power. 2. Weiss, M. (2008). ‘Skill-biased technological change: Is there hope for the unskilled?’ Economics Letters. Volume 100, Issue 3, pp. 439-441. Technology can as well increase the need for skill by changing the allocation of employees between jobs, either by invigorating the development of additional high- as well as medium-skilled occupations or by means of computerization and other laborsaving expertise that removes less-skilled jobs. “A large body of literature explores each of these possible causal pathways” (Weiss, 2008, p. 440). Early studies found that PC users earned salaries that were 14 to 19 percent higher in comparison to other related nonusers, a fact identified as the ‘computer earnings premium’. This premium was inferred as representing the significance of computer related expertise or human resources. Consideration then moved to potential substitutes. “Working with a computer increases demand for general cognitive skills, such as problem-solving and intellectual flexibility, apart from computer-specific knowledge” (Weiss, 2008, p. 441). 3. Moore, M. P. and Ranjan, P. (2005). ‘Globalisation vs Skill-Biased Technological Change: Implications for Unemployment and Wage Inequality.’ Volume 115, Issue 503, pp. 391-422. The real complexity levels of the latest theoretical as well as literacy skills appear comparatively simply immersed by the current personnel with little raise in prescribed educational requisites in most instances, and studies that concentrate directly on the forms of participative administration procedures said to be caused by technological advancement usually have no effect on earnings, indicating that the skill improvement is modest. “Automation may not eliminate massive numbers of jobs, but it may disproportionately eliminate certain types of less-skilled work, such as factory or data” (Moore & Ranjan, 2005, p. 409). Conclusion 1. Lee, C. C., Czaja, S. J., and Sharit, J. (2010). ‘Training Older Workers for Technology-Based Employment'. NIHPA Author Manuscripts. Volume 35, Issue 1, pp. 15-31. The development as well as importance of technology in the workplace has aroused great interest in its potential outcomes. Even though the majority of researchers consider that apprehensions of huge job displacement have small basis, many questions regarding wide labor market effects remain. “Results that seem to show a strong relationship among technology, skills, education, occupation, and wages often appear more fragile on closer scrutiny” (Lee et al, 2020, p. 28). A number of instinctive plans get only “unsatisfactory support in research studies, and there are numerous anomalies and contrary research results” ” (Lee et al, 2020, p. 30). The fact that income levels increases on the bottom of the distribution, discrimination restrained, and joblessness fell to its lowest level. 2. Greenfield, G. and Rohde, F. (2009). ‘Technology acceptance: Not all organisations or workers may be the same.’ International Journal of Accounting Information Systems. Volume 10, Issue 4, pp. 263-272. Many studies sustain the skill prejudiced technical modification idea; others represent differing results and get the confirmation for skill prejudiced technical modification weak and reliant on strong hypotheses. Much has been learned about “the diffusion of technological advancements and the pattern of growth in earnings inequality, but their possible interrelationship remain unclear and contested” (Greenfield & Rhode, 2009, p. 269). Technology learning can empower the potential workforce that “enhances future learning and interaction with technology, that is, the broad skills and competencies that are most desired by employers” (Greenfield & Rhode, 2009, p. 271). By means of practical experiences with technology, apprentices can incorporate and apply their knowledge, develop their ‘higher order thinking capabilities’, and increase their aptitude to work well with technological gadgets and systems. References Abowd, J. M. Haltiwanger, J. Lane, J. McKinney, K. L. and Sandusky, K. (2007). ‘Technology and the Demand for Skill: An Analysis of Within and Between Firm Differences.’ Economic Research. Volume 10, Issue 3, pp. 87-104. Carroll, W. R. and Wagar, T. H. (2010).’ Is there a relationship between information technology adoption and human resource management?’ Journal of Small Business and Enterprise Development. Volume 17, Issue 2, pp. 218-229. Chongvilaivan, A. Hur, J. and Riyanto, Y. E. (2009). ‘Outsourcing Types, Relative Wages, and Demand for Skilled Workers.’ Economic Inquiry’. Volume 47, Issue 1, pp. 18-33. Greenfield, G. and Rohde, F. (2009). ‘Technology acceptance: Not all organisations or workers may be the same.’ International Journal of Accounting Information Systems. Volume 10, Issue 4, pp. 263-272. Houck, C. (2011). ‘Multigenerational and virtual: How do we build a mentoring program for today's workforce?’ Performance Improvement. Volume 50, Issue 2, pp. 25-30. Lee, C. C. Czaja, S. J. and Sharit, J. (2010). ‘Training Older Workers for Technology-Based Employment'. NIHPA Author Manuscripts. Volume 35, no. 1, pp. 15-31. Malul, M. (2009). ‘Older workers’ employment in dynamic technology changes.’ Journal of Socio-Economics. Volume 38, Issue 5, pp. 809-813. McNamara, B. R. (2009). ‘The Skill Gap: Will the Future Workplace Become an Abyss.’ Techniques: Connecting Education and Careers. Volume 85, no. 9, pp. 24-27. Moore, M. P. and Ranjan, P. (2005). ‘Globalisation vs Skill-Biased Technological Change: Implications for Unemployment and Wage Inequality.’ Volume 115, Issue 503, pp. 391-422. Pick, J. B. and Azari, R. (2008). ‘Global digital divide: Influence of socioeconomic, governmental, and accessibility factors on information technology.’ Information Technology for Development. Volume 18, Issue 2, pp. 91-115. Simon, J. D. Kaiser, K. M. Beath, C. Goles, T. and Gallagher, K. (2007). ‘Information Technology Workforce Skills: Does Size Matter?’ Information Systems Management. Volume 24, Issue 4, pp. 345-359. Tambe, P. and Hitt, L. M. (2011). ‘The Productivity of Information Technology Investments: New Evidence from IT Labor Data.’ Information Systems Research. Volume 5, pp. 32-73. Threeton, M. D. (2006). ‘Ethical Use of Technology in the Workplace.’ Online Journal for Workforce Education and Development. Volume 2, Issue, 3, Article 2. Wajcman, J. (2008). ‘Life in the fast lane? Towards sociology of technology and time.’ The British Journal of Sociology. Volume 59, Issue 1, pp. 59-77. Weiss, M. (2008). ‘Skill-biased technological change: Is there hope for the unskilled?’ Economics Letters. Volume 100, Issue 3, pp. 439-441. Read More