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1 Million Workers Targeted in Tech-Reskilling Drive

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The World Economic Forum launched the IT Industry Skills Initiative to meet the global skills gap challenge and address job displacement arising from automation and the Fourth Industrial Revolution. The initiative is committed to reaching 1 million people with resources and training opportunities on the SkillSET portal by January 2021.

The initiative was conceived by the Forum’s IT Governors community under the chairmanship of Chuck Robbins, Chairman and Chief Executive Officer, Cisco. The founding partners are Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise (HPE), Infosys, Pegasystems, PwC, Salesforce, SAP and Tata Consultancy Services.

“We need responsive solutions and coordination from all parts of society – governments, citizens and private industry alike – to re-envision an educational system based on lifelong learning that can fully prepare workers for the jobs of the future,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum. “This initiative is a clear example of industry leaders taking concerted, collective action to address a major social challenge at scale.”

According to a World Economic Forum report on workforce reskilling, one in four adults reported a mismatch between the skills they have and the skills they need for their current job. Therefore, enabling and empowering workers to transform and update their skills is a key concern for businesses and societies across the globe.

“In our dynamic world, technology has opened up many avenues for growth. However, we are also seeing how innovations such as artificial intelligence and automation can impact the workforce. It is important for all of us to recognize that without the talent we need, none of us would be successful,” said Chuck Robbins, Chairman and CEO, Cisco. “This initiative brings together the capabilities and strengths of all of our companies to help educate the high-skilled workers needed for jobs now and into the future. It is our obligation to make sure that people with jobs across every industry are given the means to learn new skills and remain competitive.”

The coalition has created a free platform of online tools to streamline the process of reskilling adults. The initial iteration of the portal will be available in April 2018.

To empower people to address fast-changing skill requirements, initiative partner companies are opening up key elements of their individual training libraries into one centralized portal. Users will have access, free of charge, to the most up-to-date, self-paced training materials from leading global IT companies, ranging from general business skills to introductory digital literacy to more advanced topics such as cybersecurity, big data or internet of things. The portal will offer a tailored Skills Assessment, developed by PwC, and based on the Fourth Industrial Revolution skills research, to help users determine which coursework and/or learning pathways best fit their current skillset and learning goals.

In creating this platform, the coalition hopes to recast continued education to a more engaging, ongoing and educationally reaffirming experience. They also hope to motivate adults of all backgrounds to use the platform, especially those from low-resource communities or under-represented groups who have historically had less access to the IT industry. SkillSET is hosted on the award-winning EdCast AI-powered Knowledge Cloud platform, accessible to anyone using desktop or mobile versions.

The coalition, which continues to add members, will be working over the next few months to develop tools and processes intended to address many of the barriers that prevent adults from reskilling or successfully completing trainings. The initiative will initially target the US market, with plans to scale to other geographies and build industry and public-sector partnerships in 2018 and beyond. Under the chairmanship of Mike Gregoire, Chief Executive Officer, CA Technologies, the coalition will report on progress at the World Economic Forum Annual Meeting 2019.

Founding Partners Speak Out:

Pierre Nanterme, Chairman and Chief Executive Officer, Accenture: “People need innovative ways to learn new skills in order to remain relevant and adaptive as the pace of technology change accelerates. For example, AI offers enormous opportunities for growth, but success will increasingly depend on humans collaborating with intelligent technologies. By accessing a broad range of ‘new skilling’ techniques, people will be better placed to work with machines and help businesses pivot to new growth models.”

Michael Gregoire, Chief Executive Officer, CA Technologies: “Technology is both the tool and the canvas and carries the huge promise of improving how we live and work. The counter side, however, is some degree of wariness by those who fear it disrupting their livelihoods, which is both understandable and expected. We are focused on a large-scale, proactive solution that encourages continuing education to empower and inspire today’s and tomorrow’s workforce. We must engage with technology in a way that creates new opportunities, both at an individual level and in the aggregate.”

