Key Terms

access economy

a nontraditional business model in which consumers participate on both sides of a transaction, sometimes facilitated by a third party

artificial intelligence (AI)

the branch of science that uses computer algorithms to replicate human intelligent behavior by machines with minimal human intervention

flextime

a work schedule in which employees can select their own start and finish time

gig economy

an environment in which individuals and businesses contract with independent workers for the completion of short-term assignments, engagements, or projects, offering few or no benefits beyond compensation

job sharing

the use of two or more employees to perform the work of one full-time position

robotics

a field of research that includes computer science, mechanical and electronics engineering, and science process with the objective to produce robots, or related forms of automation, to replicate human tasks

telecommuting

working from a remote location (home or other space) by means of electronic connections