WEBINAR AVAILABLE | Reaping the Benefits of I4.0

Asian Development Bank (ADB) (08 April, 2021) - The ADB study Reaping the Benefits of Industry 4.0 Through Skills Development in High-Growth Industries in Southeast Asia explored the implications of the Fourth Industrial Revolution (4IR) on future job markets. The Fourth Industrial Revolution (4IR) has ushered in extraordinary technological advances, fusing boundaries of physical, digital, and biological worlds to create new paradigms in the way we live, work, and interact. The study included policy analysis, research and survey of employers and training institutions on their readiness for 4IR in four countries – Cambodia, Indonesia, the Philippines, and Viet Nam.  

The study has estimated job displacement and gains in the selected industries in the 4 countries and reports that job losses could be offset by new jobs, but skills development is crucial to realize those benefits. A review of the policy landscape based on benchmarks from international trends and experiences provides the basis for the action points that countries can use to harness the potential of 4IR to increase productivity, facilitate skills development, and incentivize industry. The recommendations from the study point to the need to implement decisive changes in renewing skills development strategies that acquire a full life cycle approach to skills development.

This webinar presented highlights from the study which has given rise to 5 reports – 4 country reports and a synthesis report providing a regional perspective. The key implications and practical actions for consideration by ADB’s developing member countries were shared. The experience of Singapore of facilitating skills development in the context of 4IR was shared with responses from participants from developing member countries.

Objective

To propose action points that ADB DMCs can use to harness the potential of 4IR to increase productivity, facilitate skills development, and incentivize industry. The recommendations from the study point to the need to implement decisive changes in renewing skills development strategies that acquire a full life cycle approach to skills development.

Target participants

Government officials, policymakers, university and training institutions representatives, education experts and workers, and education and training stakeholders.

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