The future of work and skills: Global megatrends and implications for Ireland Dublin, November 7 Saadia Zahidi Managing Director World Economic Forum
The World Economic Forum The World Economic Forum is the International Organization for Public- Private Cooperation. Our mission is to improve the state of the world. Over 100+ projects Our purpose is to bring together stakeholders from all sectors of society to shape the future. TopLink, Reports and Transformation Maps Governments, businesses or civil More than 50 society alone cannot sustainably communities address the economic, technological, environmental and social challenges Annual and regional meetings of an increasingly complex, interdependent and fast-transforming world. Instead, they need to work together via a trusted global platform for 1971 2019 Convening communities Generating projects informed collaboration and cooperation. Building multistakeholder Developing knowledge Becoming the platform and communities operating system for global cooperation Over the past 50 years, the World Economic Forum has earned the trust to build and curate impartial and independent platforms.
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How we drive impact Addressing Providing Collaborating Interconnected Challenges a Transformative Activity Portfolio through a Platform Model Growth and Competitiveness Equality and Inclusion IMPACT Education, Skills and Work 4
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The arrival of the Fourth Industrial Revolution Intended technology adoption by global companies in 2022 6
A shift in the ratio of human vs machine work hours, 2018-2022 7 Source: Future of Jobs Report, 2018, World Economic Forum.
A net positive outlook for jobs but high levels of churn 2018-2022 8 Source: Future of Jobs Report, 2018, World Economic Forum.
A premium on soft skills and advanced cognitive skills 9 Source: Future of Jobs Report, 2018, World Economic Forum.
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A reskilling revolution is needed By 2022, the core skills required to perform most roles will change by 42% 11 Source: Future of Jobs Report, 2018, World Economic Forum.
New data-driven approaches are available Example: Secretaries and administrative assistants 12 Source: Towards a Reskilling Revolution, 2019, World Economic Forum.
Collaboration at scale is needed • Transitioning 95% Companies alone Governments alone of at-risk workers in the United States into new jobs through reskilling 25% 77% may cost more than $34 billion . • If companies and governments go it alone the costs outweigh the benefits for a significant portion of workers. If they Industry collaboration Public-private collaboration collaborate costs become viable. 45% 90% 13 Source: Towards a Reskilling Revolution, 2019, World Economic Forum.
Learning 4.0 MECHANISMS CONTENT 14
Skills score Ireland – Global Competitiveness Report 2019 79 Extent of staff training 66,3 90,8 Quality of vocational training 64,1 81,4 Skillset of graduates 68 80,5 Digital skills among active population 66,5 72,1 Ease of finding skilled employees 62 76,4 Critical thinking in teaching 51,1 0 10 20 30 40 50 60 70 80 90 100 Highest score Ireland 15 Source: Global Competitiveness Report, 2019, World Economic Forum
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The Forum’s Closing the Skills Gap Accelerator model Rather than creating a conventional “project”, the accelerator model aims at enabling collective action for accelerating systems change “Accelerating systems change”: By bringing stakeholders together Exponential with a concerted focus on specific improvements “leverage points”, the accelerator model aims to break through inhibiting path dependencies, shifting the functioning of the whole system to an exponentially better state “Project mindset”: Fixing incremental problems 17
Key leverage points for closing skills gaps The accelerator model focuses on “leverage points” across four dimensions of the system: • Lifelong learning and upskilling • Future-readiness and employability • Innovative skills funding models • Skills anticipation and job market insight 18
Global Learning Network Closing the Skills Gap Accelerators are part of a global learning network for co-creating solutions through the World Economic Forum’s platform Closing the Skills Gap Accelerators Invited Global Knowledge Partners 19
Contact: Saadia Zahidi Managing Director World Economic Forum saadia.zahidi@weforum.org
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