Gig economy is here to stay

PEOPLE lose jobs when companies fail to compete with the technology-enabled alternatives which offer new inventions and modifications in an attempt to stay relevant with existing customers as well as to attract new customers.

One example, the travel agencies - losing to online travel booking websites, Uber services is replacing the traditional taxis, and Netflix has taken over the entertainment industry. However, the food and retail industries have restructured their business models with more online options and home deliveries. These disruptions are increasing with job cuts around the world.

The word 'Gig' often relates to artists or performing artistes to play for explicit functions or momentary commitment. In any case, this trendy expression has streamed its approach to practically any sort of work, especially on an impromptu or impermanent premise.