Global Human Capital Report 2017 — from the World Economic Forum

Excerpt from the Conclusion section (emphasis DSC):

Technological change and its impact on labour markets calls for a renewed focus on how the world’s human capital is invested in and leveraged for social well-being and economic prosperity for all. Many of today’s education systems are already disconnected from the skills needed to function in today’s labour markets and the exponential rate of technological and economic change is further increasing the gap between education and labour markets. Furthermore, the premise of current education systems is on developing cognitive skills, yet behavioural and non-cognitive skills that nurture an individual’s capacity to collaborate, innovate, self-direct and problem-solve are increasingly important. Current education systems are also time-compressed in a way that may not be suited to current or future labour markets. They force narrow career and expertise decisions in early youth. The divide between formal education and the labour market needs to be overcome, as learning, R&D, knowledge-sharing, retraining and innovation take place simultaneously throughout the work life cycle, regardless of the job, level or industry.

 

Insert from DSC…again I ask:

Is is time to back up a major step and practice design thinking on the entire continuum of lifelong learning?”

 

Education delivery and financing mechanisms have gone through little change over the last decades. In many countries, many youth and children may find their paths constrained depending on the type of education they are able to afford, while others may not have access to even basic literacy and learning. On the other hand, many developed world education systems have made enormous increases in spending—with little explicit return. Early childhood education and teacher quality remain neglected areas in many developed and developing countries, despite their proven impact on learning outcomes. Both areas also suffer from lack of objective, global data.

Generational shifts also necessitate an urgent focus by governments on human capital investments, one that transcends political cycles. Ageing economies will face a historical first, as more and more of their populations cross into the 65 and over age group and their workforces shrink further, necessitating a better integration of youth, female workers, migrants and older workers. Many emerging economies face change of a different kind as a very large cohort of the next generation—one that is more connected and globalized than ever before—enters the workforce with very different aspirations, expectations and worldviews than their predecessors.

The expansion of the digital economy is accelerating the presence of a new kind of productive entity, somewhere between human capital and physical capital—robots and intelligent algorithms. As a result, some experts expect a potential reduction in the use of human labour as part of economic value creation while others expect a restructuring of the work done by people across economies but stable or growing overall levels of employment.19 Yet others have cautioned of the risks to economic productivity of technological reticence at the cost of realizing the raw potential of new technological advancements unfettered.20 While in the immediate term the link between work and livelihoods remains a basic feature of our societies, the uncertainty around the shifts underway poses fundamental questions about the long-term future structure of economies, societies and work. However, for broad-based transition and successful adaptation towards any one of these or other long-term futures, strategic and deep investments in human capital will be even more—not less—important than before.

 

 

 

 

Google AR and VR: Get a closer look with Street View in Google Earth VR

Excerpt:

With Google Earth VR, you can go anywhere in virtual reality. Whether you want to stroll along the canals of Venice, stand at the summit of Mount Kilimanjaro or soar through the sky faster than a speeding bullet, there’s no shortage of things to do or ways to explore. We love this sense of possibility, so we’re bringing Street View to Earth VR to make it easier for you to see and experience the world.

This update lets you explore Street View imagery from 85 countries right within Earth VR. Just fly down closer to street level, check your controller to see if Street View is available and enter an immersive 360° photo. You’ll find photos from the Street View team and those shared by people all around the world.

 

 

 

 

 

 

Getting students ready for the gig economy — from gettingsmart.com by Emily Liebtag

Excerpt:

1) Finding a Passion and Making an Impact
Exploring passions, interests and causes that matter should be a part of every student’s education. Projects or several short-term gigs are a great way to help students reveal (or discover) their personal passions and to facilitate their interest explorations (all while still covering core content and standards). There are many students who already have opportunities to explore their passions during the regular school day through projects and are thriving as a result.

We’ve seen students at High Tech High create business plans and sell self-designed t-shirts, students at Thrive Public Schools engage in projects around kindness and empathy in their communities, and students at One Stone work with clients on advertising and marketing gigs, exploring their passions one project at a time.

Need ideas? Engage students in projects around the Sustainable Development Goals, snag an idea from the the PBL Q & A blog or simply ask students what they are curious about exploring in their community.

