xiii.3. Conclusion
Many experts have described the rise of automation as one of the most important economic and social developments in history. The World Economic Forum (WEF) has characterized it as the fulcrum of a 4th Industrial Revolution. Moreover, the economist Andrew McAfee said, “Digital technologies are doing for human brainpower what the steam engine and related technologies did for human muscle power during the Industrial Revolution. They’re allowing us to overcome many limitations rapidly and to open up new frontiers with unprecedented speed. It’s a very big deal. But how exactly it will play out is uncertain.”
It may cause unemployment, unease in the mindset of masses, and even social conflict at many conflicts at many reasons. In the short run, it is very difficult to predict who will get the most of the benefits however better policy guidelines, better regulations, and social security measures will essentially bring overall goodness to the society.