The G20 and the Reskilling Effort to Bring the Fourth Industrial Revolution to Emerging Countries: Some Insights from Latin America

Abstract

Fueled by major disruptions in the technological landscape, a process of Schumpeterian creative destruction is underway. According to the most accepted global narrative, the negative impacts of digital transformation on labour markets will be temporary and a new equilibrium will be eventually attained, based on a full absorption of new technologies and the complete acquisition of the relevant skills by workers. In this policy brief, we ask to what extent Latin America is ready to reap the benefits of this revolution, and propose a set of policies for a successful reskilling of the labour force.