Monday, April 19, 2021

Pandemic, Robots and Inequality

Excerpt:

"As automation intensifies following COVID-19 and transforms workplaces, more workers will need to find new jobs, especially those who are less skilled. Policies to mitigate rising inequality include revamping education to meet the demand for more flexible skill sets, and lifelong learning and new training—especially for the most affected workers. A good example is Singapore’s SkillsFuture initiative, which promotes learning in all stages of life to address the challenges brought by technological changes.

These measures may still fall short if the training involves acquiring a substantively different and challenging set of skills, raising the possibility of dropouts. It is therefore important for policymakers to consider ways to address medium-term social challenges, including through strengthened social safety nets.

While robotization is inevitable, its distributional outcome will depend on policies. A society that is more willing to provide support to those who are left behind can accommodate a faster pace of innovation, while ensuring that all members of society are better off."

https://blogs.imf.org/2021/04/19/what-pandemics-mean-for-robots-and-inequality/

Credit image - IMF Blog

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