As we race toward the fourth industrial revolution there will inevitably be tensions between public, private and individual interests. But these should be challenged, rather than shied away from, to minimize displacement, panelists at the World Economic Forum's "Summer Davos" agreed on Thursday.

"The tension between the private sector and the public sector and civil society and each of us individually is a good tension to have," Lauren Woodman, chief executive of NetHope, a consortium of NGO's with a specific focus on technology, as panellists debated the responsibility of government and private business to manage technological advancements.

Private business has faced criticism for the speed at which it has embraced automation, while public bodies are under growing pressure to manage this change in order to safeguard jobs.

"It means that the benefits (of technology) do surface to the top," Woodman told a CNBC panel in Dalian, China.

"Even the process of recognising that there is a gap, and that we have to struggle against that problem, means that we are at least beginning to bring those voices in."

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Technological development will cause tension - and it's a good thing, say 'Summer Davos' execs - CNBC