 Hello and welcome to our briefing on the Future of Jobs Report 2023. I'm Kirsten Zyer from the World Economic Forum and I'm joined by an esteemed panel to discuss the future of jobs in an age of economic uncertainty, advancing AI and the green transition. We will be discussing this evolving and shifting jobs and skills landscape and making proposals for how people, employers and governments can come together to prepare for the future of work. It is my great pleasure to introduce our panelists. We have Sadia Zahidi, Managing Director at the World Economic Forum, Sudu Kedav, Global Public Policy at LinkedIn, Svenya Guddel, our Chief Economist at Indeed and Shravan Goli, Chief Operating Officer at Coursera. Welcome and thank you so much for being here today and for your collaboration on the report. Sadia, if you could please start us off with some of the key findings of the report and what they mean for people around the world. That's great. Thank you. Thank you, Kirsten. And also thank you to the partners that collaborated with us on the data and also to the very extensive team at the World Economic Forum that put this report together. First off, let me just say a little bit about how this report is constructed. So we gathered the views of hundreds of heads of HR, heads of strategy and CEOs of companies and tried to understand that these people that are really at the front lines of making decisions about the future of jobs, about where to invest, about what all these global trends actually mean for the workplace. What are they really thinking about what the future of jobs will look like over the next five years? And then we combined that with a lot of hard data as well as data from our partners and what they're able to tell us in very specific areas. So that's what we try to do and overall what that captures is about 673 million workers in the workforce and we're able to say a little bit about where things might be headed. We also try not to limit ourselves with looking to just technology trends. So we actually look at some other macro trends. We look at the green transition. We look at shifting supply chains and we try to understand what these things together, what that's going to lead to. Now one key finding, that combination of trends together is going to disrupt about a quarter of jobs that currently exist. So 23% of jobs will be disrupted in some form or the other. But the key word there is disruption and just a little over a half will be declining and just a little under half will be actually growing. And so overall the picture is yes complex, yes affected by many trends but also something that seems manageable provided that we focus on the reskilling and upskilling of workers. So that's one key point. Let me just say a little bit more. Not surprisingly given where we are today relative to the current number of jobs there's a specific set that are rising and a specific set that are declining. So for example, AI specialists will be in high demand. Big data specialists will be in high demand. Sustainability specialists and environmental protection specialists and business analysts will be in high demand relative to where they are today. But when we look at the absolute number of jobs that will be created and what will be growing, actually those tend to be in sectors like for example agriculture or education. So agriculture is expected to create four million new jobs. Education is expected to create three million new jobs. Green jobs roughly speaking, about a million more of those. So that's where some of the growth will come from. And then finally in terms of the declining side perhaps unsurprisingly these are roles that are at the lower skilled end of the white collar workforce and are now getting disrupted by technology. So for example, those that are bank tellers, people who are working as administrative assistants or as secretaries, those are likely to be the roles that will be the most disrupted. And I will stop there Kirsten and pass it back to you. Disruptions a key theme here in the findings and I'd like to go to you Sue from the data from LinkedIn what have been some of the trends you've seen in labor markets and in particular let's look at the opportunities. What are some of the fastest growing roles? With nearly a billion members across the globe, LinkedIn has this truly unique view of the world's labor markets and the trends that we see are very consistent with what's set out in today's report and with what Sadiah has just set out. We have seen enormous disruption in the world's labor markets over the past number of years, not least throughout the pandemic. And we continue to see them change at this unprecedented rate. And it's those twin transitions of digital and of green that are the two biggest drivers of change and of job growth on our platform. Fully 40 of the top 100 fastest growing roles on our platform over the past five years have fallen into those two categories. First, that digital transition continues year after year to push those digital roles to the forefront. Just in the past 12 months we see roles like cybersecurity engineers, business analytics managers and AI engineers really coming through strongly with a particular surge in generative AI. So just in the past 12 months, we have seen jobs mentioning GPT surge over 50% in that period. The second very clear trend, the future of work is green. The company's surveyed for today's report said it loud and clear and we see that coming through just as strongly on our platform. Hiring for green jobs is outpaced hiring generally for four straight years in a row now and three of the fastest of the 10 fastest