By Fergal O’Brien and Maciej Onoszko – The Bank of England Governor Mark Carney said there are a lot of “routine cognitive jobs,” at risk, in what he termed a “massacre of the Dilberts” — a reference to the satirical American comic strip about office workers.
Technology and the fourth industrial revolution are having untold impact, he said, and it’s going to take huge efforts to make sure workers ultimately benefit. The effect of automation is just one part of the change and examples of the seismic shift can be seen in finance, where many “unglamorous” data entry jobs have already been transformed.
“Get a grip on the scale of the problem. Assess and address,” he said.
Carney added that part of the solution could require major social change, with workers having to extend or return to education in later life to prepare themselves for the new world of labor. He acknowledged that wouldn’t be simple, when many people will have mortgages and other financial responsibilities, and added that up to now not everyone is getting training right. more>