The article explains that automation does not automatically eliminate jobs, illustrated by the example of bank tellers after the introduction of ATMs. ATMs reduced the cost of operating branches, allowing banks to open more locations. As a result, the number of teller jobs initially remained stable, while their duties shifted toward customer service and sales. Job losses occurred later, with the rise of online and mobile banking, which changed how banking itself worked. The conclusion is that employment declines primarily when technology replaces an entire system, rather than when it merely automates individual tasks.
Why ATMs Didn’t Kill Bank Teller Jobs, but the iPhone Did