 

 

Robots and AI are going to make social inequality even worse, says new report — from theverge.com by
Rich people are going to find it easier to adapt to automation

Excerpt:

Most economists agree that advances in robotics and AI over the next few decades are likely to lead to significant job losses. But what’s less often considered is how these changes could also impact social mobility. A new report from UK charity Sutton Trust explains the danger, noting that unless governments take action, the next wave of automation will dramatically increase inequality within societies, further entrenching the divide between rich and poor.

The are a number of reasons for this, say the report’s authors, including the ability of richer individuals to re-train for new jobs; the rising importance of “soft skills” like communication and confidence; and the reduction in the number of jobs used as “stepping stones” into professional industries.

For example, the demand for paralegals and similar professions is likely to be reduced over the coming years as artificial intelligence is trained to handle more administrative tasks. In the UK more than 350,000 paralegals, payroll managers, and bookkeepers could lose their jobs if automated systems can do the same work.

 

Re-training for new jobs will also become a crucial skill, and it’s individuals from wealthier backgrounds that are more able to do so, says the report. This can already be seen in the disparity in terms of post-graduate education, with individuals in the UK with working class or poorer backgrounds far less likely to re-train after university.

 

 

From DSC:
I can’t emphasize this enough. There are dangerous, tumultuous times ahead if we can’t figure out ways to help ALL people within the workforce reinvent themselves quickly, cost-effectively, and conveniently. Re-skilling/up-skilling ourselves is becoming increasingly important. And I’m not just talking about highly-educated people. I’m talking about people whose jobs are going to be disappearing in the near future — especially people whose stepping stones into brighter futures are going to wake up to a very different world. A very harsh world.

That’s why I’m so passionate about helping to develop a next generation learning platform. Higher education, as an industry, has some time left to figure out their part/contribution out in this new world. But the window of time could be closing, as another window of opportunity / era could be opening up for “the next Amazon.com of higher education.”

It’s up to current, traditional institutions of higher education as to how much they want to be a part of the solution. Some of the questions each institution ought to be asking are:

  1. Given our institutions mission/vision, what landscapes should we be pulse-checking?
  2. Do we have faculty/staff/members of administration looking at those landscapes that are highly applicable to our students and to their futures? How, specifically, are the insights from those employees fed into the strategic plans of our institution?
  3. What are some possible scenarios as a result of these changing landscapes? What would our response(s) be for each scenario?
  4. Are there obstacles from us innovating and being able to respond to the shifting landscapes, especially within the workforce?
  5. How do we remove those obstacles?
  6. On a scale of 0 (we don’t innovate at all) to 10 (highly innovative), where is our culture today? Where do we hope to be 5 years from now? How do we get there?

…and there are many other questions no doubt. But I don’t think we’re looking into the future nearly enough to see the massive needs — and real issues — ahead of us.

 

 

The report, which was carried out by the Boston Consulting Group and published this Wednesday [7/12/17], looks specifically at the UK, where it says some 15 million jobs are at risk of automation. But the Sutton Trust says its findings are also relevant to other developed nations, particularly the US, where social mobility is a major problem.

 

 

 

 

From DSC:
Given the increasing use of robotics, automation, and artificial intelligence…how should the question of “What sort of education will you need to be employable in the future?” impact what’s being taught within K-12 & within higher education? Should certain areas within higher education, for example, start owning this research, as well as the strategic planning and whether changes are needed to the core curricula for this increasingly important trend?

The future’s coming at us fast — perhaps faster than we think. It seems prudent to work through some potential scenarios and develop plans for those various scenarios now, rather than react to this trend at some point in the future. If we wait, we’ll be trying to “swim up the backside of the wave” as my wise and wonderful father-in-law would say.

 



The above reflections occurred after I reviewed the posting out at cmrubinworld.com (with thanks to @STEMbyThomas for this resource):

  • The Global Search for Education: What Does My Robot Think?
    Excerpt:
    The Global Search for Education is pleased to welcome Ling Lee, Co-Curator of Robots and the Contemporary Science Manager for Exhibitions at the Science Museum in London, to discuss the impact of robots on our past and future.

