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Exponential Technology, Industry 4.0 and Future of Jobs in India

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  • R. A. Mashelkar

Abstract

Advance in technology leads to economic growth, and in turn to creation of new jobs, while making some old jobs obsolete. However, the rise of exponential technologies such as mobile internet, internet of things, big data analytics, artificial intelligence, etc. is disrupting this cycle dramatically, affecting jobs that used brawn as well as brain. This article analyses the impact of this shift in the Indian context and suggests several policy measures for government, industry and also institutions to prepare for the future of jobs in India, so that we do not face the grim prospect of jobless Indian growth. JEL: O00, 038, E24.

Suggested Citation

  • R. A. Mashelkar, 2018. "Exponential Technology, Industry 4.0 and Future of Jobs in India," Review of Market Integration, India Development Foundation, vol. 10(2), pages 138-157, August.
    • Handle: RePEc:sae:revmar:v:10:y:2018:i:2:p:138-157
    DOI: 10.1177/0974929218774408
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    References listed on IDEAS

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    2. David Silver & Julian Schrittwieser & Karen Simonyan & Ioannis Antonoglou & Aja Huang & Arthur Guez & Thomas Hubert & Lucas Baker & Matthew Lai & Adrian Bolton & Yutian Chen & Timothy Lillicrap & Fan , 2017. "Mastering the game of Go without human knowledge," Nature, Nature, vol. 550(7676), pages 354-359, October.
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    More about this item

    Keywords

    Industry 4.0; exponential technology; jobless growth; innovation;
    All these keywords.

    JEL classification:

    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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