Ontario is the perfect place to find out how technologies impact business, workers, and economic growth. The north is uniquely susceptible to the changes and challenges brought about by technological acceleration.
The rapid pace of technological change has left northern communities in Ontario economically vulnerable and less competitive than their southern neighbours. Employers are facing new pressures to keep up with the speed of technology, while workers are increasingly having to compete with off-shore labour markets where wages and costs are lower.
This post looks at some examples of how the north has been affected by economic forces and how it is becoming more vulnerable because of technological acceleration.
Businesses:
Unsustainable business practices in the North are caused by technological acceleration. The north is becoming less competitive than its southern neighbours because the speed of technology is outpacing many of the traditional business practices in northern Ontario. For instance, some businesses with low-technology operations are finding it increasingly difficult to compete with global companies that are using the latest technology to deliver products and services at a lower cost. Overall, these are businesses that are adversely affected by changes to their traditional business practices as they become more insular to technology, not adapting to these changes at a high enough pace.
Workers:
Since the beginning of the industrial revolution, workers have been an essential part of any economy, and more recently, with the growth of information technology, the workforce has become even more important. The decline in northern Ontario's economic competitiveness is primarily caused by technological acceleration. This increase in technology has placed a strain on the traditional skills of workers and the types of work that can be performed within the province.
Technology acceleration has had an impact on the North's economy in a number of ways that are impacting jobs, wages, and economic growth.
Technological change is causing workers problems because it does not provide adequate training for the skills required in their line of work. Aside from the physical demands of their job, technology also has a negative effect on those who have to learn new skills. With technology accelerating at the same rate as other jobs, workers are being left behind and are at risk of losing their jobs to other areas where they can get more training on the new technologies.
The north is facing a dilemma that was never before an issue because it was impossible to have access to new technologies on such a large scale so quickly. This can be seen in Ontario, where many communities have very little employment. When there are fewer jobs, it is difficult to provide workers with the best education and training. It is important to plan for a future workforce that is global because the north struggles to attract top talent.
In the past, any worker who was capable of doing a job was able to get that job because there were enough jobs.
The economic impact of increased automation goes far beyond manufacturing. Any job that can be simplified through automation will result in a loss of jobs in the future.
The north is not just competing with other regions of Ontario, but also with countries like India and China where wages are much lower than Canadian wages. Many jobs are disappearing as soon as they are created because technological advances make them obsolete. For example, technology is replacing telemarketers and many other administrative positions.
The rapid speed of technological development has left northern communities in Ontario economically vulnerable and less competitive than their southern neighbours. Many communities have lower-than-average employment rates, while low-skilled workers have a harder time finding work.
As technology becomes more advanced, the pace at which it is being adopted also increases. Thus, there are significant consequences for workers if they are not ready to embrace new technological advancements. While there is a wide availability of technology, employers will only consider the best candidates.
It is important to have a well-educated workforce with job skills that are relevant to today's workplace since the nature of jobs is changing. Since there are fewer jobs, employers just look for the best-qualified individuals. Workers should continue to work on acquiring the education they need while they still can in order to get started as soon as possible.
Advanced technologies are replacing many of our current jobs and if workers do not have the right training and education, they will be unable to adapt. The change in the workforce is expected to impact people differently, depending on what type of job they have.
The current situation highlights a trend that was seen in the past but was never fully realized. By having a blended economy with a mix of traditional manufacturing with emerging businesses based on technology, Ontario could enjoy an advantage over other regions where businesses are largely based on old-fashioned methods.
Employers need to recognize that they are competing in a global market. As technology changes and advances, local practices and attitudes must change as well. Businesses will have to be more innovative and produce products that are more appealing than the competition in other parts of the globe. In the future, industries that adapt to technological changes will be more competitive. Ontario businesses and workers should be able to make it in the new economy if they are innovative, adaptable, and willing to undergo the necessary training.