AI, GIG Economy and Unemployment Foresight: A glance on the Global Economy

Abstract

The study examines the relationship between the Gig economy and AI that has highlighted their impact on the global labor market, with the Gig economy providing short-term jobs and AI revolutionizing industries. The Gig economy drive by technology and changing work patterns, offers flexibility but also presents challenges like job insecurity and income inconsistency that has been highlighted from human capital theory and social network theory. The Gig economy significantly contributed to global GDP, with projections for further growth however, AI’s economic implications are vast, but challenges include job displacement. The interplay among Gig economy and AI us dynamic with AI automating tasks for Gog workers and platforms in using data for improved efficiency. The study has used secondary quantitative research methodology in giving a comprehensive analysis drawing on recent statistics. The study has examined the impact of Gig workers on the global labor market, that has highlighted the potentials job losses and gains. Further, its emphasis the need for policy interventions to ensure fair compensation, social protection, and skills development, promoting transparency and safeguarding against discrimination.