Refraction

We have seen an exponential growth and mindblowing innovations in the technology sector in last few decades. It seems like we have future filled with astonishingly exciting new technologies. And along with these new technologies we will have a bunch of new opportunities. Future looks bright, isn't it? I have some concerns here. We have heard those jobs that did not exist a decade back such as vlogger (YouTuber), Social media manager, Uber-Driver,  App-Developer. etc. The technological advances brought us most of these new jobs. In this post, I want to talk about some of those jobs that we may see disappear due to the next leap in technology, which would be driven by artificial intelligence (AI). According to a study done at Oxford University, 45% of all current jobs will disappear in the next decade with some of them being completely automated or at least enhanced so that only a fraction of the workforce is required. Let's look at some of the jobs that will radicall...

In the past few years, the Indian economy has witnessed the rapid transformation. A different perspective of India has emerged as 'New India' with certain new features, perspective and a new outlook. For a very long time, India was believed to be a third world developing country. With consistent changes driving economy and growth, India has changed its status from third world country to 'emerging economy'. In recent years, India has shown a great potential for accelerating growth that offers good investment opportunities. India is the second largest potential market in the world after China. Its huge population is seen as a source of demand and not as a liability. Secondly, India is also getting recognised as a 'potential economy' and it is significant as it questions the supremacy of the first world countries. India has a larger say in global matters, sharing at global platforms and global recognition of 'New India'. In terms of education an...

Technology intervention in our workforce is inevitable. For past few years, we have witnessed an unprecedented growth in the manufacturing sector.  The way goods are manufactured, serviced and delivered are changing with the adoption of new technology, global reach, and faster communication. In many areas, a machine replacing human labour as well as it is taking on cognitive skills. Automation has long term implications. It is apparently threatening joblessness of semi and unskilled workforces. It is, therefore, necessary that automation should be sustainable and be able to create benefits for people. Automation is going to change the basic way of manufacturing, supply chain management system works. Robots will replace the labour intensive jobs, which would increase productivity. In reality, automation will provide an opportunity to create innovative and prolific jobs for human resources. Adaptability with technology is the key. Labor and machines are not two opposite sides com...

We are living in an era, which has a backbone of the internet.  We cannot deny the fact that the internet has revolutionised the way we communicate. Two decades ago, no one would have thought that we will be able to see a person across the globe and will be able to communicate with him one on one. Today, it is possible. With a tap of a finger, you can make a video call from your mobile device. We share digital photographs on social networks and emails have replaced paper. Indeed, technology has changed our lives and it will continue to adorn our lives. In the year 2008, new idea sparkled on the internet. It is now popularly known as bitcoin. Bitcoin is a crypto-currency working on concepts of the blockchain. It became more popular in online transactions and has the potential to revolutionalise the international economy. The security offered in blockchain makes it uncompromisingly reliable. Nowadays, blockchain is the most secure way of conducting online...

Every country in the world has economic development as an important objective of its national policies. Increasing aspirations of the middle class is pushing development to the centre national discourse. This is now witnessed in elections in every part of the world including India. Each country adopts an economic model suitable as per its ideology and strengths. But one common factor in each development strategy is the importance of the ethical dimension. Economic growth must be inclusive, sustainable and achieved through transparent policies. Otherwise, people can turn against such strategies and it may become a curse. In historical context, a major push to economic growth came from the industrial revolution. The availability of the capital from commerce, useful scientific innovations and government support led to an industrial revolution in Europe in eighteenth and nineteenth centuries. But this was accompanied by extreme exploitation workers by factory owners. The workers had to ...