Random Thoughts

Digitized Job Market: Insights from World Economic Forum 2019

The World Economic Forum for 2019 has wrapped up yesterday, January 25th, in Davos, Switzerland.

A number of panel discussions were about job displacement which we’ll witness in the coming decade, with machines and Artificial Intelligence taking the place of employees, we will have automation replacing many jobs we have today.

At one of the sessions titled “Identity in a Digital World”, one panelist talked about how increasingly there is no difference between digital society and society, digital economy and economy, reflecting how we are evolving to a digital-centric age where technology becomes the norm.  

Should We Be Worried?

Yes, we should, but we should not be panicked. Many experts highlighted the disappearance of many jobs but at the same, there will be thousands of other jobs created.

Other questions we should start asking ourselves what skills we should have to be ready for the new and upcoming job market. Many industry leaders tell us the most important skills that will be needed in the upcoming era are soft skills; such as creativity, Intelligence, and collaboration. Learning today for tomorrow’s job should be our priority to thrive in the digital economy.

Another Question That Comes To Mind, Where Do We, As Emerging and Developing Economies, Stand From All This Change?

Jack Ma, founder of Ali Baba, talked about how to get more developing countries involved. Ma discussed how the current global economy is designed by big companies, the new digital economy will witness a shift from this where the next challenge is to make everyone with a phone contribute and do business and making transactions in the digital economy.

After watching the panel discussion at the Digitalizing Emerging Markets session, they highlighted that people from developing economies might have a greater share than they had before, the challenge remains that these young players have to take the initiative and start engaging in e-commerce.

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