 

 

 



 

 

Most Millennials Are Finding It Hard to Transition Into Adulthood: Report — from nbcnews.com by Safia Samee Ali

Excerpt:

“It became too difficult financially to be in school and not working,” says Kaylor, who dropped out of Lincoln Christian University, in Illinois, after one semester because of a money crunch. “And without schooling, you can’t get a job that you can survive on, so I had to move back home,” he said.

From DSC:
Let’s pause right there. If higher ed is the gatekeeper into better salaries/wage rates — i.e., the ability to make a living — then it must be affordable. Higher education has a big piece of this current situation. This is why a backlash against traditional institutions of higher education continues to build. When a lower cost “Amazon.com of Higher Education” comes along, many will take that route. Just sayin’.

“In 1975, only 25 percent of men aged 25 to 34 had incomes of less than $30,000 per year. By 2016, that share rose to 41 percent of young men,” according to the report.

In 2015, one-third or about 24 million young adults, ranging from 18 to 34, lived with their parents, according to the report.

 

“These individuals are the first to go through new demands in a drastically different job force than from one generation prior,” he said. So it’s no surprise the transition has been bumpy for many.

 

 

 

 

4 Ways Technology Is Changing Recruiting — from blog.hrtechweekly.com by Ji-A Min

Excerpt:

AI for recruiting
Industry statistics estimate 75 percent of resumes received for a role are screened out. This adds up to the hundreds of hours a recruiter wastes reading unqualified resumes per year. As one of recruiting’s biggest bottlenecks, resume screening is in dire need of better tools to help recruiters manage their time more effectively. This is why AI for recruiting is the biggest topic in HR tech right now. AI and recruiting are a natural fit because AI requires a lot of data to learn and large companies often have millions of resumes in their ATS.

Recruiting software that uses artificial intelligence can automate the screening process by learning the experience, skills, and qualifications required for the job and then shortlisting, ranking, and grading new candidates who match the requirements (e.g., from A to D). This type of AI recruiting software can also be used to source candidates from external databases such as Indeed and CareerBuilder or find previous candidates in your existing ATS database by applying the same learning ability to match candidates to an open req. By automating the manual processes of resume screening and candidate matching, companies who use AI recruiting software have reduced their screening costs by 75%.

Comment from DSC:
This is exactly why I tell my students to be sure they have an account on LinkedIn — which is owned by Microsoft. A piece of Microsoft will likely traverse down the AI-based pathway. (I also encourage them to have other pieces of their digital/online-based footprint such as an account on Twitter as well as their own WordPress-based blog).  Data mining and the use of AI for hiring will only pick up steam from here on out. If you don’t exist online, you had better have a lot of contacts and foots in the doors elsewhere.

 

 

Today more than ever, finding top talent will depend on a recruiter’s ability to intelligently automate their workflow.

 

 

 

Google is shifting their focus from Search to artificial intelligence, CEO says — from zmescience.com by

Excerpt:

While delivering Google’s first quarterly income report on Thursday, the company’s CEO said that Google is transitioning — the search-engine giant will become an A.I.-first company.

“We continue to set the pace in machine learning and A.I. research,” said Google CEO Sundar Pichai said in a call [embedded at the end of the article] to investors on Thursday to report the company’s Q1 2017 earnings.

“We’re transitioning to an A.I.-first company.”

 

 

 

A revolutionary partnership: How artificial intelligence is pushing man and machine closer together — from pcw.com

Excerpt:

With more than $5 billion in 605 deals of VC investment over last 2 years, artificial intelligence (AI) is poised to have a transformative effect on consumer, enterprise, and government markets around the world. While there are certainly obstacles to overcome, consumers believe that AI has the potential to assist in medical breakthroughs, democratize costly services, elevate poor customer service, and even free up an overburdened workforce. We dug deeper into those perceptions through an online survey of consumers and business decision makers, and an expert salon with thought leaders in the field. This original research unpacks key ways AI may impact our world, delving into its implications for society, service, and management.

 

Also see:

AI has the potential to become a great equalizer. More than half of consumers believe AI will provide educational help to disadvantaged schoolchildren. Over 40% also believe AI will expand access to financial, medical, legal, and transportation services to those with lower incomes.

