P2P Lending or Crowdfunding platforms are gaining popularity in substituting for bank credit. Technology such as AI/ML has been used in such diverse areas as investment advice, fraud detection, HelpDesks etc. High Frequency Trading has changed the way financial markets function. 3. Notwithstanding these benefits, it is important to appreciate the limitations of technology.
Moreover, manufacturing workers in positions with greater exposure to robots were more likely to stay at their current workplace, although not necessarily in the same job and usually at the cost of lower wages. Such compositional changes have taken place in the past too. For instance, the share of US employment in agriculture fell by 56 percentage points between 1850 and 2015.