More than 400 leaders convened in Geneva, Switzerland at the World Economic Forum’s headquarters, to participate in the Growth Summit and explore the changing landscape of growth and its prospects. The conference encompassed a range of themes anticipated to impact growth in the near future, including geo-economics, technology, and sustainable growth.
“Economic growth is necessary, but it’s not an end in itself. The key question is, what kind of growth do we want? The answer is, it must be resilient, equitable, and sustainable growth,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum (WEF).
Future of jobs
The Forum released new data on the economic outlook and the future of jobs.
The Future of Jobs Report predicts that 23% of all jobs will be disrupted in the next four years. Green investments are expected to create new jobs, while weak economic growth, supply shortages, and high inflation pose risks to job growth. The impact of AI on job growth was widely debated, with varying views on its potential to displace or augment workers in different professions.
Read more: Economists divided over global economic recovery in 2023
A key element in the new agenda for growth is the need for significant investment in skills in both advanced and emerging economies to build competitiveness and to prepare workers for the jobs of the future.
Diversity and inclusion
Leaders also emphasized the importance of diversity and inclusion as a channel to both promote equity and to accelerate growth and innovation.
The key focus was on inclusive, resilient, and sustainable growth, with a push for greater integration of other priorities such as reducing inequality, tackling the climate crisis, and managing disruptive power of new technologies.
The importance of significant investment in skills and diversity and inclusion were also emphasized.
Moreover, over 20 high-impact initiatives were advanced at the summit, with a focus on educating, reskilling and upskilling workers for the future of jobs.
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