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How ai technology impact for the job market

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How ai technology impact for the job market

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References - Brown, R. (2019) What the fifth industrial revolution is and why it matters, The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com. Available at: https://europeansting.com/2019/05/16/what-the-fifth-industrial-revolution-is-and-why-it-matters/ (Accessed: 02 November 2023).

Huang, M.-H. (2018) Journal of Service Research Artificial Intelligence in service the ... Available at: https://journals.sagepub.com/doi/epdf/10.1177/1094670517752459 (Accessed: 02 November 2023).

Mariani, M.M. (2022) Full article: Artificial Intelligence in Service Industries: Customers ... Available at: https://www.tandfonline.com/doi/full/10.1080/00207543.2022.2160027 (Accessed: 03 November 2023).

Review: The article "AI Meets Labor Market: Exploring the Link Between Automation and Skills" authored by Emilio Colombo, Fabio Mercorio, and Mario Mezzanzanica and published in "Information Economics and Policy" explores the profound impact of AI technology on the job market. Considering that this study was published in the respected academic journal Information Economics and Policy, it is a very reliable source. The presence of multiple authors in the field of economics and technology adds to its credibility, as it reflects a multi-disciplinary approach to the subject matter.

Considering how quickly technology and artificial intelligence are changing the labour market, the article's relevance is significant in the current era (Acemoglu, 2017). The research explores the complex relationship between automation and the skills needed in the workforce, providing insight into how AI technology is changing the nature of jobs, opening up new opportunities, and maybe replacing workers in particular industries (Benedikt Frey, 2016).

In terms of accuracy, the article provides a comprehensive analysis of AI's impact on the labor market, supported by empirical evidence and statistical data (Mezzanzanica A, 2014). The authors use various models and methodologies to substantiate their findings, making it a reliable resource for those interested in understanding the complex relationship between AI and employment.

The purpose of this article is to contribute to the ongoing discourse about the consequences of AI in the labor market. It aims to provide policymakers, academics, and business leaders with valuable insights to make informed decisions regarding workforce planning and policy development (Bessen, 2018).

In summary, "AI Meets Labor Market" is a highly credible, relevant, and accurate source that serves the purpose of informing readers about the intricate interplay between AI technology and the job market. It is a valuable resource for those seeking a deeper understanding of how AI is shaping the future of work.

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Abstract

This paper develops a set of innovative tools for labor market intelligence by applying machine learning techniques to web vacancies on the Italian labor market. Our approach allows to calculate, for each occupation, the different types of skills required by the market alongside a set of relevant variables such as region, sector, education and level of experience. We construct a taxonomy for skills and map it into the recently developed ESCO classification system. We subsequently develop measures of the relevance of soft and hard skills and we analyze their detailed composition. We apply the dataset constructed to the debate on computerization of work. We show that soft and digital skills are related to the probability of automation of a given occupation and we shed some light on the complementarity/substitutability of hard and soft skills.

Introduction

It is indisputable that in the past few decades significant forces and factors have dramatically changed the nature and characteristics of the labor market in both advanced and developing countries. Technical progress, globalization and the re-organization of the production process with outsourcing and offshoring have radically altered the demand for certain skills. ¹ In addition, population aging in advanced economies intensifies the need for continued training, and is likely to affect the structural demand for certain competences, in particular those related to the health and care of the elderly. ² The overall impact of these factors on the labor market is multifaceted. On the one hand several jobs are disappearing while new jobs are emerging; of these some are simply a variant of existing jobs, others are genuinely new jobs that were nonexistent until few years ago. On the other hand the quantity and quality of the demand for skills and qualifications associated to the new labor market has changed substantially. New skills are needed not only to perform new jobs but also the skill requirements of existing jobs have changed considerably. Which occupations will grow in the future and where? What skills will be demanded the most in the next years? Those are the questions that are at the forefront of the policy debate both among economists and policymakers. In order to address these questions specific data need to be collected. This calls for new tools that integrate and complement existing labor market instruments for grasping the complexity and the variability of new labor market trends.

In this paper we develop a set of innovative tools for labor market intelligence by applying machine learning techniques to web vacancies on the Italian labor market. Those tools are at the forefront of research in computer science and are able to address a number of technical and methodological challenges dealing with large volumes of unstructured data, mainly in textual form. In particular they are specifically designed for analyzing firms' skill needs. In this way we can calculate the skills required by the market, alongside a set of relevant variables such as region, sector, education and level of experience.

