. 2. what will change is the types of workers that will be in demand. we will need people with highly technical skills to program and repair the technology. we will also need people to perform tasks that may never be replicated by a machine because they require creativity, intuitive judgment, inspiration or simply a human touch. 3. canada should embrace new technologies and their benefits, while proactively managing their more harmful side effects. policies that help businesses and workers manage what could be a difficult transition are essential. so are policies that address the potential for amplified income inequality and, in some cases, increased market power. the bank ’ s job in all of this will be to foster the macroeconomic conditions that will help canada adapt and grow. 1 / 6 bis central bankers'speeches were the luddites right? let me dive right into my first point. in the past couple of centuries, the world has seen revolutionary innovations like the steam engine, the combine, the jet engine and the assembly - line robot. the resulting increases in productivity gave us a 20 - fold increase in real income per capita in canada over the past 150 years. our underwhelming productivity performance since the early 2000s has cost us dearly. if productivity had continued to grow at the pace it did in the late 1990s, our gross domestic product ( gdp ) would have been 23 per cent higher in 2016, meaning an extra $ 13, 000 for every canadian. even as we see the benefits of technology, many of us feel uneasy about what automation could mean for workers. fears of technological progress are as old as technological progress itself. now, there is no doubt that technological improvements have eliminated jobs at the sectoral level. take manufacturing, for instance. innovations such as industrial robots have reduced the need for workers in that sector. if we were to roll back the clock on canadian manufacturing productivity to what it was 20 years ago, three - quarters of a million more people would have been needed to produce today ’ s level of output in that sector. but the manufacturing jobs lost were offset with gains elsewhere. roughly 82 per cent of the prime - age population is now employed, about 13 percentage points higher than 40 years ago. other past technological advances did not lead to a sustained rise in overall unemployment either. let me use agriculture to illustrate the economic mechanisms that have helped us adapt and thrive in the past, which are often underemphasized. factory farming and the combine harvester increased labour productivity in the farming sector

reform agenda. the global community, the g20, international financial institutions and all multilateral actors must multiply their efforts in climate change mitigation and adaptation ; pandemic prevention, preparedness and response ; and digitalization. in the short term, the war could have a negative impact on energy transition. high oil and gas prices and risks to their future availability are leading some countries to intensify their demand for coal. in many economies the security of energy supplies – including from fossil fuels – has become a priority. it should be reiterated that the direction of environmental policies has not changed and the medium - and long - term plans to reduce carbon emissions remain valid. it must be clear that any setbacks are temporary and that pursuing net - zero targets in the appropriate time frame is still the priority, notwithstanding the question of how to integrate these targets into the need for energy security. we urge the wbg to continue to contribute to this agenda with its convening power and its work on country climate and development reports and paris alignment. while the pandemic is far from over, the window is narrowing in which to address important questions related to prevention, preparedness and response ( ppr ) for 2 / 3 bis - central bankers'speeches future health threats. we commend the bank for its work in providing focus on ppr in ida and for its active participation in the work of the g20 joint finance and health task force. collaborating effectively with the world health organization ( who ) is important to building consensus around a new instrument to help fill the sizable gap in pandemic ppr financing. digitalization is at the core of a green, resilient, and inclusive development. the wbg paper on digitalization and development provides a comprehensive, well - structured approach to advancing this 3 agenda and increasing its development impact. we appreciate its clear message that the public and private sectors can work together to generate a conducive environment for digitalization. private capital mobilization is paramount to addressing the financing needs of developing countries. therefore, the wbg should continue to strengthen its one wbgapproach, synchronizing the ifc and miga's work in creating innovative instruments and strategies with the world bank's work enabling and supporting that mobilization. in the years following the end of the cold war, a peace dividend had emerged. this dividend was – and still is – significant, offering greater resources for investment, establishing peaceful scientific and technological advances