Lately, as a result of technological innovation and the speed at which it occurs, a concern has arisen in the spheres of our society. Will robots replace workers? Will technological innovations be to blame for a jobless future? Or Will the economic system adapt to technological change and generate new and unimaginable jobs?
In the 19th century, a movement led by artisans was echoing in Great Britain, whose main protest and demand was that new machines (looms) destroyed their jobs. But as we can see, this concern is not new, but it dates back to past centuries. However, we can ask ourselves: Does current innovation create or destroy jobs?Since things will happen in the long term that we cannot even imagine, it is difficult to find an answer, just as we could not imagine what revolution the internet meant or directly. How can we foresee the impact that blockchain technology will have if we are not yet even aware of its capacity? However, if we analyze short-term economic developments, we can find some answers. And these answers are summarized in the word “it depends”. Currently, it can be seen as innovative ecosystems have significantly lower unemployment rates than non-innovative areas. Barcelona and Madrid, the most developed entrepreneurial ecosystems in terms of technological innovations in Spain, have an unemployment rate of 8.49% and 13.8% respectively, while the average for the Spanish state is 16.1%.According to the doctor in economics Xavier Ferrás, talent, technology and work are attracted to innovation zones.This is due to the existence of territorial centers, with adequate institutional frameworks and governments willing to co-invest in innovation that allow the best scientific, technological and entrepreneurial talent from non-innovative areas to migrate to innovative areas. Answering the question if does current innovation create or destroy jobs? The doctor concludes that In innovative areas, work is created, while in non-innovative areas, not only is talent not created, but also that talent migrates. There is a very high correlation between higher innovation rates and lower unemployment, which confirms this hypothesis.Finally, and answering the big question: Will robots replace workers? , it is not possible to know with certainty what will happen in the future. However, historically, the economy has adapted to innovation by changing the type of work, but never destroying it.
