World Bank’s World Development Report 2019, rejected fears that robots and machines could take over human jobs, potentially leading to the sacking of thousands of workers.
The fears that robots could take away jobs from people have dominated discussions over the future of work; the report says that such fears are unfounded.
The report explained that technology is blurring the boundaries of some firms, as has been evident in the rise of platform marketplaces and firms can grow rapidly, thanks to digital transformation in addition expanding their boundaries and reshaping traditional production patterns.
World Bank’s World Development Report 2019
Meanwhile, investing in human capital is a priority to make the most of technology as an evolving economic opportunity. Also, the report encourages governments to create formal jobs to seize the benefits of technological change.
Noteworthy, the World Bank’s Chief Economist Pinelopi Koujianou Goldberg explained in an interview with Bloomberg, on January 2019, that this fear that robots will eliminate jobs is not supported by the evidence so far.
Goldberg reported that this is the fourth industrial revolution; "There have been three before and in each case, we managed to survive so it’s not the case that machines will completely eliminate humans."
The World Development Report 2019 is the latest in a series of efforts by academics, consultancies and governments to assess the impact of new technologies on employment. Past studies have often forecast automation will destroy more jobs than it creates.
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