The Gig Economy in the Digital Age: Challenges, Opportunities and Pathways Forward

Abstract

The gig economy is revolutionising society by providing new job opportunities, introducing advanced technology tools, and increasing confidence in digital platforms. The digital economy drives growth, productivity, and competitiveness for businesses and organisations, impacting local and global economies. China, one of the largest consumers of the Internet economy, has seen a surge in development due to the Coronavirus, which required remote dealing based on technology and digitization. The success of modern businesses is largely dependent on innovation, and global changes in business, such as the increasing significance of knowledge, creativity, services, and digitization, are creating a new type of economy that values resources like innovation, learning, and company reputation. The gig economy will continue to improve and change conventional job structures and infrastructure in this age of digital innovation. Digital platforms like app-based models that link freelancers with clients for temporary services strengthen the gig economy. For freelancers and gig workers, the gig economy has opened up new opportunities as they adjust to and maximize the advantages of the technological revolution. The use of cutting-edge technology will continue to influence the nature of work in the future and expand opportunities available to independent contractors and freelancers. This research paper is a study on the increase in the gig economy and the development of digitalization in India. Many ICT and human resources significantly influence the gig economy's growth. This study examines the impact of digitalization on the Gig economy.