29  All speeches are available online at www.bankofengland.co.uk/speeches  29  Table 1: Estimates for Job Destruction and Creation from Automation (MIT (2018))  Jobs Destroyed  When  Where  Jobs Created  Predictor  2016  Worldwide  900,000 to 1,500,000  Metra Martech  2018  US jobs  3,078,340  Forrester  2020  Worldwide  1,000,000-2,000,000  Metra Martech  2020  Worldwide  1,800,000  2,300,000  Gartner  2020  Sampling of 15 countries  7,100,000  2,000,000  World Economic Forum (WEF)  2021  Worldwide  1,900,000-3,500,000  The International Federation of Robotics  2021  US jobs  9,108,900  Forrester  2022  Worldwide  1,000,000,000  Thomas Frey  2025  US jobs  24,186,240  2025  US jobs  3,400,000  2027  US jobs  24,700,000  2030  Worldwide  2,000,000,000  2030  Worldwide  400,000,000800,000,000  2030  US jobs  58,164,320  PWC  No Date  US jobs  13,594,320  OECD  No Date  UK jobs  13,700,000  IPPR  13,852,530  13,604,760  Forrester  ScienceAlert  14,900,000  Forrester  Thomas Frey  555,000,000890,000,000  McKinsey  Source: MIT Technology Review (2018) - https://www.technologyreview.com/s/610005/every-study-we-could-find-on-what-automationwill-do-to-jobs-in-one-chart/  30  All speeches are available online at www.bankofengland.co.uk/speeches  30  Chart 6: Wage premium for cognitive skills Real wage level of full time U.S. male workers relative to 1963 2.0 High School Dropout High School Graduate Some College Bachelor's Degree Greater than Bachelor's Degree  1.8 1.6 1.4 1.2 1.0 0.8  1963  1968  1973  1978  1983  1988  1993  1998  2003  2008  Sources: Autor (2014).

As far as the Brazilian financial system is concerned, the Central Bank follows some well established principles of corporate governance, including: •  BIS Review 117/2008  Transparency, facilitating the analysis of the activities of the company, its economic and accounting reports and non-financial aspects inherent to its businesses, offering to those interested a comprehensive vision of the  1  corporation’s performance. The administration shall go beyond the obligation to inform, and reach the desire to inform, in addition to fostering good internal and external communication, which shall not be restricted to financial aspects, but shall be wide and comprehensive. •  Discipline, that is to say, commitment by the management in adhering to behavioral standards widely recognized as correct and appropriate. •  Independence, in what it relates to arrangements to safeguard or minimize possible conflicts of interest, such as the control by an executive or a majority stockholder. Such arrangements include, for instance, a balanced composition of the executive board and administration and the use of external audit. •  Accountability, according to which agents of corporate governance shall be accountable for their actions before those who elected them and shall fully answer for acts practiced in the performance of their duties. •  Responsibility, by which executives shall care for the continuity of the organization and, therefore, shall incorporate considerations of social and environmental content in defining their businesses and operations, including a system for corrective actions and punishment, as needs be.