New technologies drive higher productivity and economic growth, but also pose challenges for workers.
Asian Development Outlook 2018 report points out that while some of the region’s jobs will be eliminated through automation, countervailing forces will more than compensate against job losses. ADB Chief Economist Yasuyuki Sawada highlights the results of the Asian Development Outlook 2018 and how countries in Asia will fare well as new technology is introduced into the workplace, improving productivity, lowering production costs, and raising demand. The caveat is that policymakers will need to pursue education reforms that promote lifelong learning, maintain labor market flexibility, strengthen social protection systems, and reduce income inequality. This presentation was part of the Technology for Inclusion Conference in April 2018 that served as a lead-up event to the 2018 Annual Governors’ Meeting on 3–6 May 2018 at the ADB Headquarters, where the impact of rapid technological change was one of the central themes.