Francisco D’Souza, Chief Executive Officer, Cognizant Technology Solutions: “The workplace issue of the 21st century is a worldwide shortage of qualified technology talent driven by a massive skills gap, which we must address together on a global scale. The pace of technological change has education systems struggling to keep up in delivering learning experiences that are relevant, immersive and readily available as workers seek to expand their skills. The future of talent development depends on new models, ways of thinking and initiatives like this one that engage individuals as lifelong learners and provide them with opportunities for continuous reinvention.”

Salil Parekh, Chief Executive Officer and Managing Director, Infosys Ltd: “Our relevance, in an increasingly digital future, will depend on our ability to learn and evolve lifelong at the pace of technology. Democratizing digital literacy is an essential first step to make technology a force for good that moves us all forward.”

Alan Trefler, Founder and Chief Executive Officer, Pegasystems Inc.: “Throughout history, we’ve seen technological advancement bring both opportunities and challenges as society adapts. With technology so central to how we live and work today, it’s critical that we enable people to acquire the skills required to be successful and to help society move forward in a positive direction.

Robert E. Moritz, Global Chairman, PwC International, PwC: “All over the world, people are asking themselves how they are going to prepare for their future, whether it’s a new job, new responsibilities, or needed new skills. By working together across the public and private sectors, our hope is to enable new opportunities for people to carve their own paths, develop new skills, and future-proof themselves. By sharing our Skills Assessment, we believe more people around the world will be empowered to learn and grow professionally throughout their lives.”

Keith Block, Vice Chairman, President and COO, Salesforce: “As the Fourth Industrial Revolution spurs incredible innovation, it is our responsibility as business leaders to ensure that the benefits created by this opportunity – now and in the future – are accessible to all.”

Bill McDermott, Chief Executive Officer, SAP: “Our focus on building digital skills will unleash amazing potential in dreamers from all backgrounds. Instead of fearing automation, we should be optimistic about the exciting possibilities when people and machines work together. Bigger than artificial intelligence, we are entering a new frontier of ‘augmented humanity’.”

Rajesh Gopinathan, Chief Executive Officer and Managing Director, Tata Consultancy Services Ltd: With the advent of the Fourth Industrial Revolution, enterprises are leveraging the combined effect of emerging technologies to transform their businesses. Employees will also have to transform their skills and adopt newer ways of working to participate in today’s opportunities that are as enormous as in any of the previous generations. It is important for enterprises to make investments in reskilling and upskilling employees and prepare them for digital-age careers.”

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ADB Operations Reach $32.2 Billion in 2017- ADB Annual Report

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The Asian Development Bank (ADB) Annual Report 2017, released today, provides a clear, comprehensive, and detailed record of ADB’s operations, activities, and financial results over the past year.

Annual operations of ADB reached a record $32.2 billion in 2017, as the bank continues to meet Asia and the Pacific’s growing development needs, according to the Annual Report. This was a 26% increase from the year before.

ADB’s total operations of $32.2 billion last year consisted of $20.1 billion in loans, grants, and investments from its own resources (up 51% from 2016) including nonsovereign operations of $2.3 billion (a 31% increase from 2016); $11.9 billion in cofinancing from bilateral and multilateral agencies and other financing partners; and $201 million in technical assistance (a 11% increase from 2016).

These figures are based on ADB’s new performance measure of “commitments,” or the amount of loans, grants, and investments signed in a given year. ADB introduced this measure in 2017 to promote project readiness at approval stage, expedite post-approval steps, and get closer to project disbursement, by placing more emphasis on when the projects are signed, rather than when they are approved by ADB’s Board of Directors.

“We began a new chapter in meeting development needs across Asia and the Pacific in 2017,” said ADB President Takehiko Nakao. “With the merger of the bank’s concessional Asian Development Fund lending operations with the ordinary capital resources balance sheet from the start of 2017, ADB has a solid capital base to support our operations going forward.”

