A gig economy is a free market system in which temporary positions are

common and organizations hire independent workers for short-term

commitments. The term "gig" is a slang word for a job that lasts a specified
period of time; it is typically used by musicians. Examples of gig employees in
the workforce could include work arrangements such as freelancers,
independent contractors, project-based workers and temporary or part-time
hires.

There has been a trend toward a gig economy in recent years. There are a
number of forces behind the rise in short-term jobs. For one, the workforce is
becoming more mobile and work can increasingly be done remotely via digital
platforms. As a result, job and location are being decoupled. That means that
freelancers can select among temporary jobs and projects around the world,
while employers can select the best individuals for specific projects from a
larger pool than what's available in any given area.

Digitization has also contributed directly to a decrease in jobs as software

replaces some types of work to maximize time efficiency. Other influences
include financial pressures on businesses leading to a flexible workforce and
the entrance of the millennial generation into the labor market. People tend to
change jobs several times throughout their working lives, especially
millennials, and the gig economy can be seen as an evolution of that trend.

The gig economy is part of a shifting cultural and business environment that
also includes the sharing economy, the gift economy and the barter economy.
The cultural impact of the gig economy continues to change, for example, with
the advent of COVID-19 in 2020 -- where the pandemic has had a large
influence.

Who is part of the gig economy?

Companies, gig workers and consumers all make up the gig economy. The
types of organizations that the gig economy can apply to range from technical
positions to transportation positions.

For example, some industries that include gig economy jobs are:

● IT
● Software development
● Project management
● Accounting and finance
● Education
● Construction
● Media and communications
● Freelance writing
● Arts and design
● Transportation
● Material moving
There isn't a single profile for who gig economy workers tend to be. However,
these workers can include freelancers, independent contractors,
project-based workers and temporary or part-time hires. In 2017, 6.9% of all
US workers were independent contractors. Gig workers are generally not easy
to identify in surveys about employment and earnings, but reportedly, less
than half of these workers rely on gigs as their primary source of income.
Some studies have shown that men tend to take more labor-based gigs and
try to rely on this for income, while women will be more likely to take sales or
marketing gigs for supplemental income.

Consumers may participate in the gig economy as a matter of convenience,

as with ride-sharing or food delivery apps. Others may participate in it in terms
of entertainment, as with concert-goers. Others still, may participate in the gig
economy as a potential alternative to non-gig products or industries. For
example, a person may choose to stay at an Airbnb instead of a hotel. There
have been many popular gig-based services, including ridesharing apps like
Uber or food delivery services like Grubhub. However, in 2020, the gig
economy began changing how customers use these services due to
COVID-19.

A survey was conducted by the University of Chicago Harris School of Public

Policy and The Associated Press-NORC Center for Public Affairs Research in
2020 about how consumer attitudes changed regarding ride-hailing and
delivery services. The survey found a divide in user base. Americans with
higher incomes were more likely to use these delivery services to help reduce
their risk of infection. Regarding customers who previously used ride-hailing
services, 63% said they had not used the service since March of 2020, and
54% said they feel uncomfortable using a ride-hailing service during the
COVID-19 outbreak. With the presumable loss of customers, however, the
percentage of individuals using delivery services remained approximately the
same. This could've been caused because those who cut back on these
services because of comfort and cost was balanced by some users,
increasing their reliance on these services. Additionally, people with higher
household incomes had more groceries delivered to their homes at this time.
Households with incomes of about $100,000 a year were about twice as likely
to have increased their use of grocery delivery services, AP reported.

However, even though delivery services remained about the same, some
services still lost money. For example, even though GrubHub's daily average
orders rose 32% in the second fiscal quarter, it still lost money in efforts to
protect drivers and prop up struggling restaurants.

Common gig economy jobs and industries

Gig economy jobs may include multiple positions found in common industries
that hire gig workers. For example:

● IT gigs may include freelance work for information security engineer

and network Analyst jobs.
 ● Software development gigs can include DevOps engineers and UX
● Freelance writer gigs may include gigs for content writer and
copywriter jobs.
● Accounting and finance freelance gigs can include independent
consultants and mortgage representatives.
● Transportation jobs can include ride-share drivers.
● Construction gigs can include carpenters and other construction
workers.
● Art and design gigs can include musicians or graphic design
● Administrative gigs can include pharmacy technician and design
administrative assistant jobs.
● Media and communications gigs can include technical writers and
photographers.
● Education gigs can include substitute instructors and tutors.
● Project management gigs can include project or office manager jobs.

