g-f(1)13 Exceptional moment: We are reinventing the world in the midst of two disruptions

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Extra-condensed knowledge

We find ourselves at a defining moment: the decisions and choices we make today will determine the course of entire generations’ lives and livelihoods. We have the tools at our disposal. The bounty of technological innovation which defines our current era can be leveraged to unleash human potential. We have the means to reskill and upskill individuals in unprecedented numbers, to deploy precision safety nets which protect displaced workers from destitution, and to create bespoke maps which orient displaced workers towards the jobs of tomorrow where they will be able to thrive. 

• The efforts to support those affected by the current crisis lag behind the speed of disruption.
• The Future of Jobs Report 2020 provides the timely insights needed to orient labour markets and workers towards opportunity today and in the future of work. The report maps the jobs and skills of the future, tracking the pace of change and direction of travel.
• There is room for measured optimism in the data, but supporting workers will require global, regional and national public-private collaboration at an unprecedented scale and speed.
• Human ingenuity is at the root of all shared prosperity. As the frontier between the work tasks performed by humans and those performed by machines and algorithms shifts, we have a short window of opportunity to ensure that these transformations lead to a new age of good work, good jobs and improved quality of life for all. 
• In the midst of the pandemic recession, this window is closing fast. Businesses, governments and workers must plan to work together to implement a new vision for the global workforce.

Genioux knowledge fact condensed as an image.

Condensed knowledge 10

1. After years of growing income inequality, concerns about technology-driven displacement of jobs, and rising societal discord globally, the combined health and economic shocks of 2020 have put economies into freefall, disrupted labour markets and fully revealed the inadequacies of our social contracts. 
2. Millions of individuals globally have lost their livelihoods and millions more are at risk from the global recession, structural change to the economy and further automation. Additionally, the pandemic and the subsequent recession have impacted most those communities which were already at a disadvantage. 
3. The efforts to support those affected by the current crisis lag behind the speed of disruption. It is now urgent to enact a Global Reset towards a socio-economic system that is more fair, sustainable and equitable, one where social mobility is reinvigorated, social cohesion restored, and economic prosperity is compatible with a healthy planet. If this opportunity is missed, we will face lost generations of adults and youth who will be raised into growing inequality, discord and lost potential.
4. The Future of Jobs Report provides the timely insights needed to orient labour markets and workers towards opportunity today and in the future of work. Now in its third edition, the report maps the jobs and skills of the future, tracking the pace of change and direction of travel.
• This year we find that while technology-driven job creation is still expected to outpace job destruction over the next five years, the economic contraction is reducing the rate of growth in the jobs of tomorrow. 
5. There is a renewed urgency to take proactive measures to ease the transition of workers into more sustainable job opportunities.
6. There is room for measured optimism in the data, but supporting workers will require global, regional and national public-private collaboration at an unprecedented scale and speed.
7. The Platform for the New Economy and Society at the World Economic Forum works as a “docking station” for such collaboration on economic growth, revival and transformation; work, wages and job creation; education, skills and learning; and diversity, equity and inclusion.
8. By leveraging this publication and other insights, the Platform supports a range of consortia and action coalitions, including the Reskilling Revolution Initiative to provide better jobs, skills and education to one billion people by 2030.
9. Human ingenuity is at the root of all shared prosperity. As the frontier between the work tasks performed by humans and those performed by machines and algorithms shifts, we have a short window of opportunity to ensure that these transformations lead to a new age of good work, good jobs and improved quality of life for all. 
10. In the midst of the pandemic recession, this window is closing fast. Businesses, governments and workers must plan to work together to implement a new vision for the global workforce.

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Category 1: A new, better world for everyone

[genioux fact extracted from WEF]

Authors of the genioux fact

Fernando Machuca

References

The Future of Jobs Report 2020, Preface, Klaus Schwab and Saadia Zahidi, October 2020. 

ABOUT THE AUTHORS

Klaus Schwab

Professor Klaus Schwab was born in Ravensburg, Germany in 1938. He is Founder and Executive Chairman of the World Economic Forum, the International Organization for Public-Private Cooperation.

He founded the Forum in 1971, the same year in which he published Moderne Unternehmensführung im Maschinenbau (Modern Enterprise Management in Mechanical Engineering). In that book, he argued that the management of a modern enterprise must serve not only shareholders but all stakeholders (die Interessenten), to achieve long-term growth and prosperity.

Schwab has encouraged the establishment of communities providing global expertise and knowledge for problem-solving. Among them is the Network of Global Future Councils, the world’s foremost interdisciplinary knowledge network dedicated to promoting innovative thinking on the future.

The Forum employs over 700 people, with its headquarters in Geneva, Switzerland, and additional offices in New York, San Francisco, Beijing and Tokyo.

An engineer and economist by training, Professor Klaus Schwab holds doctorates in Economics (summa cum laude) from the University of Fribourg, in Engineering from the Swiss Federal Institute of Technology, and a Masters of Public Administration from the Kennedy School of Government at Harvard University.

His latest books are The Fourth Industrial Revolution (2016), a worldwide bestseller translated into 30 languages, and Shaping the Fourth Industrial Revolution (2018).

During the course of his wide-ranging career, Schwab has received numerous honours. He holds 17 honorary doctorates, and national medals of honour, including the Grand Cordon of the Order of the Rising Sun of Japan, the Grand Cross with Star of the National Order of Germany and the Knight of the Légion d’Honneur of France. He was also knighted by Queen Elizabeth II – Knight Commander of the Order of Saint Michael and Saint George (KCMG).

Saadia Zahidi (Twitter, LinkedIn)

Managing Director, World Economic Forum

BA in Economics, Smith College; MPhil in International Economics, Graduate Institute Geneva; MPA, Harvard University. With the World Economic Forum: Economist (2003-2005); Head of Gender Parity Programme (2005-2011); Head of Civil Society (2008-2011); Head of Employment and Gender Initiatives (2013-2016); Head of Education, Gender and Work (2016-2018); currently Head of Centre for the New Economy and Society and Member of the Managing Board. Co-Author of Forum reports on Human Capital, Gender Gaps and Future of Jobs. Author, Fifty Million Rising (2018). Recipient of honours and awards, including: BBC 100 Women (2013 and 2014); Financial Times/McKinsey inaugural Bracken Bower Prize (2014); longlisted for FT/Mckinsey Business Book of the Year (2018). Interests: future of work, education and skills, income inequality and using big data for public good.