World bank chief alarms over job automation

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Added On October 11, 2017

With automation threatening to wipe out millions of current jobs, the World Bank chief has urged policymakers to take action.
 
Jim Yong Kim suggests governments should invest more in their education and health to cope with the long term effects. 
 
The World Bank president made the remarks in New York, ahead of the group's annual meeting in Washington DC later this week.  
 
In a shift of focus, the World Bank says it plans to publish a ranking of countries that measures investments in "human capital", such as education.  
 
The organization was set up to focus on infrastructure - but Kim said other kinds of investments are important to economic growth in the future, as robots displace millions of low-skill workers. 
 
He said, quote, "We want to create a sense of urgency to invest in people that we think is necessary given the way ... the global economy is changing."
 
Kim suggests the push for education and health investments comes as outlooks for economic growth improve.