growing roles on our platform over that period are core green jobs. And while we see this tremendous growth in those core green jobs, there is an even bigger transformation happening in the broader economy. Traditional jobs, not green jobs per se, not in the green sector, those jobs are going green too. Over the past five years, jobs requiring green skills have grown 8% every year. And the vast majority of that growth is coming for jobs again, not traditionally thought of as green, some of the ones most in demand, jobs like fleet managers, data scientists and health workers. And while we see workers responding to that demand, so the share of green talent on our platform is up 40% since 2015, we are nowhere near where we need to be to meet the scale and the speed of the demand that's coming our way. Today, 13% of the workforce has green skills. That means seven out of every eight workers has no green skills. And that means we need to start investing now and heavily to put the reskilling and upskilling programs in place that are going to equip workers with those green skills that we're going to need if we're going to meet this climate challenge. Thank you, Sue. So we've been talking about digital jobs, green jobs. I can turn to you, Svenja. What are social jobs and what role are social jobs in this shifting labor landscape? Certainly. Yeah, so when we looked at social jobs, we really considered three large categories, care, education and health care. And we really tried to dig in there and we saw some really interesting trends. Looking at indeed data, we have job postings in many different countries and we looked at 20 plus countries and really tried to see what are the trends coming out of the pandemic, even during the pandemic and then coming out of the pandemic. And interestingly enough, the initial growth that we saw in a lot of these social jobs, particularly in health care, extreme booming in terms of demand. So postings in a lot of countries for these types of jobs were up. And then we didn't see as much of a coming down of those jobs. So a lot of job postings still require or still listed for these care workers, health care, education and on the care side, you know, it could be child care. So still a lot of daycare type of jobs or elderly care jobs. And, you know, when you look at a job like a software developer, their demand for that type of person is back to pre-pandemic levels. But for these social jobs, we're finding the demand is still quite elevated compared to pre-pandemic levels. And we do expect that to stay with us as, you know, we're an aging population in the US and a lot of other industrialized countries. And that's going to require a whole lot of care jobs and of course social jobs, particularly as we think about reskilling and what type of jobs the future holds for us. And then interestingly enough, despite that heavy demand for these types of jobs, the amount of time it actually takes to fill these jobs is quite high. So looking across the board, none of these social jobs are among the fastest to fill. You know, oftentimes it takes, you know, two, three times as long as the typical job to fill one of these social jobs. And that, and of course, their wages aren't always the highest either. So I think we've quite some work to do on that front, looking into the future to make sure these are good jobs, paid well. And as an employer, you're able to fill them relatively quickly to meet your needs. Thanks, Anjad. That brings us to a theme that's been in all of our discussions so far underpinning this, which is the need for the skills that lead to these jobs. Shirvan, if you could tell us a little bit more about this skills gap. The report found that the greatest barrier to business transformation is the skills gap. What is Coursera's data revealed about how we close that gap? Sure. First of all, Coursera is honored to partner with World Economic Forum and the esteemed partners here to work on this report, so we appreciate the opportunity. So when I think about the specific question around the skills, in general I think while people without college degrees have been most impacted by these labor market disruptions, an interesting finding that we uncovered through Coursera data is that learners without college degrees are able to learn these critical skills required for some of these jobs to the future in about the same timeframe as those with the degrees. So this is based on the learning data that we're observing, especially as it relates to these entry-level professional certificates that we have on our platform. And so to me, I think this unlocks a massive opportunity because now you can actually really focus on skills-based training and then also skills-based hiring to a large population of people that are getting disrupted. And so specifically when I think about the call to action is the coordination that needs to happen between the private and public sector to really focus on creating pathways because it doesn't have to be a degree anymore. So you can start with a microcredential. This is what we're observing. And you can start getting into a job and then ultimately continue to build on that career and advance in your career. So if the industry can work together to build these pathways, that would be great. Secondly, I think we also see a great opportunity between governments and higher education institutions to partner on the same. So instead of just saying it's only start with a degree, you start with a microcredential and create a stackable pathway through the academic programs. That's on one side of the equation. But the other side of the equation is to