Advanced Technologies and Wage Inequality

Advanced technologies, like artificial intelligence and automation, can lead to wage inequality by increasing demand for high-skilled workers while reducing the need for low-skilled labor. As companies invest in technology, jobs requiring advanced skills see higher wages, but routine jobs may disappear or pay less. This creates a divide where those with the necessary skills thrive, while others struggle to find employment or earn lower wages. As technology continues to evolve, addressing this divide becomes crucial for ensuring that economic growth benefits everyone, rather than just a select few.