Our approach allows to shed light on a number of issues. First we can calculate, for each occupation, the different types of skills required and their frequency. Furthermore we are able to classify those skills into a standard classification system and assess the relevance of digital skills and of soft-hard skills constructing measures of specific "skill degree". We then apply the dataset constructed to the debate on computerization of work. We show that soft and digital skills are related to the probability of automation of a given occupation and we shed some light on the complementarity/substitutability of hard and soft skills.

The remainder of the paper is structured as follows. Section 2 analyses the advantages and limits of using web vacancies with respect to other more traditional methods. Section 3 describes the tools and the methodology used, Section 4 presents the results. Finally Section 5 concludes.

Section snippets

Skills for the labor market of the future: new tools needed?

As stressed in the introduction, mega-trends such as globalization, technical progress and population aging are having a profound impact on the labor market. Albeit the overall effect is extremely complex we can roughly identify two main dimensions of it. One that we can call the extensive margin pertains to the creation of new jobs and the destruction of existing ones. This is probably the most debated issue at the center of the policy debate. Until few years ago the major culprit was

Data

The source of the data is Wollybi, ⁷ a project that collects online vacancies in Italy from job-portals since February 2013. For internal data consistency we concentrate on 2016 and 2017 containing approximately 2 millions vacancies from which the tools described in the next section allow to extract the relevant information such as location, sector, education, skills etc. The sources are the major portals that advertise vacancies and include newspaper websites, job boards and

Hard, soft skills and occupations

The methodology described in Section 3 allows to extract skills from vacancies. The use of ESCO taxonomy allows to group skills into categories that allow a better representation and analysis. The first major distinction is between hard and soft skills. Hard skills are typically job-specific skills and competences that are needed to perform a specific job or task (examples are knowledge of specific software or instruments, specific manual abilities etc.) Soft skills, on the other hand, are more

Conclusions

AI and machine learning are not only changing the labor market but are also giving us new tools for analyzing the workforce. In this paper we apply machine learning techniques to web vacancies on the Italian labor market developing a new set of tools for labor market intelligence.

These tools are specifically designed for analyzing firms' skill needs. Our approach allows to shed light on a number of issues. We can calculate, for each occupation, the different types of skills required. We are

Acknowledgement

We thank participants to the workshop in Milan and to the conference "The Economics and Policy Implications of Artificial Intelligence" organized by the Technology Policy Institute. The usual disclaimer applies. We thank Tabulaex for granting us access to Wollybi data.

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AI meets labor market: Exploring the link between automation and skills

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This paper develops a set of innovative tools for labor market intelligence by applying machine learning techniques to web vacancies on the Italian la...

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What will be the 5th Industrial Revolution

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What will be the 5th Industrial Revolution

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Author links open overlay panelMario Mezzanzanica a b et al. (2014) A model-based evaluation of data quality activities in KDD, Information Processing & Management. Available at: https://www.sciencedirect.com/science/article/abs/pii/S0306457314000673 (Accessed: 02 November 2023).

Review: The article titled "The Fifth Industrial Revolution: How Harmonious Human–Machine Collaboration is Triggering a Retail and Service [R]evolution" authored by Stephanie M. Noble, Martin Mende, Dhruv Grewal, and A. Parasuraman and published in the Journal of Retailing offers an insightful perspective on the emerging concept of the Fifth Industrial Revolution (5IR). This article explores the transformation in retail and service industries, underlining the significant role played by human-machine collaboration.

The credibility of this article is well-established, as it is published in a reputable journal, the Journal of Retailing. The authors, including Stephanie M. Noble and Dhruv Grewal, are respected scholars in the field of retail and service management, further enhancing the credibility of the work (Beck & Lam, 2020).

In the age of rapid technological advancements, the topic of the 5IR is highly relevant. It delves into the evolving landscape of retail and service sectors, which are pivotal components of the global economy (Huang, 2018). The article addresses the pressing issue of how human-machine collaboration is reshaping these industries, making it highly pertinent in the context of the Fourth Industrial Revolution.

The article appears to be well-researched, providing insights backed by empirical evidence and academic rigor (Brown, 2019). It explores the nuances of human-machine collaboration and its impact on retail and service industries, making it a reliable source of information.

The article aims to inform and educate readers about the evolving nature of the retail and service sectors in the context of the 5IR. It provides a deeper understanding of how businesses are adapting to new technologies and the implications for both consumers and industry professionals. The purpose of the article is to foster knowledge and discussion regarding the future of these industries (Mariani, 2022).

