Industry 4.0 – The Future of Austrian Jobs

Abstract

What are the socio-economic effects of the widespread introduction of robots, algorithms and digital technologies like artificial intelligence and machine learning? Following Frey & Osborne (2014, 2017), we apply the computerization probabilities to occupations in Austria. We conclude that about 40% of the Austrian workforce is active in occupations that are very likely to undergo substantial changes regarding task structure, skill requirement and working environment in the future. We also provide evidence of a relationship between gender and computerization risk in Austria, as women seem more likely to be affected by technological changes. Following EBRD (2018), we see a broader move towards job polarization. We see this as distributive consequences of technological change and argue that the consequences of technology refashioning socio-economic development are influencing market processes, actors and inequalities.

Keywords: Computerization, Technological Change, Labor Demand, Skill Demand

JEL Classification: J21, J23, J24, J62, O33