 More power. Good afternoon, everybody, and welcome to this press conference. Welcome to everybody here in the room and on the live stream. The subtle branding in the back might have given it away. You're joining the press conference at the annual meeting of the World Economic Forum in Davos, 2016. The title of this press conference is Educating the Masters of the Fourth Industrial Revolution. And the question we're trying to answer today with an expert panel is, how will the Fourth Industrial Revolution affect the world of jobs, of education, of skills? And to answer that question, I'm joined by an expert panel. Let me start all the way down there at the panel. We're joined by Oma Alganem, the Chief Executive Officer of Alganem Industries, based in Kuwait, who is also a young global leader alumnus. Next to him, we're joined by Jeffrey Juris, who is the Executive Chairman Emeritus of the Manpower Group. And right in the middle of the panel, we are joined by Vishal Sikha, the Chief Executive Officer and Managing Director of Infosys. And to my immediate left is sitting Satya Sahidi, who is the Head of Employment and Gender Initiatives at the World Economic Forum and also a member of its Executive Committee. Without wasting any time, Satya, you just launched the Future of Jobs Report of the World Economic Forum. Share with us what were the key findings. Maybe you have the answer already. How is the Fourth Industrial Revolution changing the world of jobs? Please. So I wish it was a simple black and white answer, but I'm going to try to give you in as short of a way as I can some of the nuances. One, when we started out, we didn't want to look at just technological factors. We also looked at geopolitical factors, socioeconomic factors, others, just to understand how those are interacting with some of the technological changes that are taking place. And the answer is, all of this is multiplying each other. And we're going to have, as a result of all of the business model changes, basically a perfect storm in labor markets. And it's going to all unfold in the next five years. A second area maybe is that job gains, at least in the short term, are not going to be enough to offset the job losses. And so at least according to these numbers or at least according to the expectations of the heads of HR that answered the survey that we sent out, there might be up to 5 million net job losses. Now, this is in the short term. In the long term, there's a lot more opportunity. But that's going to require serious rescaling and changes to education systems. So if you're in college today, you probably want to look at sciences. You probably want to look at ways to collaborate with others. And you probably want to remember that you're going to have to continue to respecialize throughout your lifetime. Even though jobs are shrinking, even though some of these problems are coming up in the next five years, at the same time, companies are finding it much harder to recruit. They are not finding the talent that they are looking for because there is this lack of skills in the economy, in the labor market. That's only going to increase the pressure to automate. And then finally, regardless of the job you're in, you should probably also remember that you're going to have to constantly modify the skill set. So in the next five years, across all jobs, at least 30% of the top skills that are required for that job are going to completely change. So that means a skills churn on average of 30%. And by industry, this can look much higher. And if I have just a couple of seconds for a final point, the threat of automation and the losses of jobs could become a self-fulfilling prophecy, but it doesn't have to. And what that will require is, in the short term, urgent efforts by businesses and by governments to put in place reskilling and upskilling mechanisms. And it will also require fundamental reform to our education systems. Thank you, Sina. Vishal, at Infosys, you are concerned by these developments in two fronts. First, you're very active in the digital transformation of industries, but you're also a big employer of talent from these groups. So how prepared are we for the forced industrial revolution there? So we have been working on that. Infosys, obviously, as you said, is a large employer of talent and a large employer of knowledge work. So digital software, these are the areas that are the core focus for our company. And we employ, we hire every year 35 to 40,000 people in these areas. So as we look at the advance in artificial intelligence and AI technologies and so forth and how this can really have an impact on the workforce of the future, this is an area, obviously, that impacts our business significantly. So working together with, as Saria mentioned, with the World Economic Forum, we conducted our own survey and we have published that today around the education and the skills that are necessary for the workforce of tomorrow. We talked to 9,000 youngsters in more than a dozen countries. And the results are, in some sense, reinforce the values and the principles that we have had, but also are surprising. Kids today are generally optimistic. They are concerned, 40% of them believe that a robot and AI system will take away the job that they see today or that they do today. But surprisingly, they're also not something that they are concerned about because they believe that that will free them up and will create an opportunity for them to do something else. So that has been one of the interesting things. They all talk about, however, their concern around the skills that they need to acquire around the education, around the availability of the jobs, and around, in particular, inclusion, because there is a sense that advanced systems and entrepreneurship and so forth are becoming more and more elite-oriented and applicable to a small percentage of the population. So the bottom line is