In conclusion, this article on the Fifth Industrial Revolution is a valuable resource for those interested in the intersection of technology and retail/service industries. It combines credibility, relevance, accuracy, and a clear purpose to offer a comprehensive view of this evolving landscape.

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Highlights

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This manuscript draws attention to the dawn of the Fifth Industrial Revolution (5IR) and highlights its potential for addressing a host of issues within retail and service domains.

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The authors outline a 2 × 2 framework that categorizes retailers and service providers by their embrace of human-machine collaborations, a key aspect of the 5IR.

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The authors outline the 5IR's expanded definition of stakeholders (companies, employees, customers, and society); the merging of digital, physical, and biological technologies in the 5IR promises enhanced well-being for societal actors across the board.

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This article establishes a roadmap for how a retail/service (r)evolution is likely to progress and offers a set of key research questions that emerge as a result.

Abstract

This manuscript draws attention to the dawn of the Fifth Industrial Revolution (5IR) and highlights its potential for addressing a host of issues within retail and service domains. With a retailing and service perspective, the authors outline the meaning of the 5IR, according to a 2 × 2 framework that categorizes retailers and service providers by their embrace of human-machine collaborations. They also propose an expanded definition of stakeholders in the 5IR (companies, employees, customers, and society). Merging digital, physical, and biological technologies promises enhanced well-being for societal actors across the board. By outlining these likely implications of the 5IR for retailing and services, this article establishes a roadmap for how the (r)evolution is likely to progress and offers a set of key research questions that emerge as a result.

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The Fifth Industrial Revolution: How Harmonious Human-Machine Collaboration is Triggering a Retail and Service [R]evolution

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This manuscript draws attention to the dawn of the Fifth Industrial Revolution (5IR) and highlights its potential for addressing a host of issues with...

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Future of knowledge economy in work  environment

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Future of knowledge economy in work  environment

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Author links open overlay panelCarl Benedikt Frey a et al. (2016) The future of employment: How susceptible are jobs to computerisation?, Technological Forecasting and Social Change. Available at: https://www.sciencedirect.com/science/article/abs/pii/S0040162516302244  (Accessed: 02 November 2023).

Benedikt, C. (2013) The Future of Employment - Oxford Martin School. Available at: https://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf (Accessed: 03 November 2023).

DELLOT, B. (2019) The four futures of work: Coping with uncertainty in an age of Radical Technologies, The RSA. Available at: https://www.thersa.org/reports/the-four-futures-of-work-coping-with-uncertainty-in-an-age-of-radical-technologies (Accessed: 03 November 2023).

Stanley, I. (2019) Imagination unleashed: Democratising the knowledge economy, nesta. Available at: https://www.nesta.org.uk/report/imagination-unleashed/ (Accessed: 03 November 2023).

Turner, N. (2019) The future(s) of work and the knowledge economy, stratforma. Available at: https://www.stratforma.com/post/the-future-s-of-work-and-the-knowledge-economy (Accessed: 03 November 2023).

Review: The article discusses two insightful reports from Nesta and the RSA/ARUP, both published in March 2019, which provide a comprehensive overview of the future of work in the knowledge economy. These reports address critical issues surrounding technology, productivity, inequality, and political disenchantment. They emphasize the need to democratize the knowledge economy to avoid a stark division between technological elites and the majority of the population.

Nesta's report focuses on practical steps to widen access to capital, transform ownership models, and reform education and social policies to prepare for the future. The RSA/ARUP report, on the other hand, explores four plausible future scenarios, from a tech-driven economy to one where empathy and responsible stewardship guide technological development (Turner, 2019).

The credibility of these reports is high, given that Nesta and RSA/ARUP are well-respected organizations in the field of innovation and research (Benedikt, 2013). Their recommendations, while in some cases revolutionary, are well-founded and aimed at addressing the challenges of the rapidly evolving knowledge economy.

The relevance of these reports is unquestionable, as they tackle issues that have become even more pertinent in the post-pandemic era. With technology's ever-increasing influence on work, the insights and recommendations presented in the reports are crucial for policymakers and business leaders (Stanley, 2019).

The accuracy of the reports is supported by rigorous research and a scenario-based approach, acknowledging the inherent uncertainty in predicting the future of work (Dellot, 2019). The purpose of these reports is to guide society and policymakers in adapting to the changing work environment, promoting ethical technology, lifelong learning, and strong worker representation.