Consumers also see the value in sharing their personal information for the greater good: 62% would share their data to help relieve traffic in their cities and 57% would do so to further medical breakthroughs.

 

 

 

Can Virtual Reality “teach” empathy? — from hechingerreport.org by Chris Berdik
Immersive VR in the classroom is spreading fast, as teachers take students into other worlds

Excerpt:

In November 2015, middle-school students from Westchester County, New York, found themselves on a windswept field in South Sudan mingling with a crowd of refugees fleeing civil war. Suddenly, they heard the deafening roar of low-flying military cargo planes overhead, followed by large bags of grain thudding to the ground all around them.

“The kids were jumping back from those bags dropping at their feet,” recalled Cayne Letizia, the teacher who used immersive virtual reality (VR) to transport his class into this emergency food drop featured in the New York Times 360-degree video series about refugees. Count Letizia among VR’s burgeoning fan base in education, where the spread of high-quality content and more-affordable hardware (especially Google’s $15 Cardboard Viewer) gives students myriad ways to briefly inhabit what they’re learning—from wandering the streets of ancient Rome to touring the International Space Station.

 

From DSC:
I read the other day where someone asserted that you can’t make someone be more empathetic. That may be so, but VR can sure put you in someone else’s shoes — big time!  And that seems like in many cases, that can be a good thing in terms of understanding what someone else might be going through.

 

 

 

 

 

 

Robots will take jobs, but not as fast as some fear, new report says — from nytimes.com by Steve Lohr

 

Excerpt:

The robots are coming, but the march of automation will displace jobs more gradually than some alarming forecasts suggest.

A measured pace is likely because what is technically possible is only one factor in determining how quickly new technology is adopted, according to a new study by the McKinsey Global Institute. Other crucial ingredients include economics, labor markets, regulations and social attitudes.

The report, which was released Thursday, breaks jobs down by work tasks — more than 2,000 activities across 800 occupations, from stock clerk to company boss. The institute, the research arm of the consulting firm McKinsey & Company, concludes that many tasks can be automated and that most jobs have activities ripe for automation. But the near-term impact, the report says, will be to transform work more than to eliminate jobs.

 

So while further automation is inevitable, McKinsey’s research suggests that it will be a relentless advance rather than an economic tidal wave.

 

 

Harnessing automation for a future that works — from mckinsey.com by James Manyika, Michael Chui, Mehdi Miremadi, Jacques Bughin, Katy George, Paul Willmott, and Martin Dewhurst
Automation is happening, and it will bring substantial benefits to businesses and economies worldwide, but it won’t arrive overnight. A new McKinsey Global Institute report finds realizing automation’s full potential requires people and technology to work hand in hand.

Excerpt:

Recent developments in robotics, artificial intelligence, and machine learning have put us on the cusp of a new automation age. Robots and computers can not only perform a range of routine physical work activities better and more cheaply than humans, but they are also increasingly capable of accomplishing activities that include cognitive capabilities once considered too difficult to automate successfully, such as making tacit judgments, sensing emotion, or even driving. Automation will change the daily work activities of everyone, from miners and landscapers to commercial bankers, fashion designers, welders, and CEOs. But how quickly will these automation technologies become a reality in the workplace? And what will their impact be on employment and productivity in the global economy?

The McKinsey Global Institute has been conducting an ongoing research program on automation technologies and their potential effects. A new MGI report, A future that works: Automation, employment, and productivity, highlights several key findings.

 

 



Also related/see:

This Japanese Company Is Replacing Its Staff With Artificial Intelligence — from fortune.com by Kevin Lui

Excerpt:

The year of AI has well and truly begun, it seems. An insurance company in Japan announced that it will lay off more than 30 employees and replace them with an artificial intelligence system.  The technology will be based on IBM’s Watson Explorer, which is described as having “cognitive technology that can think like a human,” reports the Guardian. Japan’s Fukoku Mutual Life Insurance said the new system will take over from its human counterparts by calculating policy payouts. The company said it hopes the AI will be 30% more productive and aims to see investment costs recouped within two years. Fukoku Mutual Life said it expects the $1.73 million smart system—which costs around $129,000 each year to maintain—to save the company about $1.21 million each year. The 34 staff members will officially be replaced in March.