actually, when I think about what degree teaches you, it's the breadth of the skills. But these microcredentials actually give you the specific skills required to do a specific job. So if you can actually combine these two, you're complimenting what learners are learning even in these academic institutions, right? And then the third piece to me, I think is around the skills-based hiring. So businesses can now truly embrace skills-based hiring. When you think about the data that you're pointing about is the gap in terms of the available talent, which is a supply. And in terms of the gap, in terms of what these companies need to hire and be competitive in the marketplace, it's huge. So if you can become more of a skills-first organization to start with skills-first hiring into these entry-level jobs and then continue to invest in up-skilling these populations so you can actually create a continued pathway for these individuals to get onto bigger jobs in their firms. Thank you. I think I'd like to take us back a step to the broader theme that we're here discussing at the summit, which is, of course, jobs and opportunities for all. Another one of the findings of the report saw that these economic shifts that we're experiencing are not always equal, both within different segments of the population, different education levels, and different economies around the world. Sadia, could you speak a bit to how do we create inclusive jobs and opportunities for all? Sure. A couple of things there. One of the questions we asked companies was how much they plan to invest in diversity, equity, and inclusion programs, and why? And one piece that's very clear is that most companies now see that the value of DEI is one, of course, the social outcomes it creates, but also they need the talent and they need to be thinking very differently about getting that talent from parts of the population that they traditionally wouldn't have thought of. So for example, 70% of companies were planning to focus primarily on gender parity, primarily on women. About 60-ish percent, just over 60% were planning to focus on youth, and just over 50% were planning to focus on those with disabilities, and then there were smaller segments of those companies that were looking at other forms of diversity. A second element there is this skills-first approach, and we actually launched another report today in collaboration with PWC. And what we found there is that if companies were to take a skills-first approach and look at that mismatched population where the degree that they have studied for or the certification that they have doesn't actually reflect their real skill set, there could be a win of over 100 million people whose skills could be much better deployed in the workforce. And those are the ways in which companies are going to have to think about diversity and ensuring that inclusion is a big part of the future of work, looking at the actual skills and not at poorer signals for skills, which are often degrees or your previous experience, and second, looking at parts of the population that they traditionally would not have looked at. And this applies, of course, very obviously to advanced economies that have very tight labor markets, but equally so applies to developing countries that many of which are in sort of a stalling of growth at present, and they're going to need innovation and creativity and ideas from all parts of the workforce if they're going to grow again. So for all those reasons, I think diversity and inclusion will have to be key for the future of growth. Thank you, Sadia. Let's now open it up to questions from our audience. If you could please just share your name and your organization. Hello, Julia Hobsbaw. I write the Working Assumptions column for Bloomberg, and I run the Nowhere Office Research Project. Really very, very interesting. Suzanne, I had a particular question for you really about the impact this is having on employee confidence and the levels of churn you're seeing in relation to what people assume job stability or job movement needs to be. Are people applying for more jobs, less jobs, different jobs, as well as the, you know, are they aware that they need to get green, or are they just feeling that their jobs are actually a little bit imperiled? One of the really fundamental shifts that happened during the pandemic was what we saw workers asking themselves was not just questions that the pandemic put in front of all of us, which is where do I work and how do I work, but also why do I work? And we saw this real shift, particularly amongst younger workers, to focus on the purpose of work. And green is right at the heart of that. They are highly motivated to work for companies, to work for organizations, and to find companies themselves that prioritize the environment. We completed a survey just in the last couple of weeks of European workers, and over one in four workers across Europe say that their number one non-negotiable when choosing a company are the green credentials of that organization. So the appetite is there, the willingness to upskill and reskill is there, the pressure on companies to show that they are taking their green commitments extremely clear is there. Our job is to accelerate this transition and to put these reskilling programs in place to make sure we're getting those workers the right skills to do those jobs in a more sustainable way. If I can weigh in on that. We also, for a joint report that indeed did with its sister company, Glassdoor, looked at how important DEI was to employees, and you could split that data by race, by are you married or not married, or whatever