Mr. Nakao added, “We continue to combine finance with innovative solutions to respond better to the region’s diverse and specific challenges and needs, such as rapid urbanization, climate change, and growing demand for water and energy.”

ADB’s financing of climate mitigation and adaptation reached a record $4.5 billion in 2017, a 21% increase from the previous year. The bank is now in a good position to achieve its $6 billion annual climate financing target by 2020. ADB also mobilized an additional $606 million from external financing, bringing total climate financing to $5.2 billion last year.

The Annual Report emphasizes the importance of partnerships for ADB in scaling up project financing, and for sharing development knowledge and expertise. With the support of donors, ADB established five new trust funds in 2017 that will unlock capital for climate investments through innovative financial products, increase private sector participation in climate change mitigation and adaptation projects, help cities prepare high-priority urban infrastructure investments, increase mobilization of domestic resources, and integrate high-level technology into infrastructure project designs.

On the downside, ADB’s disbursements decreased to $11.1 billion in 2017 from $12.3 billion in 2016, according to the Annual Report. Cofinancing also fell short of ADB’s targets.

“We will come up with concrete measures to increase disbursements and cofinancing, building on the new ADB procurement policy approved in April 2017 and ongoing efforts to leverage the bank’s resources,” said Mr. Nakao.

The Annual Report 2017 presents a more comprehensive picture of ADB operations than the previous annual reports in terms of numbers and institutional data. It provides expanded sections on financial highlights, sector and thematic work, and knowledge. ADB’s specific assistance to countries and regional programs, lists of trust funds and corporate reports, and organizational structure are also added.

The figures in the report update the provisional operations numbers released by ADB in January.

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New Funding for Mindanao Trust Fund to Strengthen Peace and Development in Southern Philippines

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Efforts to bring peace and progress in Mindanao were reaffirmed today following the signing of a new agreement that will build more socioeconomic infrastructure and improve literacy in conflict affected areas.

The new Program Partnership Agreement signed by the Bangsamoro Development Agency (BDA) – the development arm of the Moro Islamic Liberation Front (MILF) – and humanitarian organization Community and Family Services International (CFSI) entrusts the two parties to implement the USD 3.2 million grant with financing from the Mindanao Trust Fund for Reconstruction and Development (MTF).

The Spanish Agency for International Development Cooperation (AECID) also provided complementary funding amounting to 1 million euro to support similar activities.

“This new partnership agreement strengthens Normalization under the Comprehensive Agreement on the Bangsamoro. It will help improve the quality of life of people in conflict-affected areas through community participation and the pursuit of sustainable livelihood within a peaceful, deliberative society,” said Secretary Jesus Dureza, Presidential Adviser on the Peace Process. “For four years, we have been reaching out to our fellow Filipinos in the south, touching lives and taking ‘peace by piece’ steps towards a developed Bangsamoro.”

Established in 2006 with support from development partners including the Australia, Canada, European Union, Sweden, New Zealand, and the United States, and administered by the World Bank, the MTF consolidates international development assistance for the socioeconomic recovery of conflict-affected communities in Mindanao and seeks to build confidence in the normalization process with the MILF.

From 2006 to 2017, development partners have provided PHP 1.4 billion (USD 28.9 million) to the program. Within this period, results delivered by the MTF-Reconstruction and Development Project include 573 projects that improved infrastructure, strengthen livelihoods and functional literacy in 315 conflict-affected communities across 75 municipalities. Nearly 650,000 people now benefit from clean water, better roads, and more post-harvest facilities and access to farming and fishing equipment.

“The support of the Philippine government and development partners towards projects that strengthen the Bangsamoro’s capacities to improve their socioeconomic conditions reinforce people’s trust on the Bangsamoro peace process and the passage of the Bangsamoro Basic Law,” said MILF Peace Implementing Panel Chair Mohagher Iqbal.

