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Digital capital -such as robotics, vending machines, pilotless planes, ATMs, increased automation, etc- is having the effect of reducing the number of personnel required to do certain jobs. Digital capital helps reduce costs, increase efficiency, speed, and accuracy and a host of other things. On the flip side, this has the effect of increasing unemployment. In your opinion, how can this issue be addressed?
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First, I do not agree with the term "digital capital" unless you mean true and real "digital" stuff made of digits (ones and zeros) . When you refer to robotics and automation, you are refering to electromechanical machines, sensors, controi devices, instrumentation, processors, PLC's , , .... etc ... etc ..
This is NOT digital capital !!
The impact of automation on employment has been well known since the industrial revolution, mechanization, electricity, automation, ... etc .
The ideal solution for this situation was to move "people" (human assets) away from tiring, boring, repetitive, and risky tasks into things that have more value, more interesting, more creative and more innovative ...
