1. Technological change means that many routine tasks will soon be done by machines. 2. In contrast to previous episodes - the internet will also make many tasks carried out in white-collar jobs redundant. 3. This puts a premium on different types of skills that automation complements rather than replaces Education systems have been slow to respond to this challenge. 4. Furthermore - the pace of change is fast - and the types of skills in demand change quickly. 5. Internet fi rms create new business models and change market structure - posing new challenges for regulatory authorities.