Frontier issues: the impact of the technological revolution on labour markets and income distribution

Technology has always been at the forefront of social and economic progress. Today, the pace of breakthroughs in several clusters of technology - from gene editing to machine learning and advanced materials - may signify that a new technological revolution is at hand, which could be not only transformative for almost every industry and every country, but also disruptive. Just as these new technologies hold immense promise, there are concerns that technological innovation will lead to increased unemployment, suppressed wages and greater inequality. There are fears that machines enabled by artificial intelligence will replace many human jobs, resulting in mass unemployment and impoverishment. However, the impact of these new technologies on labour markets and income distribution is not predetermined. The right policy mix and institutional arrangements can ensure that benefits of innovation are shared broadly, an essential step to achieving the [Sustainable Development Goals] SDGs for all. Governments, as well as the United Nations, should create a regulatory and legal framework that facilitates the adoption and diffusion of new technologies, while helping to address their negative consequences.

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