ISSN 2360-7963
The gig economy is different from the conventional employment model where individuals typically commit themselves to long-term positions with a single employer. This system, which has gained immense popularity in recent years, is fundamentally different from the conventional permanent employment model where individuals typically commit to long-term positions with a single employer. An analysis of the gig economy is given first, which starts with a detailed examination of the rapid growth driven by technological advancements and changes in the economic conditions. In addition, the gig economy has the possibility to become one of the most lucrative market places for skilled workers. It is the point where the fulfillment of dreams coexists with endless frustration, including the lack of essential benefits, income instability, and legal uncertainties around the issues of employment rights. With the advent of the Internet, the world has been steadily changing each day. As we are moving more into automation, the scope of work is changing. The future of work will require workers to turn into entrepreneurs and innovators who are supported by their supporters. As the landscape of work keeps on changing, an examination of the possible policy responses, such as addressing the shortcomings faced by gig workers while nurturing innovation and entrepreneurship is also presented. This study thus aims to give an overview of work's possible future and it argues for a guarded governance over workers' rights allowing the industry to still be agile and creative.
Keywords: Gig Economy, Opportunities, Challenges, Workers, Employers