categorization you choose, the one that was most important was age. And we really found that particularly younger workers have a strong preference and make decisions. So they choose to either accept an offer or not even apply to a particular job based on how strong of a DEI presence a company has in the very fiber of that company. So do they have a diverse management or a set of managers or the executive suite? How diverse are they? Do they care about in their decision making who they hire? Do they have certain rules when it comes to hiring around DEI? So all these things were particularly important for the workforce of tomorrow, if you will. And so I think it's not only necessary from the employer side of things, but also for the employee, not only green jobs matter, but I think being socially conscious in general really matters. If I could just add to that, I think on top of it, when you're thinking, the question you're asking is ultimately, are you able to retain the talent and are you able to attract them and also keep them? I think one of the most recent reports from Deloitte talked about 98% of the employers are retaining better when they're offering these upscaling programs and especially when it comes to high-performing talent. The other data point from that report was 55% of the companies are better equipped to deal with this rapid change and transformation that every company has to undertake now to face these disruptions but also help their employees grow and demonstrate towards these newer jobs as well. Any other questions? Yes, please. Hi, my name is Projol Khattak. I run a company called Onloop. Then we use generative AI to drive manager and team effectiveness, especially in a hybrid world. And my question was around what the data shows with regards to geography of jobs, especially through a combination of remote and hybrid work as well as the fact that we can now use generative AI products to quickly upscale remote workers purely with English skills and not so much with programming skills. And what do we think that will do to the relative composition of jobs in developing countries versus developing countries? Thank you for the question. Sadia, this reminds me of a line from your op-ed published today that the future job will be disruptive but not dystopian. So if you could tell us a little bit about what you've seen in terms of the geographic spread and what AI means. I think one piece that's definitely affecting the geography of jobs is the shifts in the nature of globalization that we're seeing currently. And the localization of production of supply chains is going to create a lot more jobs in certain parts of the world. But it's really those economies that actually grab that opportunity over the course of the last year. A lot of Western companies are, for example, looking at having a China plus one strategy. It depends on who the plus one is and how they've been able to attract that investment in that capital. But even in those places where that has occurred, there's still a mismatch and a lack of skills. That is still showing up as the number one issue across all geographies. Businesses are most concerned that they don't have access to the right kind of talent, that they don't have access to the right kind of skills. And as more and more of this localization essentially happens, there's going to be a bigger need than ever. Many countries that have previously been competing on the basis of simply having cheap labor, they will no longer be able to do so in this new economy. And they're going to have to think very, very differently about how they invest in building up the right kind of education systems and how they do a massive boost of skills in the current adult workforce. Because that's what they're going to have to do. Both invest for the future and make some changes right away if they want to continue to grow. We do look at about 45 countries in the report. There's a very diverse picture across all of them. In some countries, definitely there's more of a demand for the AI and broadly speaking, technology related talent. In many countries, it is really about the green talent that's going to be in demand. In many countries, it is very much about those social jobs and probably in the largest numbers. Maybe I'll just say one more word about this. Why the future of work need not be dystopian, just to go back to this point around proactive policy making. Governments will have to think very, very differently and that's across advanced and emerging markets. Businesses will have to join forces with them. It will no longer be enough for businesses to each think that they can set up their own very expensive reskilling and upskilling. They will have to partner with other companies and partner with various governments and people will have to think differently as well. So the younger generation that is still in school will have to think very differently about developing technological literacy, about developing leadership and social influence, and about developing analytical and creative thinking, which comes out as the top two set of skills that are in demand. And those that are currently in the workforce, some part of that burden is falling on workers themselves and to an extent which may not be manageable. The reskilling and upskilling that they will have to do for themselves. In other cases, they have very supportive employers that are providing some of that help, but I think overall we will need a much better structure that goes beyond purely online reskilling and upskilling and expecting that workers will be able to take that forward themselves. There are many