Shri Varun Gandhi, a BJP MP, has stated that privatising banks and railroads will result in the layoff of 5 lakh people. Is it, however, privatisation alone or the rapid technological revolution that is occurring in several spheres of life,Â
which is largely responsible for unemployment by saving labour, time, and energy, increasing productivity, efficiency, and profits for entrepreneurs while also benefiting the general public? Bank employees went on strike in the 1990s as the banking industry began to embrace computerization.Â
However, as the benefits of ICT (Information and Communication Technologies) become more widely recognised, people are increasingly demanding cashless transactions via Online Banking, Net Banking, Mobile Banking, Electronic transfers, and QR code-based payment systems such as Gpay, Phone Pay, BHIM UPI, and others. Â
Parents may now use online banking to make foreign transfers for their children who are studying abroad, without the need for approvals and sanctions. Â
In terms of real-time digital payments, India is the world leader. Â
Paytm and Google Pay are the leaders in digital payments, thanks to UPI, which allows for QR code-based transactions.Â
The Covid epidemic had a huge impact on the expansion of digital payments. In the not-too-distant future, we will only be able to purchase with our smartphones and no cash. Digital payments promote transparency and accountability, as well as the speed with which money is sent, lowering transaction costs associated with waiting and delays, such as the week or fortnight it takes for checks to pass! Â
Medical electronics Â
Be in Medical electronics has emerged as a result of technical breakthroughs in engineering and medicine, which have integrated engineering disciplines with biomedical sciences and clinical practise. Â
This has also led to the creation of a specialty subject in Bachelors of Engineering called BE in Medical Electronics, which focuses on equipment used in medical operations such as imaging systems – magnetic resonance imaging (MRI), insulin injection automation, and so on. Certainly, technical advancements would have displaced some conventional vocations in the process, such as typing on typewriters,Â
which would have been completely supplanted by Desk Top Computers with Word Processing, or even the usage of Robots to type in response to voice commands! Â
Drip irrigation in agriculture saves both time and money. Â
Several studies have shown that using micro irrigation, such as drip irrigation, in agriculture may save up to 50% on water and labour. Farmers in the Kolar and Chikkaballapur districts utilise drip irrigation more than anybody else in the country since groundwater is rare on one side, and labour is scarce owing to the closeness of the Bengaluru city on the other, resulting in a larger use of drip irrigation. Â
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E marketing, M marketing Â
Aren’t we progressively adopting E-marketing and M-marketing platforms to make purchases? Aren’t we using Amazon and Flipkart to buy things, and aren’t our kids utilising Swiggy and Zomato to get food online? Is it true that the introduction of electronic and mobile marketing platforms hasn’t decreased transaction costs? Is the quality of service provided by these businesses not being scrutinised because of client reviews? Has E marketing risen as a result of Covid? Â
 These are critical points that must be addressed before determining that privatisation is to blame for employment losses. Â
Online teaching Â
Classical music instruction online, in particular, benefits a large number of students from all over the world who want to learn classical music through online sessions, as well as music teachers. Other topics, when skilled professors are available, can also take use of the advantages and teach the interested pupils. The quantity of views and other comments that are publicly available throughout the process clearly reflects the survival of the fittest. Â
IRCTC reservations Â
Is there anyone who hasn’t benefited from the IRCTC reservation platform? Even urgent boarders may now use the online service, which has resulted in a win-win situation that has raised income for trains while also providing a slew of perks for passengers. Â
Demand for ophthalmologists and orthopaedic surgeons is increasing. Â
E books and online news are affecting conventional reading habits such as purchasing text books and visiting libraries. Mobile phones may also be used to read e-books. Reading on a computer puts a burden on the eyes as well as the spine, since it causes orthopaedic disorders in posture. In reality, the need for ophthalmologists and orthopaedic surgeons is surging. Issues with eyes and bones have revealed the limits of E and M. Â
Free international video calls Â
Even international video conversations are free via Whatsapp calls, and this capability will almost probably result in employment losses in the communications industry. Â
As a result of Artificial Intelligence, unemployment will continue to rise. Â
Artificial Intelligence is posing a threat to numerous industries, as it will result in employment losses. Voice recording is currently available in Google as a result of AI. Indeed, with the introduction of Alexa, Siri, and Cortana, voice-enabled assistants and chatbots have grown in popularity, despite breakthroughs in deep learning, which is still failing to comprehend the meaning of words and phrases that need more than arithmetic and statistics. As a result, conventional occupations are being automatically curtailed, not just because of privatisation, but also because of technology advancements. Â
Is employment loss due to privatisation or technological advancement? Â
Thus, it is critical to examine the sources of unemployment, including R&D owing to science and technology on the one hand, and privatisation on the other, which increases capital investment. Obviously, one cannot remain as a frog in a well, continuing using outdated technologies, because many old occupations, such as typists and stenographers, have perished as a result of new technologies! Â
Edited By- Kiran MaharanaÂ
Published By- Pawan RajputÂ