Perks of the gig economy

In a gig economy, businesses save resources in terms of benefits, office

space and training. They also have the ability to contract with experts for
specific projects who might be too high-priced to maintain on staff. From the
perspective of the freelancer, a gig economy can improve work-life balance
over what is possible in most jobs. Ideally, the model is powered by
independent workers selecting jobs that they're interested in, rather than one
in which people are forced into a position where, unable to attain employment,
they pick up whatever temporary gigs they can land.

Issues with the gig economy

However, the gig economy isn't for everyone. Some downsides include:

● Lack of benefits may be the biggest downside. A gig worker won't

have health insurance or other benefits they would get from working
as full-time employee
● By labeling workers as independent contractors, a hiring organization
will not need to pay those workers minimum wage, deliver benefits or
pay for overtime.
● Work-life balance can be disrupted if the worker isn't used to making
their own schedules.
● Because temporary employees are cheaper to hire, the gig economy
may make it harder for full-time employees to develop their careers.
● Inconsistent income can also be an issue. Having enough work to
maintain a stable income from gigs can be a continuous worry in
terms of job security.
● Taking on too many gigs may also add to difficulties in scheduling
and may lead to burnout.
● It will be more difficult to maintain relationships between workers,
employers and clients long term.
Blockchain

Blockchain is a system of recording information in a way that makes it difficult or

impossible to change, hack, or cheat the system.

A blockchain is essentially a digital ledger of transactions that is duplicated and

distributed across the entire network of computer systems on the blockchain. Each
block in the chain contains a number of transactions, and every time a new transaction
occurs on the blockchain, a record of that transaction is added to every participant’s
ledger. The decentralised database managed by multiple participants is known as
Distributed Ledger Technology (DLT).

Blockchain is a type of DLT in which transactions are recorded with an immutable

cryptographic signature called a hash.
This means if one block in one chain was changed, it would be immediately apparent it
had been tampered with. If hackers wanted to corrupt a blockchain system, they would
have to change every block in the chain, across all of the distributed versions of the
chain.

Blockchains such as Bitcoin and Ethereum are constantly and continually growing as
blocks are being added to the chain, which significantly adds to the security of the
ledger.

Why is there so much hype around blockchain

technology?
There have been many attempts to create digital money in the past, but they have
always failed.

The prevailing issue is trust. If someone creates a new currency called the X dollar, how
can we trust that they won't give themselves a million X dollars, or steal your X dollars
for themselves?

Bitcoin was designed to solve this problem by using a specific type of database called a
blockchain. Most normal databases, such as an SQL database, have someone in
charge who can change the entries (e.g. giving themselves a million X dollars).
Blockchain is different because nobody is in charge; it’s run by the people who use it.
What’s more, bitcoins can’t be faked, hacked or double spent – so people that own this
money can trust that it has some value.
Internet of things
The Internet of things (IoT) describes the network of physical objects—a.k.a.
"things"—that are embedded with sensors, software, and other technologies for the
purpose of connecting and exchanging data with other devices and systems over the
Internet.[1][2][3][4]

Things have evolved due to the convergence of multiple technologies, real-time

analytics, machine learning, commodity sensors, and embedded systems.[1] Traditional
fields of embedded systems, wireless sensor networks, control systems, automation
(including home and building automation), and others all contribute to enabling the
Internet of things. In the consumer market, IoT technology is most synonymous with
products pertaining to the concept of the "smart home", including devices and
appliances (such as lighting fixtures, thermostats, home security systems and cameras,
and other home appliances) that support one or more common ecosystems, and can be
controlled via devices associated with that ecosystem, such as smartphones and smart
speakers. The IoT can also be used in healthcare systems.[5]

There are a number of serious concerns about dangers in the growth of the IoT,
especially in the areas of privacy and security, and consequently industry and
governmental moves to address these concerns have begun including the development
of international standards.
What is Big Data?
Big data defined
What exactly is big data?

The definition of big data is data that contains greater variety, arriving in increasing volumes and
with more velocity. This is also known as the three Vs.

