Singapore Deputy Prime Minister Lawrence Wong said he expects technology, including artificial intelligence, to disrupt the labour market but added that it won’t eliminate jobs completely. CNBC reports Wong said in a speech that technology can make humans more productive and create more jobs.

“I do not believe we will end up with a jobless future, a dystopian jobless future where machines take over humans for everything and humans become upset because technology can replace some tasks,” Wong said.

Wong, who is also the city-state’s finance minister, said what will change is “the nature of jobs in blue and white-collar occupations” and warned that the “pace of change will accelerate; the scale of disruptions will increase with time.” He added, “It can also make us more productive in performing other tasks. And by doing so, it will create new tasks and new jobs.”

On the regulation front, Wong said regulators need to implement “comprehensive support” in the form of job matching and skills development. “This will require concerted and proactive efforts on the part of governments, industry and skills training providers,” Wong said.