MANILA -- The chief economist of Asian Development Bank (ADB) on Friday said governments should invest heavily in information and communications technology (ICT) infrastructure to enable further training and reskilling of workers amid growing concerns that technology will lead to job losses.
In a media briefing at the ADB headquarters in Mandaluyong City, chief economist Yasuyuki Sawada said increasing investment in ICT would create an enabling environment as governments pursue training, education and skills development for their respective workers.
"ICT is necessary to adapt to new technology... Put in some resources to this basic enabling environment in the form of physical infrastructure, especially high-end infrastructure in ICT and energy," he explained. The new technological advances pose threats to workers, especially those who do not have the skills or training to move to other jobs, he added.
He highlighted the government's role to soften the consequences of automation by "providing retraining and lifelong education for those that will be vastly affected." Sawada further suggested broadening the conditional cash transfer program by including skills training.
ADB's chief economist said that governments should also adopt more favorable labor regulations accompanied by labor protection policies such as a well-defined employment insurance and social protection program. (PNA)
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