In conclusion, these reports offer valuable insights into the future of the knowledge economy in the work environment. Their credibility, relevance, accuracy, and purpose make them essential reads for anyone concerned about the evolving landscape of work and technology.

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Nick Turner

Making sense of the uncertainties that face us all...

Two insightful reports, published in March 2019, from the RSA/ARUP and Nesta

Much has of course already been written on this topic. From scaremongering academic reports , estimating that 47% of U.S. jobs are at risk of automation, to pretty much every major consulting house, expressing their own point of view and predictions.

Firstly, the innovation foundation, Nesta, published "Democratising the knowledge economy" . Nesta has an explicit political and social agenda; how to avoid a world dominated by technological elites, exacerbating the gap between "the have and have-nots". They are increasingly alarmed by a rapidly expanding majority, cut-off from the growth and benefits of a burgeoning knowledge economy. Key concerns include:

Political disenchantment: a natural consequence of the points above, the impact of which has already played out in recent plebiscites

In response, Nesta's report lays out practical steps that society and policy makers can take to "widen access to capital and productive opportunity, transforming models of ownership, addressing new concentrations of power, and democratising the direction of innovation" .

1. Dramatically increasing the skills and capacity of SME's to enable their participation in the knowledge economy

2. Reform government and democracy to encourage new levels of participation and effectiveness

Making sense of the uncertainties that face us all...

Two insightful reports, published in March 2019, from the RSA/ARUP and Nesta

Much has of course already been written on this topic. From scaremongering academic reports , estimating that 47% of U.S. jobs are at risk of automation, to pretty much every major consulting house, expressing their own point of view and predictions.

Firstly, the innovation foundation, Nesta, published "Democratising the knowledge economy" . Nesta has an explicit political and social agenda; how to avoid a world dominated by technological elites, exacerbating the gap between "the have and have-nots". They are increasingly alarmed by a rapidly expanding majority, cut-off from the growth and benefits of a burgeoning knowledge economy. Key concerns include:

In response, Nesta's report lays out practical steps that society and policy makers can take to "widen access to capital and productive opportunity, transforming models of ownership, addressing new concentrations of power, and democratising the direction of innovation" .

Dramatically increasing the skills and capacity of SME's to enable their participation in the knowledge economy

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The future(s) of work and the knowledge economy

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Making sense of the uncertainties that face us all...Two insightful reports, published in March 2019, from the RSA/ARUP and NestaYou may have missed it, due to the all-consuming political turmoil that has engulfed the "old world", but March was an interesting month for reports focusing on the impact of technology and the broader knowledge economy on the future of work.Much has of course already been written on this topic.

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The effects of technological development on work environment

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The effects of technological development on work environment

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Admin (2023) Technology in the workplace: The importance and benefits, Buchanan Technologies. Available at: https://www.buchanan.com/benefits-technology-workplace/  (Accessed: 03 November 2023).

Battisti, M., Dustmann, C. and Schonberg, U. (2023) The effect of new technologies on workers, jobs, and Skills, CEPR. Available at: https://cepr.org/voxeu/columns/effect-new-technologies-workers-jobs-and-skills (Accessed: 03 November 2023).

Holtzer, D. (2023) The impact of technology in the Workplace, Eptura. Available at: https://eptura.com/discover-more/blog/technology-in-workplace/ (Accessed: 03 November 2023).

Review: The article discusses the profound impact of technological advancements on the modern work environment. It explores how workplace technology has evolved rapidly, transforming the way we work, communicate, and collaborate. The content is credible and relevant, as it highlights the critical role of technology in today's workplaces (Holtzer, 2023).

The article presents a well-informed perspective on the subject of workplace technology. It provides specific examples of how technology has influenced work processes, which lends credibility to its claims. The mention of specific technologies like messaging apps, IWMS, and the business cloud adds depth to the discussion.

In an era where technology is deeply integrated into daily work routines, this article is highly relevant. It effectively highlights the significance of modern workplace technologies, such as instant messaging, cloud storage, and workspace management systems, in improving productivity and communication (Admin, 2023).

The article accurately portrays the evolution of work in response to technological advancements. It discusses how technology has led to improved communication, faster workflows, and greater accessibility to digital assets. The claims made about the positive effects of technology on productivity are supported by real-world examples.

The article's purpose is to inform readers about the substantial impact of technology on the workplace. It underscores how technology has enabled more efficient communication, faster task execution, and greater flexibility in work habits (Battisti et al., 2023). The overall purpose is to emphasize the necessity of adopting and adapting to these technological changes in the workplace.

