DALLAS (Reuters) – Though technological advances like the advent of driverless cars appear to imperil the jobs of a growing number of workers, worries that humans will simply be replaced by technology are overdone, a Federal Reserve policymaker asserted on Thursday.
“Even if the entire fleet of our nation’s trucks and taxis are eventually replaced by autonomous vehicles, we’ll still need someone to fix them,” Philadelphia Fed President Patrick Harker said in remarks prepared for delivery to a Dallas Fed conference exploring the economic impact of technological disruption.
Jobs will likely require different skills than in the past, he said, and the challenge will be in training and educating workers so they can do those jobs. But jobs there will be, he said.
“I see a much more dramatic impact from the computerisation of the dashboard than from driverless cars,” Harker said. He did not comment on monetary policy or the economic outlook in his prepared remarks.
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)