The impact of technology on work and business

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Historically, technological transformations have been associated with changes in the level of employment. It is no coincidence that each phase of the Industrial Revolution was associated with broader changes in the structure of employment. The first Industrial Revolution brought the peasant to the factory, the second Industrial Revolution placed the worker on the ‘production line’, while the third forced him to ‘converse’ with technology.  John Maynard Keynes spoke of ‘technological unemployment’ (structural unemployment), in other words, the loss of jobs caused by the development of technology, but he also pointed to the future adaptation to technological innovations. Technological progress transforms the labour market, reducing (or eliminating) the demand for labour in certain sectors and increasing demand in others. In trade in particular, technological transformations imply radical changes in the structure of industrial relations in the sector. New qualifications and high skills are now seen as crucial. On the other hand, the adoption of digital practices is putting pressure on traditional occupations in commerce, exacerbating so-called flexible forms of work. In Greece, trade continues to be the most important employer in the country (17.9% of total employment in 2021), with the share of part-time employment in the sector decreasing significantly (from 8.3% of total jobs in 2021 to 10.3% in 2020), documenting the creation of stable jobs. In any case, however, the challenges of digitization in employment remain open.