This report by World Bank Group, emphasizes how much technology is advancing and creating new opportunities, which is why the primacy of human capital will resist simple and prescriptive solutions to the challenges of more and more jobs requiring specific skills as well as soft skills.
Three-quarters of the citizens of the European Union, the world’s lifestyle superpower, believe that the workplace benefits from technology, according to a recent Eurobarometer survey. Two-thirds said technology will benefit society and improve their quality of life even further.
Despite this optimism, concerns about the future remain. People living in advanced economies are anxious about the sweeping impact of technology on employment. They hold a view that rising inequality, compounded by the advent of the gig economy, is encouraging a race to the bottom in working conditions. However, on balance this is unfounded. Some advanced economies and middle-income countries manufacturing jobs are being lost to automation. Yet technology provides opportunities to create new jobs, increase productivity and deliver effective public services. Through innovation, technology generates new sectors and new tasks.