Strategic Outlook on Digital Economy and Society from WEF

The importance of this topic was emphasized by one of the panellist quoting that 7 of 10 most valuable companies in the world is Tech Company. And every industry and working group at World Economic Forum has a stream on digital disruption.

What are the challenges and issues of digital economy today?

  • Require new sets of partnership in the industry between competitors, for profit and non-profit, and public and private.
  • Needed to change the narrative of technology to be more inclusive, to educate people how to see opportunities more and less threat in technology advancement for example blue colour workers are less associated with technology.
  • Tackle the security and trust issues, privacy and cross data management agenda. Who owns our personal digital data? How data is being monetized?
  • Create the case for investments in opportunities, which is there, but need a framework.
  • Cyber risk is one of biggest challenges as ongoing enhancing sophistication of technology is make it very difficult to combat it, therefore, collaboration needed more, as every second there is a cyber-attack.
  • There is shortage of tech skills around the world, and how to keep tech skills relevant going forward, otherwise, we won’t be able to tackle the challenges and opportunities, and we won’t be able to embrace the advantage of AI and so on.
  • How to use technology for the benefits and not for the detriments of people, not to make the world more fractured, therefore, it is important to organise a dialogue between public and private.
  • How to turn soft policies into regulations.
  • Importance of-openly talking about the impact of social media, what kind of risks it’s have on younger generation.
  • Mindset shift is required in the labour market to see more potentials in age of 45+ people.

As a leader what is your number one tech related issue on your agenda?

How will you ensure that your people can keep their tech related skills relevant?

How do you intend to protect your child from the negative impact of social media?

 

Sources: https://www.weforum.org/events/world-economic-forum-annual-meeting-2018/sessions/strategic-outlook-the-digital-economy




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