New technologies provide a pathway to poverty reduction and could usher in a wave of higher productivity and growth across Latin America and the Caribbean, according to a new World Bank report.

At a time of growing fears of a future where automation replaces employees, technological innovation could create more and better jobs in the coming years—for both for skilled and unskilled workers in the region, the report Jobs of Tomorrow: Technology, Productivity, and Prosperity in Latin America and the Caribbean finds.

“We should adopt and promote technology and innovation to boost economic growth, poverty reduction and increase opportunities for all, rather than creating barriers,” said Jorge Familiar, World Bank Vice-President for Latin America and Caribbean. “Better education and training will be key to ensure youth can take full advantage of the digital world and be prepared for the work of tomorrow.”

According to the report, Latin America and the Caribbean has lower rates of digital technology adoption than similar countries in the Organization for Economic Cooperation and Development (OECD), providing ample space to increase productivity. Barriers also often drive up the price of productivity-enhancing technology. For example, smartphones and tablets in some countries in the region are the most expensive in the world. Tariffs and taxes on technology may be holding back per capita GDP growth by more than 1 percentage point a year across the region.

“With more technology comes more productivity,” said report author Mark Dutz, World Bank Lead Economist of the Macroeconomics, Trade and Investment Global Practice. “Companies can lower variable costs, expand production, reach more markets, make more money and in the process create more and better jobs.”