that the way I see the situation emerging in front of us, yes, it is true that advance of technology has reached a point where intelligent systems can now, for the first time, do knowledge work in a way that we were never able to do before, but that points to a very deep underlying need for three things. One is education. We have to prepare our kids for the world of tomorrow, not the way the world used to be, but the way the world is going to be. We need to create access by better connectivity and better matching of supply and demand, and we need to create a culture of creativity, of imagination, because more and more of the mechanizable, the routine, the jobs that are able to be precisely formulated will be done by artificial intelligence systems, and therefore people have to exercise their creativity, and we need to teach people to innovate at a very large scale, and that is why we here at Infosys have been working on things like this teaching design thinking, we have now taught more than 70,000 people design thinking, and initiatives of that sort are what is necessary, and as Arya mentioned, we need to do this in a great public-private partnership where companies who have great scale have great ability to bring solutions at scale and have the resources to do so can work together with the public organizations that have the purpose, that have the know-how outside the context of the rigors of a day-to-day business to be able to do that. Thank you very much. Over to you, Jeff. At Manpower Group, I imagine a lot of the companies here in Davos are working with you to manage their workforce, to manage their workforce strategy and to find talent. I sense from Saadi and Vishal a cautious optimism, how well-prepared are we, and what can be done to equip people with the right skills for the fourth industrial revolution? I think it's important to note that what Saadi had talked about in the fourth industrial revolution is that there is going to be a longer gap between when somebody loses their job and when somebody will regain their job than in previous kind of revolutions or evolutions. And that is going to put a tremendous amount of stress on individuals, on society, and on businesses. So when you look at the report, it gives us a sense of call to action and urgency. And one of the kinds of directions that you are tempted to take is to try to solve the entire problem with one big bite. And what we have seen in our organization is you can't do that. You can still do federal things. You can still do national things. Those are important. But what's most important is connecting at a local level where action can be taken. So when we look at our organization and our clients, yes, they have major statements that they may want to do across the world. And it gets modified or it gets localized, which is where you find those people the jobs. So this really becomes a tension and a conundrum between what is national, federal, and what is local and can get the job done. So the sense of urgency has to be to create this action at the ground floor. When we look at apprenticeships, apprenticeships are talked about so often. The German model, the Austria model, they're fantastic. You can't just lift those and put those in other places. It will not work. However, apprenticeship at a concept, when done locally, when done with the local government, when done in partnership, starts to create and have jobs. This gap in transition is gonna be the most dangerous thing for society because people are going to get out of the flow of work. That goes to education. That goes to creativity. Our view as a company and what we tried to do is to get people right back into some type of job to get back into the flow. Because if you're not in the flow and you step out at the rate of change, to get back in is nearly impossible. And we can't lose generations like we've lost in the youth issue that we've had in the downturn in Europe and in other places. So when we look at the report, when we look at it, it's about local, it's about action, and it's about making sure that we have this sense of urgency to minimize this absolute disruption that's gonna happen during this transition from one kind of revolution to another revolution. Thank you, Jeff. Omar, I introduce you as the CEO of Agam in the industry, but you also have a role in the forum's new vision for Arab employment. And I understand you have an announcement for us. So I'm very excited to hear from you. Thank you. So the future of jobs is a topic of huge global importance. And I'm delighted that we're dedicating time and energy to it at this year's World Economic Forum. Thomas Friedman has argued that we are today at the most important technological inflection point since Gutenberg invented printing press. Friedman's basic insight is this. We have vastly more data and computing power than any generation before us. And in the years ahead, computers will play a central role in every aspect of our lives. So what does this mean? In essence, it means that the world is changing fast and that we have a responsibility like never before to prepare our young people for that world and that our ambition of creating jobs of the future will grow in complexity with every passing year. According to the International Labor Organization, roughly two in five young people around the world are either unemployed or are working but below the poverty line. As a citizen of the Gulf, I know the scale of the challenges that we face. To help you understand the challenge in my own region, consider this statistic. To meet local employment demands, the MUNA region will have to create 80 million new jobs over the next two decades. 