The Disruptive Substitution of Human Capital by IT

✅ Masters Thesis from the year 2️⃣0️⃣1️⃣7️⃣ in the subject Business 👨‍💼 economics - Economic Policy, grade: 2️⃣, , language: English 🏴󠁧󠁢󠁥󠁮󠁧󠁿, abstract: In the course of the last century the economy experienced a gradual shift from the primary and ➕ secondary to the tertiary sector. With the emergence of disruptive IT the service sectors traditional barriers 🚧 are experiencing a fundamental erosion. In this context disruptive IT stands ⬆️👤 for big 📐🐘 data, predictive analytics, machine learning and ➕ artificial intelligence. The overall hypothesis this thesis seeks to verify is disruptive IT will substitute human capital to an extent that will irreversibly materialize in an unprecedented technological rate 🐀 of unemployment.The investigation commences with an analysis of unemployment statistics and ➕ a trend 📈 analysis over the last decades with the objective to reveal what could be perceived as technological hike 🚶 of the natural rate 🐀 of unemployment. It will be shown that historical data yet does not ❌️ provide sufficient evidence 🧾 to become scientifically convinced about the hypothesis laid out before . This does not ❌️ come ⤵️ with surprise given ⬅️🎁 the disruptive nature of recent IT advances which have yet only moderately started to unfold their full 🌝 potential. Hence, disruption makes 🛠️ past-oriented statistics a second 🥈 best guess of what to expect in future but suggests a rather simulation-based approach validated by expert opinion.Therefore, we 👥⬅️ take a look 👀 at the contemporary study and ➕ analytical mo...

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