coming decades can generate significant results. conclusion let me conclude. the covid - 19 pandemic has shown the world the importance of resilience. but the maritime industry has always known this – being able to ride the waves, to adjust course, and to seize the winds makes all the difference not just to success but survival itself. i wish the maritime community all the best as it works together to overcome current challenges, seize new opportunities, and build resilience for the future. thank you. 1 mckinsey global institute ( 2017 ). “ jobs lost, jobs gained : workforce transitions in a time of automation ”. 2 world maritime university ( 2019 ). “ transport 2040 : automation, technology, employment – the future of work ". 3 this was in partnership with the singapore exchange, global compact network singapore, institute of singapore chartered accountants, and sustainability consultants from ey, kpmg, and pwc singapore. 7 / 7 bis central bankers'speeches

impact on jobs in the financial sector from two specific technologies – data analytics and automation. the study looked at 121 distinct job roles in the financial industry, broken down by the various tasks within each role. it then examined how data analytics and automation are likely to change the tasks within each job role. it also identified the skills that would be necessary to perform any new tasks created. the study found that one in three job roles in the financial sector will be heavily transformed by data analytics and automation. this means that some tasks will be automated and others substituted by data analytics. the remaining tasks will converge into new job roles that require more judgement and customisation – both of which require new skillsets. the next step is to look at skills upgrading, job placements, and career pathways in an integrated manner. the institute of banking & finance, together with the industry, used the results of the study to develop a skills framework for financial services. many financial institutions are using this framework to help plan career pathways, transitions in job roles, and training programmes. the third step is the most challenging : workforce transformation to support business transformation. simply hiring those with the skills to fill emerging job roles and firing those who have become less relevant, will not work. we must invest in the existing workforce – building deep technical skills, broad lateral skills, and digital skills of the future. that ’ s what strategic human resource development means. building a resilient workforce in the maritime industry will not be the same as in the financial industry – but there could be some potential take - aways. the maritime industry can consider doing similar granular analysis, to identify changing tasks and new skills in evolving job roles, map out skills gaps across the industry, and plan appropriate interventions. maritime singapore is off to a good start : the skills framework for sea transport, launched in 2017 and updated recently, identified skills in automation, engineering, data analytics, cyber security, and green shipping as growing in importance. the technology trends identified in the skills framework are bearing out. we are seeing more automation : in ports, with remote yard cranes, autonomous guided vehicles, and just - in - time arrival ; in ship agents and managers, with robotic process automation to improve productivity ; and 5 / 7 bis central bankers'speeches in shipping, with significant r & d efforts in maritime autonomous surface ships that can enhance navigational efficiency and safety. data analytics is being used to optimise fleet deployment, bunker procurement, fuel consumption, and freight rates,