parts of the world and many parts of the workforce where more support will be needed and that will come in the form of income security as well as jobs and career centers that it can actually help people make that shift. So I think at least for the next few years, it will need to be a combination and then hopefully that sets up a system that lasts. Yes. I don't want to be greedy, but I'd love to ask one more question, please, about the skills and the differentials of the skills. Two parts, really. One is, am I right that there isn't, at the moment, maybe the WEF can facilitate it, a sort of global dashboard of where to go to find the latest information about the movements around skills. So that's the question. First question is, what am I missing? And the second question is the literacy around the skills because there's really a difference, isn't there, between the technical skills you're describing, some of the AI, you know, a heat manager, and a different kind of skill, which is the soft skill. So who's handling that difference? Who's teaching that difference because they are really not the same? Sadi, would you like to take the first part of that question? Happy to come in, but I think you've got your hand up, and I'll come in after. I can take on one part of the question at least. I mean, from the report, we have definitely discovered the individual learners are prioritizing technical skills because that's where the job demand has been over the last few years and continues to be. So that means networking, programming, cybersecurity, operations and resource management, et cetera, and so on and so forth. But what we found through this survey from the employer perspective, with the rapid change and disruptions that are happening, they're looking for skills that are gonna sustain the individuals through this change. And so that's where they're talking about human skills, kind of falling back on the things that AI could not essentially disrupt. And that's where resilience, agility, and leadership, analytical thinking, creative thinking, these are the ones that employers are starting to prioritize. Now, but if I think about it differently, which is I think the skills that individuals are prioritizing are definitely foundational at the end of the day to do some of these jobs. Think about if you don't know reading, writing, and math, you won't be great in the sort of communication, and that's an essential part of influencing on social side of the equation. If you're not good at that stuff, you're not gonna get to those in-demand jobs. You talked about AI and big data jobs, right? So I think there's a real opportunity to actually think of it as like, how do we balance this? It's not just one or the other. And to your point, Nadia, I think you have to go all the way down, all the way from the individuals that are going through different programs. But also, I think the opportunity for campuses to start thinking about employability as a big part of it, and so that's technical skills. But look at this data, what employers are demanding. It's not just pure technical skills, they're also demanding these social skills. And I think the government has to kind of think of it the same way. I think there's a real opportunity to converge all of these different avenues. And actually, to your point, I actually, providing this sort of the insights, what's in demand from the industry, what are the kinds of jobs emerging, is industry participating in actually creating some of these micro-credentials to teach those skills, as well as the academics really enhancing that, can actually provide pathways for governments to create employment on a wider scale. Maybe three quick points. One, I think having a dynamic dashboard sounds like a great idea, rather than doing this every two years. So we'll certainly look into that. But I think that would have to be a combination of information that comes from various countries, various international organizations, and from employers, some surveys such as this one. Second element, I think in order to be able to do anything like that, you actually need a common skills taxonomy. Right now, the way people talk about skills is completely different around the world, inside countries, even inside the same organization, it can mean different things. So one of the things we've tried to do is put together a global skills taxonomy for the adult workforce, and what we call an education 4.0 taxonomy for the K through 12 learners. And just to simply have a common, what we're calling a universal adapter around the language for skills. So that's certainly something you could look at. And then third, if this is going to happen at scale, then you need sort of a platform where very rapidly the information on, so how did some of those softer skills actually get transferred, or very rapidly the information on, how did we take somebody from this profession to becoming a big data specialist, that needs to be pulled together. And that's where the forum has set up the reskilling revolution platform, where between 2020 and 2030, we want to get to a one billion learners having, being equipped with the skills of tomorrow, and we've reached about 350 million at present in partnership with many of the people here in this room. So as a key takeaway, people are not here to have to figure out this future of jobs on their own. We've got public, private cooperation coming together, a skills first approach, putting people at the center of economic growth. Thank you very much to all of our speakers. Thank you to those of us in the room and to those watching at home. See you next time. Thank you. Thank you.