Put simply, big data is larger, more complex data sets, especially from new data sources. These
data sets are so voluminous that traditional data processing software just can’t manage them.
But these massive volumes of data can be used to address business problems you wouldn’t
have been able to tackle before.

Volume The amount of data matters. With big data, you’ll have to process high
volumes of low-density, unstructured data. This can be data of unknown
value, such as Twitter data feeds, clickstreams on a web page or a mobile
app, or sensor-enabled equipment. For some organizations, this might be
tens of terabytes of data. For others, it may be hundreds of petabytes.

Velocity Velocity is the fast rate at which data is received and (perhaps) acted on.
Normally, the highest velocity of data streams directly into memory versus
being written to disk. Some internet-enabled smart products operate in real
time or near real time and will require real-time evaluation and action.

Variety Variety refers to the many types of data that are available. Traditional data
types were structured and fit neatly in a relational database. With the rise of
big data, data comes in new unstructured data types. Unstructured and
semistructured data types, such as text, audio, and video, require additional
preprocessing to derive meaning and support metadata.
The value—and truth—of big data
Two more Vs have emerged over the past few years: value and veracity. Data has intrinsic
value. But it’s of no use until that value is discovered. Equally important: How truthful is your
data—and how much can you rely on it?

Today, big data has become capital. Think of some of the world’s biggest tech companies. A
large part of the value they offer comes from their data, which they’re constantly analyzing to
produce more efficiency and develop new products.

Recent technological breakthroughs have exponentially reduced the cost of data storage and
compute, making it easier and less expensive to store more data than ever before. With an
increased volume of big data now cheaper and more accessible, you can make more accurate
and precise business decisions.

Finding value in big data isn’t only about analyzing it (which is a whole other benefit). It’s an
entire discovery process that requires insightful analysts, business users, and executives who
ask the right questions, recognize patterns, make informed assumptions, and predict behavior.

But how did we get here?

The history of big data

Although the concept of big data itself is relatively new, the origins of large data sets go back to
the 1960s and ‘70s when the world of data was just getting started with the first data centers
and the development of the relational database.

Around 2005, people began to realize just how much data users generated through Facebook,
YouTube, and other online services. Hadoop (an open-source framework created specifically to
store and analyze big data sets) was developed that same year. NoSQL also began to gain
popularity during this time.

The development of open-source frameworks, such as Hadoop (and more recently, Spark) was
essential for the growth of big data because they make big data easier to work with and cheaper
to store. In the years since then, the volume of big data has skyrocketed. Users are still
generating huge amounts of data—but it’s not just humans who are doing it.
 With the advent of the Internet of Things (IoT), more objects and devices are connected to the
internet, gathering data on customer usage patterns and product performance. The emergence
of machine learning has produced still more data.

While big data has come far, its usefulness is only just beginning. Cloud computing has
expanded big data possibilities even further. The cloud offers truly elastic scalability, where
developers can simply spin up ad hoc clusters to test a subset of data. And graph databases
are becoming increasingly important as well, with their ability to display massive amounts of
data in a way that makes analytics fast and comprehensive.

Big data benefits:

● Big data makes it possible for you to gain more complete answers because you have
more information.
● More complete answers mean more confidence in the data—which means a
completely different approach to tackling problems.

Big data use cases

Big data can help you address a range of business activities, from customer experience to
analytics. Here are just a few.

Product Companies like Netflix and Procter & Gamble use big data to anticipate
development customer demand. They build predictive models for new products and services
by classifying key attributes of past and current products or services and
modeling the relationship between those attributes and the commercial
success of the offerings. In addition, P&G uses data and analytics from focus
groups, social media, test markets, and early store rollouts to plan, produce,
and launch new products.

Predictive Factors that can predict mechanical failures may be deeply buried in structured
maintenance data, such as the year, make, and model of equipment, as well as in
unstructured data that covers millions of log entries, sensor data, error
messages, and engine temperature. By analyzing these indications of potential
issues before the problems happen, organizations can deploy maintenance
more cost effectively and maximize parts and equipment uptime.
Customer The race for customers is on. A clearer view of customer experience is more
experience possible now than ever before. Big data enables you to gather data from social
media, web visits, call logs, and other sources to improve the interaction
experience and maximize the value delivered. Start delivering personalized
offers, reduce customer churn, and handle issues proactively.

