World Economic Forum 2023 – 4 Takeaways

4 takeaways from #wef23  held in January 2023.

An interesting experience during the pandemic has been the opportunity to watch the livestreaming of global summits, including the WEF 2023 at Davos last month.

Am sharing some of the topics and learnings.
Source credit: The Adecco Group

Upskilling & Reskilling are major challenges that Companies must address.

Scarcity of the right talent globally is worrisome.

Corporates as well as public sector will need to collaborate to make the future of #work  for all.

4 Key Takeaways stood out from the week long discussions on the Future of Work.

1.  Put People at the core
–  Focus on human centricity as most crucial asset to solve challenges across the globe.
–  Consider people as investment, not a cost.
–   Create environments where people can thrive.
–   Caring & Empathy are critical #leadership traits.

2. #skills  are the new currency.
–   We are seeing a severe skills shortage globally.
– 77% of workers don’t feel like they have skills for the future.
– Future-proofing of skills is Not the solution. (This one surprised me at first glance.)
–  It’s creating agile workers who have opportunities for life long learning.
– Traditional education system needs review.
– Allen Blue, Co-founder of #linkedin
encouraged employers to look beyond degrees to open up the talent pool.
– Leaders will need to act as Coaches to identify potential & motivations.

3. Technology  to nurture skills,
not to replace them.
–   AI, AR, VR can help upskilling at speed & volume and shortcut training cycles.
–   Data, Tech and People need to be fully leveraged.
–   Only 5% of organizations do this effectively today.

4. The Future must work for Everyone
–    Fragmentation is everywhere and work is no exception. (A Fragmented Reality?)
–    Green skills for example are found in the most developed countries.
–   Around 3 billion people globally are still on  the wrong side of the digital divide.
–   There are also generational & gender gaps.
–   As one of the speakers put it: ‘The major challenge that we as a society are facing today is inequality confessed.’
–   Technology is going to destroy millions of jobs and create millions of jobs.
–   If we don’t handle this transition in the right manner,  we could be dealing with social unrest.
–   While we are all in the same storm, we are not in the same boat.
–   Diversity, Equity & Inclusion can no longer be a check box exercise in 2023.

The above are certainly not new insights. It is also to be seen how these will pan out at the grassroots local level of individual organisations and countries

Without getting into that debate, I would welcome your perspectives on the above issues.
Please share your views in the comments.

#skillgrill #technology #leadership
#futureofwork #dei #ai #career #coaching #jobs World Economic Forum