Effects of the Fourth Industrial Revolution on employment

Summary

Each of the industrial revolutions has resulted in the observation of changes in many sectors. The Fourth Industrial Revolution process will lead to the transformation of employment opportunities and the labor market, as well as changes in economic and social life. There are two opposing hypotheses about this. According to the first hypothesis, the active participation of robots in the production process and the service sector will lead to technological unemployment and many professions will disappear from the scene of history in the Fourth Industrial Revolution. The second hypothesis is that technological progress will lead to the creation of new professions in parallel with disappearing professions, the form of labor will change, the qualification level of the workforce will increase, and the profitability and welfare of people will increase as robots replace people. In this study, the history of the industrial revolutions was reviewed, the effects of the Fourth Industrial Revolution were analyzed on employment opportunities and suggestions were made regarding the precautions to be taken in Azerbaijan.