Technological Unemployment in Terms of Global Labor Market Imbalances: A Bibliometric Analysis
DOI:
https://doi.org/10.34190/ecmlg.20.1.2916Keywords:
Technological Unemployment,, Labor Market Imbalances,, Industry 4.0,, Performance Analysis,, Bibliometric Analysis.Abstract
The current society, known as the supersmart society or Society 5.0, emerged in response to the Fourth Industrial Revolution. also known as Industry 4.0 (I4.0), which arose with the development of different technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML), and Big Data Analytics (BDA), among others. Based on the report “Future of Jobs Report 2023” the most affectin g macro trend in driving business transformation is the increased adoption of new and frontier technologies with an 86.2% rate. I4.0 significantly changed production processes and manufacturing systems, transforming firms into smart factories. One of the consequences of the I4.0 revolution is technological unemployment (TU). This paper aims to conduct a comprehensive evaluation of the literature on Industry 4.0 (I4.0) and Technological Unemployment (TU) within the 2015-2024 timeframe, with a particular focus on their impact on labor market imbalances (LMI). Through a bibliometric analysis, the study will assess performance metrics, including the publication and citation performance of authors, institutions, countries, and journals. Additionally, the research will visualize and critically examine bibliometric citation outcomes, including cited references. To achieve this, we adopted a quantitative approach and employed a confirmatory-explicative research method to elucidate Technological Unemployment (TU) within the context of Industry 4.0 (I4.0) transformations and confirm its implications on Labor Market Imbalances (LMI). Bibliometric analysis was used to discern data patterns, trends, and relationships within the literature. Our findings revealed several significant trends, notably job polarization, income inequality, and TU. We determined that the effects of I4.0 on employment are not universally negative; in some cases, technological investments enhance employment rates by creating new professions and job opportunities. Our analysis also indicated that occupations requiring human judgment, decision-making, creativity, and innovation exhibit resilience to technological advancements.