Technology has changed how the world's economy works, but it has also brought some big problems.

1. Job Displacement

• Machines and artificial intelligence (AI) have taken many jobs, especially in factories and service jobs. This has caused people to lose their jobs and created a gap in income.
• Workers with fewer skills are having the hardest time since their jobs are the most at risk.

2. Economic Inequality

• New technologies often help those who can get a good education and have resources, making the difference between skilled and unskilled workers even bigger.
• As a result, a small group of wealthy people gets richer, causing more frustration and problems in society.

3. Global Competition

• Countries that have strong technology industries usually do very well in world markets, while developing nations find it hard to keep up.
• This situation can hold back growth in poorer areas, keeping them stuck in a cycle of not developing.

Solutions

1. Education and Training: By investing in education and ongoing training, workers can learn new skills to keep up with changing jobs. This helps them work better with new technologies.

2. Regulatory Frameworks: Governments should create rules that support workers who lose their jobs and ensure that everyone has access to technology. This way, more people can benefit from advancements.

3. Global Cooperation: Countries working together can help close the gap in technology. This teamwork can help everyone grow and do better in the economy.

In short, while technology can make things easier and bring new ideas, we need to act quickly to fix the problems it causes. This will help create a fairer global economy for everyone.