 


Also from “The Internet of Everything” report in 2016 by BI Intelligence:

 

 


 

A Darker Theme in Obama’s Farewell: Automation Can Divide Us — from nytimes.com by Claire Cain Miller

Excerpt:

Underneath the nostalgia and hope in President Obama’s farewell address Tuesday night was a darker theme: the struggle to help the people on the losing end of technological change.

“The next wave of economic dislocations won’t come from overseas,” Mr. Obama said. “It will come from the relentless pace of automation that makes a lot of good, middle-class jobs obsolete.”


Artificial Intelligence, Automation, and the Economy — from whitehouse.gov by Kristin Lee

Summary:
[On 12/20/16], the White House released a new report on the ways that artificial intelligence will transform our economy over the coming years and decades.

 Although it is difficult to predict these economic effects precisely, the report suggests that policymakers should prepare for five primary economic effects:

    Positive contributions to aggregate productivity growth;
Changes in the skills demanded by the job market, including greater demand for higher-level technical skills;
Uneven distribution of impact, across sectors, wage levels, education levels, job types, and locations;
Churning of the job market as some jobs disappear while others are created; and
The loss of jobs for some workers in the short-run, and possibly longer depending on policy responses.


 

Equipping people to stay ahead of technological change — from economist.com by
It is easy to say that people need to keep learning throughout their careers. The practicalities are daunting.

Excerpt (emphasis DSC):

WHEN education fails to keep pace with technology, the result is inequality. Without the skills to stay useful as innovations arrive, workers suffer—and if enough of them fall behind, society starts to fall apart. That fundamental insight seized reformers in the Industrial Revolution, heralding state-funded universal schooling. Later, automation in factories and offices called forth a surge in college graduates. The combination of education and innovation, spread over decades, led to a remarkable flowering of prosperity.

Today robotics and artificial intelligence call for another education revolution. This time, however, working lives are so lengthy and so fast-changing that simply cramming more schooling in at the start is not enough. People must also be able to acquire new skills throughout their careers.

Unfortunately, as our special report in this issue sets out, the lifelong learning that exists today mainly benefits high achievers—and is therefore more likely to exacerbate inequality than diminish it. If 21st-century economies are not to create a massive underclass, policymakers urgently need to work out how to help all their citizens learn while they earn. So far, their ambition has fallen pitifully short.

At the same time on-the-job training is shrinking. In America and Britain it has fallen by roughly half in the past two decades. Self-employment is spreading, leaving more people to take responsibility for their own skills. Taking time out later in life to pursue a formal qualification is an option, but it costs money and most colleges are geared towards youngsters.

 

The classic model of education—a burst at the start and top-ups through company training—is breaking down. One reason is the need for new, and constantly updated, skills.

 

 

 

Lifelong learning is becoming an economic imperative — from economist.com
Technological change demands stronger and more continuous connections between education and employment, says Andrew Palmer. The faint outlines of such a system are now emerging

Excerpt:

A college degree at the start of a working career does not answer the need for the continuous acquisition of new skills, especially as career spans are lengthening. Vocational training is good at giving people job-specific skills, but those, too, will need to be updated over and over again during a career lasting decades. “Germany is often lauded for its apprenticeships, but the economy has failed to adapt to the knowledge economy,” says Andreas Schleicher, head of the education directorate of the OECD, a club of mostly rich countries. “Vocational training has a role, but training someone early to do one thing all their lives is not the answer to lifelong learning.”

To remain competitive, and to give low- and high-skilled workers alike the best chance of success, economies need to offer training and career-focused education throughout people’s working lives. This special report will chart some of the efforts being made to connect education and employment in new ways, both by smoothing entry into the labour force and by enabling people to learn new skills throughout their careers. Many of these initiatives are still embryonic, but they offer a glimpse into the future and a guide to the problems raised by lifelong reskilling.

 

 

Individuals, too, increasingly seem to accept the need for continuous rebooting.

 

 

 

Looking for something?

Use the form below to search the site:

Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!

© 2017 | Daniel Christian