80 million new jobs. In a region where such a high proportion of the population is young and where the public sector still dominates, that target looks all the more challenging. We've learned that there's no silver bullet for solving youth unemployment. It requires a long-term solution, a combination of education, vocational training, effective career advice, and a buoyant private sector, amongst other things. In the MUNA, for example, we need to create the right education system which gives our young people the skills and critical thinking to become entrepreneurs. In JAWS, an organization of proud support is a great example of NGO doing exactly that. Easier said than done, but our overriding priority must be to develop our budding entrepreneurs better with mentoring, peer-group support, and management training. As part of the WEF's new vision for Arab employment, we have over 100,000 youth that the private sector has taken on to skill and to train, and we're hoping to take that goal even further going forward. Part of this is about creating a benign environment. For example, the people we spoke to in the MUNA region as a part of a recent survey told us the number one barrier people face in starting a new business isn't a lack of finance or opportunity, but it's government regulation. But it's also about mindset. The same survey found that even if guaranteed success, more than 40% respondents with advanced degrees said they would start a retail company, a cafe, or a real estate company. Only 6% said they would start an information technology company. I don't want to deride these choices. We all applaud business startups, but restaurants, retail, and real estate alone won't deliver regional economic success. We don't need everyone to be Elon Musk, but we do need our young people to have courage and imagination. That's why it's essential we also design education systems which encourage critical thinking, creativity, and entrepreneurship. Another key barrier to job creation in the MUNA region is gender inequality. Achieving gender parity will make the world a richer place in many different ways for everyone. IMF statistics suggest that the Middle East gender cap is three times larger than in most developing economies. The same statistics suggest that if the gap was narrowed by just one third, the GDP of the MUNA region would grow by a trillion dollars or a 6% growth in GDP. It's not all bad, and there are some reasons for optimism. At my company, Agonium Industries, we have a diversity inclusion steering committee that focuses specifically on these sorts of issues. To make our culture more appealing to women, we have increased our maternity leave benefits, we're changing our recruitment policies to encourage the hiring and retaining of more women. The plain fact is that creating a mean economy of the future will depend on bringing women into the workforce, and I look forward to hearing about efforts of others in the region as well. We know there are many things we can do to support young people into work, and we know that there's much more governments that businesses can do to empower the entrepreneurs of the future. The commitment of government and business leaders across the region is essential. We have to expand or create job training and upskilling programs in each and every corner of MUNA. And as always, education remains crucial. People will need to be more creative, collaborative and empathetic. After all, these are the traits of computer's lack. Grit, persistence, and the ability to learn and adapt, constantly in the face of nonstop competition, these will all be essential. Finally, every student must have the opportunity to become an entrepreneur. Graduates need to be innovation ready, not just university ready. Graduates of the future will need to create their own jobs, not just apply for them. This is a formidable challenge and not one government can tackle alone. The effort will require collaboration, perhaps at an unprecedented scale between governments and business leaders like us. The WEF report on the future of jobs will be an exceptionally useful tool for helping us to do exactly that. And I congratulate the authors on their work. I look forward to discussing these issues over the next few days and I hope we can begin addressing these urgent challenges. Thank you very much, Omar. Now, you've all proven that you're aware of the challenges on this topic and that you're working on it. You're forefront of the research there. Let me ask a quick question. Do you have the sense that your fellow business leaders and the public figures here, we have more than 40 heads of state of government here, do they share that awareness for the topic? I'll just put you on the spot to answer that. My, maybe I can start. My sense is that we are, we don't see the longer-term bigger picture as much as we should and the near-term urgent burning fires in front of us take more of our attention. That's the sense that I get as I talk to other business leaders and public sector leaders, certainly over the last day here at WEF, but in general as well. It is true that, and as you mentioned, the near-term challenges around displacement of jobs and so forth takes up a lot of our attention. But at the same time, when we look really at the underlying issues, it is very clear that education is something that has to be emphasized. It is very clear that a much larger, untapped human potential that is there, that we are not, because of lack of inclusion and diversity, that that needs to be brought in. It is clear that we see, every time we see an entrepreneur succeeding, we see that what needs to happen, what the right model needs to be. And yet, my sense is that we don't emphasize these areas nearly enough. Thank you. I would add that what we're finding is, is that we've had talent shortages before, we've had disruptions before. So what happens is, chief executive officers, government officials kind of say, well, it's been figured out before, it'll be figured out this time. But I think what we need to be focusing on is this report shows us something that is a different paradigm. So we cannot take incremental kind of