The project also supported activities to improve livelihoods, infrastructure, and basic literacy in the Six Acknowledged MILF Camps: Camps Abubakar, Omar, Rajamuda, Badre, Bushra, and Bilal. The decision of Secretary Dureza of OPAPP, the MILF, and development partners to further intensify these efforts through the MTF highlight the partners’ commitment to peace and development in Mindanao.

“Greater economic opportunity and access to basic services foster hope in conflict-affected areas, which can build understanding and collaboration among community members. The World Bank is committed to supporting efforts that enhance the prospects for peace in Mindanao,” said Mara K. Warwick, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand.

“Australia is a longstanding supporter of peace and development in Mindanao, and is proud to be a partner for change in the second phase of the Mindanao Trust Fund,” said Australian Ambassador Amanda Gorely. “As the first phase has already shown, the socio-economic infrastructure and literacy projects it will provide can have a remarkable impact for communities in Muslim Mindanao.”

“One of the biggest challenges for development policies is to tackle the most vulnerable communities affected by multiple conflicts and threats; to not leave them behind. This complex aim needs joint resources from national and international stakeholders following a sound local leadership. MTF has acted as a valuable driver of such efforts,” said Juan Pita, General Coordinator of AECID.

The MTF has a steering committee that oversees the implementation and evaluation of the program. It is chaired by OPAPP, BDA, and the World Bank, which also serves as the trust fund secretariat.

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Bangladesh: World Bank Increases Support for Clean, Renewable Energy

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The World Bank today approved $55 million to expand use of clean renewable energy in rural areas of Bangladesh where grid electricity cannot reach easily.

The additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids, and about 4 million improved cookstoves in rural areas. The project, including the additional financing, will enable about 10 million people living in villages, shoals, and islands to access electricity and use energy efficient cookstoves. These interventions will help the country reduce carbon emissions.

We are proud to be helping Bangladesh increase access to clean electricity through solar power. Today, the country has one of the world’s largest domestic solar power programs, covering 14 percent of the population,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan, and Nepal. “Building on its success in using solar energy to provide electricity in rural areas, this financing will also scale up other clean renewable energy options.”

The project has already built 10 solar mini-grids in remote areas, including islands and shoals to provide grid quality electricity. This additional financing will help construct another 30 solar mini-grids. These will provide about 28,000 connections to households and businesses, including small and medium-sized enterprises.

The financing will also help increase use of solar irrigation pumps, a low-cost technology that is well suited to the country’s flat terrain and abundant sunshine. This switch from diesel pumps will decrease greenhouse gas emissions and save foreign exchange by reducing the government’s subsidy on diesel imports.

“In Bangladesh, indoor air pollution causes 107,000 deaths per year, mostly women and children. Traditional cookstoves used in rural areas is a major contributor to this,” said Amit Jain, World Bank Team Leader for the project. “This project will scale up use of improved stoves. Their energy-efficient design will emit 90 percent less carbon monoxide and use half as much firewood as a traditional stove. A major thrust of the project will be to increase use of affordable-fuel efficient cookstoves by the poor and extreme poor.”

Since 2002, the World Bank has been helping the government expand renewable energy programs. In the energy sector, the World Bank has ongoing support of over $1.6 billion in Bangladesh covering generation, transmission, distribution, and renewable energy.

In addition, the Green Climate Fund (GCF) Board has on February 27, 2018 approved an additional $20 million to support the energy efficient cookstoves project, which is their first approved cookstoves project.

The credit from the World Bank’s International Development Association, which provides grants or zero-interest loans, has a 38-year term, including a 6-year grace period, and a service charge of 0.75 percent.

The World Bank was among the first development partners to support Bangladesh following its independence. Since then, the World Bank has committed nearly $28 billion in grants and interest-free credits to the country. In recent years, Bangladesh has been among the largest recipients of the World Bank’s interest-free credits.

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