Fraud and When it comes to security, it’s not just a few rogue hackers—you’re up against
compliance entire expert teams. Security landscapes and compliance requirements are
constantly evolving. Big data helps you identify patterns in data that indicate
fraud and aggregate large volumes of information to make regulatory reporting
much faster.

Machine Machine learning is a hot topic right now. And data—specifically big data—is
learning one of the reasons why. We are now able to teach machines instead of
program them. The availability of big data to train machine learning models
makes that possible.

Operational Operational efficiency may not always make the news, but it’s an area in which
efficiency big data is having the most impact. With big data, you can analyze and assess
production, customer feedback and returns, and other factors to reduce
outages and anticipate future demands. Big data can also be used to improve
decision-making in line with current market demand.

Drive Big data can help you innovate by studying interdependencies among humans,
innovation institutions, entities, and processes and then determining new ways to use
those insights. Use data insights to improve decisions about financial and
planning considerations. Examine trends and what customers want to deliver
new products and services. Implement dynamic pricing. There are endless
possibilities.
Photovoltaics
Photovoltaics (PV) is the conversion of light into electricity using semiconducting materials that
exhibit the photovoltaic effect, a phenomenon studied in physics, photochemistry, and
electrochemistry. The photovoltaic effect is commercially utilized for electricity generation and as
photosensors.

A photovoltaic system employs solar modules, each comprising a number of solar cells, which
generate electrical power. PV installations may be ground-mounted, rooftop-mounted, wall-mounted
or floating. The mount may be fixed or use a solar tracker to follow the sun across the sky.

PV has become the cheapest source of electrical power in regions with a high solar potential, with a
[1]
bid for pricing as low as 0.01567 US$/kWh in Qatar in 2020. Panel prices have dropped by the
factor of 4 between 2004 and 2011. This competitiveness opens the path to a global transition to
sustainable energy, which would be required to help mitigate global warming. The emissions budget
for CO
2 to meet the 1.5 degree target would be used up in 2028 if emissions remain on the current level.
However, the use of PV as a main source requires energy storage systems or global distribution by
high-voltage direct current power lines causing additional costs, as well as a number of other specific
disadvantages such as unstable power generation and the requirement for power companies to
compensate for too much solar power in the supply mix by having more reliable conventional power
supplies in order to regulate demand peaks and potential undersupply.

Solar PV has specific advantages as an energy source: once installed, its operation generates no
pollution and no greenhouse gas emissions, it shows simple scalability in respect of power needs
and silicon has large availability in the Earth's crust, but other materials required in PV system
manufacture such as silver will eventually constrain further growth in the technology. Other major
[2]
constraints identified are competition for land use and lack of labor in making funding applications.

Production and installation does cause pollution and greenhouse gas emissions and there are no
viable systems for recycling the panels once they are at the end of their lifespan after 10 to 30 years.
Photovoltaic systems have long been used in specialized applications as stand-alone installations
[3]
and grid-connected PV systems have been in use since the 1990s. Photovoltaic modules were

first mass-produced in 2000, when German environmentalists and the Eurosolar organization
[4]
received government funding for a ten thousand roof program.

[5]
Advances in technology and increased manufacturing scale have in any case reduced the cost,

[3][6]
increased the reliability, and increased the efficiency of photovoltaic installations. Net metering

and financial incentives, such as preferential feed-in tariffs for solar-generated electricity, have
[7]
supported solar PV installations in many countries. More than 100 countries now use solar PV.

In 2019, worldwide installed PV capacity increased to more than 635 gigawatts (nuclear
energy around 400 gigawatts) (GW) covering approximately two percent of global

[8]
electricity demand. After hydro and wind powers, PV is the third renewable energy source in terms

of global capacity. The International Energy Agency expects a growth by 700 - 880 GW from 2019 to
[9]
2024.

In 2020, a rooftop photovoltaic system recoups the energy needed to manufacture it in 1.28 years in
[10]
Ottawa, Canada, 0.97 years in Catania, Italy, and 0.4 years in Jaipur, India.

PV has grown as an energy source primarily as a result of technological development delivering

[
decreasing costs.