decisions on a system that is antiquated, whether it be the education system, whether it be the getting the job systems, the assessment systems. So here in Lies where there is a face reality moment to take courage to say, we just can't tweak a 50 year old system to solve this next gap of challenge because it's coming on us in a very different way. And that's where I believe we have to shout more, we have to be louder about it, and we have to get attention, as you said, of these leaders here that says, it's just not going to be done like it was before. And there's nothing more satisfying for a CEO to think somebody else is gonna solve it so I don't have to pay attention to it. And in this case, the CEO, the government officials have to say, we have to break down the antiquated systems to minimize the impact of this very difficult transition that's gonna happen in the jobs market. Thank you very much, Jeff. Omar, do you wanna add to that? Yeah, I think if you, we're all gathered here in Davos to be able to take a look at where 2016 is heading. And we're all leaders, politicians, and supposed to be looking at the real challenges that we're facing. And as you said, we've been in disjointments before in the job market. But I think if you look at the rate, in the last 10 years I've been coming to Davos, I think the devices that all of you guys are holding in your hands now, and the type of technology we have, it's a very different world. And the rate of change is increasing, increasing exponentially. So the urgency to fix a problem is becoming even greater and greater. So providing the empathy, the ability to be able to work with other people, and what made somebody successful in a job 10 years ago, the same things may make them actually unsuccessful in a job now, given computing power, given Watson in hospitals. I mean, before you wanted a doctor who had the knowledge about what different illnesses you had, now you want a doctor who's very good at querying Watson and understanding how best to get information out of there. Those are two very different skill sets. And I think the same thing applies to a multitude of different industries. So I think that we really have to instill a sense of urgency and making sure that we really drive change. Because if not, I think we're gonna see, there's been much talk about the top 1% and how much the wealth disparity is in the world. And I think that wealth disparity is only gonna increase if we don't address this. If you look at middle-skilled middle-class jobs, which is a backbone of every developed economy, 50% of those are going away in the next 10 years. So either those guys need to upskill or they're gonna downskill because those jobs are no longer gonna be available. And so this whole, I think, has socioeconomic issues. And then the top 1% won't have anybody to sell anything to because the consumer market's gonna go away. So really I think this is a profound issue and one that really needs to be dealt with with a great sense of urgency with all the companies attending, with all the respective governments attending. Because if we don't, I think we're gonna see challenges and shifts happening in our part of the world, in my part of the world. We have the Arab Spring and I think that'll be the first of many if we don't address these issues. And I would suggest that desperation is really the enemy of action. And why get to the point where you are desperate when we're at the point where we're urgent? Because urgency, you can create action out of it. When you pass this urgency, it gets into desperation. You have no action left anymore. No action left. And that's where I think we don't wanna cry wolf but we wanna be able to emphasize this enough that we have this window that we can still operate in and if this window closes on us, it becomes desperate. And when you become desperate, as governments, as businesses, action almost becomes paralyzed at that point. And I think also what's gonna happen is when you get desperate, people are gonna find, are gonna trace more pressure on technology to find solutions and put more and more people out of work. And accelerate them. Because the skill gap is gonna be that wide that the delta between what AI can do and what a human can do is gonna become wider and wider. And your ability to be able to cross that gap is only gonna become larger. So I think the sooner we deal with this, the better chance we have of having inclusive economies that where people can be happy and we can have stability. Thank you. That's right a powerful call for action right there. Sadia, we open with you. I wanna give you the chance to close this panel mindful of the time that our panelists. Just maybe a couple of areas of where that change could come from. I think first, the fact that we're sitting here talking about the predictions of what millennials want. We're talking about what the demand side wants. The fact is we have the data available for us and we can do that in a very customized, targeted, sector specific kind of way. So we have the information we need to be able to make these kinds of changes, to be able to create the kinds of collaborations that will drive change. And second, there are actually a lot of opportunities too. I mean, we're still going to need bricks and mortar schools. And so the teachers job category is one that is going to be growing. There's going to be a need for the kinds of disruptions that we've seen through Uber and Airbnb and other models that will need to be applied to public services like education. And so there's a lot of opportunity in that space as well. Thank you very much. Can I get a quick sense if there's any questions on the floor? I think we answered all questions. Then because I know you all have a very packed schedule. So carry that message to your fellow Davos participants. Thank you very much for joining the panel. And thank you for watching. Thank you everybody.