[Journal:] IZA World of Labor [ISSN:] 2054-9571 [Year:] 2017 [Issue:] 344
The information technology revolution has had dramatic effects on jobs and the labor market. Many routine and manual tasks have been automated, replacing workers. By contrast, new technologies complement non-routine, cognitive, and social tasks, making work in such tasks more productive. These effects have polarized labor markets: While low-skill jobs have stagnated, there are fewer and lower paid jobs for middle-skill workers, and higher pay for high-skill workers, increasing wage inequality. Advances in artificial intelligence may be accelerating computers’ ability to perform cognitive tasks, heightening concerns about automation of even high-skill jobs.