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election. I think we’re going to see a lot of pressure on mid-level white collar jobs over the next couple of decades as AI picks up. And those functions will have to be rethought in terms of how those individuals and skill sets get transformed. But, at the end of the day, we have to be careful as a society, not to have those affected groups feel displaced by the technology advancement. We have to have policies that make them feel that they’re still part of a happy, advancing world.▶Mr. Kanda：　And another stu with the -nancial, more traditional question. As you know, we advocated at G20 and the FSB for the comprehensive assessment of the combined effects, particularly unintended consequences against economic growth, of the various inter-national nancial regulations introduced since the international nancial crisis, and, though I was isolated in the international negotiations at the outset, now it has become one of the main-stream work streams of the FSB. We successful-ly requested to clarify regulatory expectations at FATF as well. How do you evaluate the on-going discussion on international nancial reg-ulation including Basel III?▷Mr. Kindred：　I have some concerns. I think that there was a very admirable commit-ment to harmonization coming out of the G20 Pittsburg Summit in 2009 and there were a number of very important initiatives that were implemented in the aftermath of that and those are very good for the nancial system. But I do think that, in the past several years, there has been some movement away from harmoniza-tion and some level of potential discord or pol-icy deviations. And, to some degree, the amount of continuing regulatory implementa-tion got duplicative and overly burdensome. And I think that the voice of the JFSA has been very reasonable and quite influential, in my mind, in causing some reconsideration of that. And I commend the FSA led by Commis-sioner Mori who did a lot of good work, I know, on really putting forward the viewpoint that, “Hey, we need to just take a pause here and look at how does all this t together. And how do we get to an appropriate balance be-tween systemic stability and nancial interme-diation that encourages growth? What is the right balance between consumer protection and consumer benefit? What’s the right bal-ance between market integrity and transparen-cy and market vigor?”And we need to think about how all these new regulations and work streams of potential new regulations t into that framework. That’s the work I believe needs to be done and, hope-fully, all of the major global regulators will re-harmonize on the next steps. Because, as global institutions, we feel that we need to be able to work on equal footing in dierent glob-al jurisdictions.Prospects of Japanese nancial industry▶Mr. Kanda：　Moving on to Japanese nan-cial industry, I’m glad to see you are now an active member of the Experts Council of the Tokyo Metropolitan Government （TMG） for the international nancial hub. The concept of the Tokyo international financial center was first made public in 2013, the rst recommendations made by the Panel of vitalizing Financial and Capital Markets, where I was a task manager of the Joint Secretariat of MOF and FSA. There-fore, I’m pretty interested in this development. It released three sets of recommendations of concrete policies, incorporating three categories of short, medium and long-termed targets, in four areas of, 1) establishing a positive cycle in which abundant nancial assets held by house-holds and public pensions are allocated more to funding growing businesses (NISA, GPIF re-form etc.), 2) realizing Asia’s growth potential and improving market function in the Asian re-gion, (Innovation of financial infrastructures, etc.), 3) Strengthening corporate competitive-40ファイナンス　2017.7連 載｜超有識者場外ヒアリング