Higher GDP per capita alone does not determine real quality of life. This is according to the Social Progress Index (SPI) 2016 published by US-based nonprofit, the Social Progress Imperative. The Index ranks Finland the world’s most socially progressive country, Canada in second place tops the G7 nations.
Experts at the Annual Meeting of the New Champions tackled the issue of artificial intelligence and what it means for humans, concluding that they can and should coexist. The pertinent issue is how humans can leverage artificial intelligence to enhance the outcome of new technologies and improve quality of life, and not focus on the narrative of human vs machine. However, rapid technological advances underline the urgency for policy-makers to redesign educational systems so that younger generations are adequately prepared for a workplace that will see more automated processes.
Rich and poor countries alike are missing huge opportunities when it comes to making the most of their populations’ economic potential, with only 65% on average of the world’s talent being optimized during all stages of the working life time, according to the World Economic Forum’s Human Capital Report 2016.
A technology revolution is disrupting the financial services industry and could make digital currency and blockchain transactions commonplace in just a few years, financial technology and fintech experts argued in a session on the topic at the Annual Meeting of the New Champions 2016. Technologies from big data analytics to mobile apps are reshaping the sector, resulting in new ways for companies to interact with customers and for consumers to manage their money and conduct transactions.
The commodities boom has deflated, and Latin American economies must now develop ways to stimulate growth in a tepid environment. The challenges are many and tough, and a number of promising approaches are clearly in view, senior government officials and experts agreed on the final day of the World Economic Forum on Latin America.
Hypergrowth demonstrates a growing systemic opportunity for the global economy as it enters the Fourth Industrial Revolution. Breaking down the preconditions for such growth and what it means for the future of enterprise is critical for a world looking to find solutions to spur growth and productivity.
Today many countries suffer from high and rising inequality with many citizens unable to fully benefit from economic progress. Of course this is a major concern for governments around the world, but business also has an important role to play in addressing these challenges. A new report provides an important tool for our discussions on how businesses can support a growth process that is both inclusive and sustainable.