Digital automation will divide job market: Suresh Prabhu

BENGALURU: Railway Minister Suresh Prabhu today said digital automation will give rise to a job market increasingly segregated into “low-skill and low-pay” and “high-skill and high-pay” segments, which in turn could lead to an increase in social tension.

“Digital automation could exacerbate the gap between returns to capital and returns to labour, but it will be talent, more than capital, which will represent the critical factor of production,” he said in his written speech copy, issued to media at the National Quality Summit 2016 here.

“This will give rise to a job market increasingly segregated into ‘low-skill and low-pay’ and ‘high-skill and high-pay’ segments, which in turn could lead to an increase in social tensions,” he added. Prabhu, who also delivered his address to the gathering via video conferencing from New Delhi, said, “Ultimately, the ability of government systems and public authorities to adapt will determine their survival.” read more at : http://economictimes.indiatimes.com/news/politics-and-nation/digital-automation-will-divide-job-market-suresh-prabhu/articleshow/55585578.cms

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