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Figures from Statista show that since 2018, 50% has been the baseline rate of the utilization and adoption of high technology among all global industries. Unsurprisingly, the percentage jumps to a whopping 70% since the widespread introduction of accessible Artificial Intelligence (AI). However, one problem remains apparent. According to IBM Canada, while the adoption rate has been high, skill gaps still remain a significant hurdle, with more than 40% of Canadian companies having one manifestation or another of problems relating to keeping the workforce up to speed. This phenomenon, of course, comes from Canada, a developed country, which begs the question: how bad is this situation in the rest of the world, especially the global south? Thus, at Davos 2025, the theme "Industries in the Intelligent Age" becomes one of the central pillars. It will explore not only how technological advancements are reshaping global industries but also introduce challenges such as workforce disruption and the need for a new leadership toolkit.
INDUSTRIES DIGITIZE, BUT WHY CANNOT WE BRIDGE THE GLOBAL JOB GAP YET?
Just concluded last Wednesday, under this key theme was a standout session, "Closing the Jobs Gap," highlighting the urgency of addressing global unemployment. According to the World Economic Forum's own figure, in which there has been technological improvement, nearly a quarter of existing jobs worldwide are at risk of disruption due to automation and digital transformation. As this event was attended by various high-profile figures from governments and the private sectors, such as the CEO of LinkedIn, the Director-General of the International Labour Organization, and the President of Singapore, the discussion was lively and full of energizing ideas. Panelists emphasized that unemployment exacerbates inequalities and hinders economic progress and that there is a mismatch between the skills workers possess and the demands of new job markets, particularly in technology-driven industries. This discussion also sheds light on the disproportionate impact of unemployment on women, youth, and marginalized communities, such as people with disabilities, 2SLGBTQ+, and Indigenous people, emphasizing the need for targeted interventions to close these gaps.
CONCERTED, MULTILATERAL EFFORTS NEEDED
From the “Closing the Jobs Gap” session, experts and dignitaries proposed several actionable strategies to address this issue. The CEOs among the panelists stressed the importance of reskilling and upskilling programs, doubling down on their companies’ initiatives to prepare workers for emerging roles in green and digital economies and how that can serve as examples for governments. Meanwhile, on the policy front, politicians and international organization leaders highlighted the need for government policies that promote high-quality job creation and align education systems with the labor market needs. There was also a call for stronger social protections and collective bargaining to ensure workers’ rights in the face of automation. Lastly, the panel also stressed that it finally boils down to the strength of the collaboration between governments, private companies, and even educational institutions to develop inclusive labor policies that prioritize equity and access to opportunities.
With "Industries in the Intelligent Age" being one of Davos 2025's central themes, it reinforces the notion that industries cannot just "innovate in a vacuum;" they must adopt a people-centered approach to economic transformation. In addition, addressing unemployment requires not only innovation in technology but also robust collaboration across sectors. This emphasizes the importance of prioritizing quality employment and creating opportunities for all, particularly in a time of rapid disruption. As industries navigate the intelligent age, the path forward lies in striking a balance between technological progress and inclusive economic growth and in ensuring that no one is left behind.
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