In conclusion, the article effectively addresses the effects of technological development on the work environment. It is a credible and relevant source of information, accurately portraying the transformative role of technology in modern workplaces. Its purpose is to underline the importance of technology for enhancing productivity and efficiency in the contemporary work landscape, and it achieves this purpose convincingly.

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Workplace technology is on an exponential curve. It wasn't long ago we used fax machines and interoffice mail to work - now, even email seems out-of-date. Thesubstantial impact of technology in the workplace is , and it's changing everything from how we work to what tools we use to do our jobs.

The breadth of workplace technologies available today takes two forms: workplace-facing and workplace-supporting. Technologies like messaging apps and room booking software are workplace-facing because they're the tools employees use to do work. Occupancy sensors and Integrated Workplace Management Systems (IWMS) represent workplace-supporting tech because they govern the workplace construct, both physical and digital. Together, they represent the technologically powered environment that is the modern workplace.

Why do we need all this tech?

A salesperson or accountant might have the same job description today that they did decades ago, but what that work entails is so much more. The sophisticated evolution of work comes on the heels of workplace technology growth.

Improved interpersonal communication

How has modern technology changed the workplace? The simplest example to look at is interpersonal communication. Over time we've sped up the rate at which we communicate and the scope of that communication. This is evident even as recently as the shift from email to messaging apps.
Jim needs to ask Sally a question about a project. He could send an email since Sally is off-site today - or he can instant message her through Slack. Through Slack, she gets the notification immediately and can reply in seconds. Jim's question sits in the #project channel instead of buried in an inbox, and there's a historical record of their conversation instead of a growing email chain. Jim gets his answer fast, and the two stay on the same page.
Messaging apps integrate with various other cloud-based apps, which always puts communication front and center. Employees can leave notes in a collaborative file or send a thumbs-up emoji to sign off on a memo. Thanks to modern interpersonal communication tools, employees communicate clearly and more often, with better results.

Speedier workflows

Quicker, better communication has spilled over into other areas of workplace transformation. One of the most notable positive effects of technology in the workplace is quicker workflows. It's not only communication technology behind this agility - it also involves workplace planning and coordination software.

IWMS and Computer-Aided Facilities Management (CAFM) platforms quicken workplace management. It no longer takes days or weeks to repurpose a workspace or change the dynamic of an office. Facility managers can adapt the workplace in minutes to shave hours or days off project timelines and tasks. Moreover, there are fewer barriers and overlaps between employees.
Bob and John don't need to wait for Michelle and Patricia to finish using a meeting space - they can find (or make) an alternative space in seconds. Steve can look at his calendar for the day, pop online, and reserve a suitable workspace.
Worktech simplifies the complexities of an agile environment so that employees can do more faster. Work gets done quicker and more efficiently.

Broad asset accessibility

The business cloud is arguably the most influential workplace technology of the last two decades. Think about what the cloud offers; broad access to any digital assets, anytime, anywhere. This level of accessibility is so ingrained in what we do we often take it for granted.
Mike saves his PowerPoint presentation at his desk on the fourth floor, then pulls it up from the cloud for his meeting on the ninth floor a few minutes later. Then, Lily accesses the entire folder of digital project assets from her home office to make last-minute adjustments before the big rollout.
As much as the business cloud has changed the traditional workplace, it's also the biggest catalyst for antiquating it. This level of accessibility allows people to work from anywhere - which is extremely common today. In fact, this tech is still growing more powerful today through innovations in edge computing and decentralized server networks.

More productive environments

Finally, we need to ask, how does technology affect productivity? If it's not evident already, technology has been the most significant stimulus for improving employee productivity and efficiency. Try to do your job without a computer or email.

Without messaging apps or cloud storage. Without the ability to reserve a workspace or contribute to a shared document. It's likely impossible to work without technology in today's climate. Even if you could manage it, you'd be light years behind.

Technology touches every aspect of work - how, where, and even when we accomplish it. The result of ever-increasing advancements in technological tools is evident in everything from how we communicate to the scope of the work we do daily.

Above all, today's profound flexibility in work habits shows the importance of technology. Thanks to workplace technologies, we're ever-moving, constantly communicating, and consistently accomplishing, no matter where or what we're doing.
Learn how Eptura's software can help your business thrive. Check out our plans.

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The impact of technology in the workplace

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The impact of technology in the workplace is substantial, and it's changing everything from how we work to what tools we use to do our jobs.