HKUST IEMS and IPP Hosted the “International Conference: Managing Disruptive Technologies and Platform Economy: Labor Market and Social Policy Implications”
Gathering International Renowned Experts in Technology, Economics and Social Policy
Addressing the Pressing Challenges and Opportunities Posed by the Rapid Advancement of Technology in the Labor Market
The Institute for Emerging Market Studies (IEMS) and the Institute for Public Policy (IPP) at the Hong Kong University of Science and Technology (HKUST) hosted, supported by EY, an international conference titled "Managing Disruptive Technologies and Platform Economy: Labor Market and Social Policy Implications" on February 14, 2025. The conference aimed to provide insights and offer a platform for policymakers, industry leaders, government officials, and academic professionals to exchange ideas and formulate strategies for an equitable technological future.
The conference brought together over 30 policymakers, practitioners, and scholars from Germany, South Korea, Austria, Finland, Hong Kong, Mainland China, and all over the world, as well as renowned economists and scholars, including the Asia Development Bank and International Labour Organization to share valuable insights on the rapid technological changes impacting industries and the corresponding shifts required in social policies to mitigate adverse effects.
The dialogue commenced with opening remarks from Prof. Alex Jingwei HE, Acting Director of IPP, Prof. HE emphasized the importance of interdisciplinary collaboration in addressing the multifaceted impacts of disruptive technologies. “We come together from various parts of the world to examine critical challenges brought about by innovations, particularly massive job displacement effects. However, the social welfare and protection systems do not seem to be well adapted.”
In his welcome remarks, to kick start the conference, Prof. Kar Yan TAM, Vice President for Business and Administration and Acting Director of IEMS at HKUST, stated, “The topic we are going to discuss cannot be more timely, how technology and artificial intelligence (AI) can affect manpower and the society. Today’s conference we break down the sectoral signals by bringing together speakers from multiple sectors, from the legislators, international organizations, think tanks, high tech companies and labor unions.”
At the conference, a panel discussion delved into the current landscape and future implications of technology on labor markets and social policies, featuring insights from Prof. Yike GUO, Provost at HKUST; Prof. Albert PARK, Chief Economist at Asian Development Bank; Dr. Wendy Wen HONG, Member of the Legislative Council, Hong Kong Special Administrative Region; Mr. Chris LEUNG, Partner, Financial Services Technology Consulting, Ernst & Young Advisory Services Limited and moderated by Prof. Bert Shi from Department of Electronic and Computer Engineering of HKUST.
During the panel discussion, Prof. Albert PARK emphasized that while there are concerns about job displacement, there are also significant productivity gains and the creation of new job opportunities resulting from technological advancements. “Economists tend to be technological optimists because they tend to see the contributions from new technologies for raising productivity, and they trust the labor market to adjust itself flexibly.” He also raised concerns about the potential for increased inequality, especially as higher-skilled sectors may be more exposed to AI, which could lead to greater wage disparity. “There’s been a lot of research by labor economists about how technologies have affected workers at different skill levels. Evidence shows that in advanced countries we have seen wages become more unequal because computers replaced the middle-skilled jobs.” he stated.
Another panellist, Dr Wendy Wen HONG, stated the labor issues Hong Kong is facing, “The reality is in Hong Kong, we are facing a labor shortage now and the young generation are reluctant to fill those vacancies like I just mentioned, construction work and caregiver. So, we may see polarization in the job market. There will be more demand for technology and data-driven roles like AI exports or cybersecurity, but those office rules that can be easily automated will be.” Dr. HONG also advocated for technological development to target the labour shortage in Hong Kong labour markets, matching the potential of innovations with labour demands instead of creating displacement.
The fundamental cause of AI development is facilitating mutual understanding between AI and human beings while stressing the importance of AI governance. Prof. Yike GUO stated, “All we are doing is doing two things: make the machine understand the human made the human understand the machine. That is the fundamental AI challenge and that fundamental work we are doing every day.”
The insights shared during the conference contribute significantly to policymaking in Hong Kong and beyond. And to foster dialogue among various stakeholders to create a resilient labor market and social welfare and protection systems that can adapt to technological advancements. The research presented at this international conference will be collected and published in the Journal of Asian Public Policy.
HKUST IEMS is committed to advancing research and thought leadership on critical issues shaping emerging markets. The successful hosting of this conference helps foster knowledge exchange and shape the economic and technological advancements in the Greater Bay Area and beyond.
We thank EY for their support in hosting this conference.
Program
Photos Captions
1. HKUST IEMS and IPP Organized the “International Conference: Managing Disruptive Technologies and Platform Economy: Labor Market and Social Policy Implications”
2. The conference kick-started with a panel discussion that delved into the topic of “Disruptive Technology and Their Impacts on Labor Market and Social Protection.”
3. The conference brought together over 30 policymakers, practitioners, and scholars from all over the world to share their valuable insights.
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