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By Anas Al Mudaifer, CEO of HCDP*
In January 2024 as the world wakes up a new year, global leaders will gather in Davos at the World Economic Forum under the theme of “Rebuilding Trust”.
There is consensus worldwide we will require unified efforts to resolve collective challenges ranging from the rapid growth of AI, the effects of climate change and a shift in demographics.
At the heart of these large-scale and somewhat daunting discussions, there is one common thread — people.
We need to place people at the heart of large-scale transformations and people-scaled, people-centric solutions are key to keeping pace with a fast-changing world through sound, future-ready programs on Human Capability Development (HCD).
HCD means that we are supporting people through education matched to labor market needs, fostering innovation, and developing and upgrading skills constantly to unleash our collaborative potential and create a better world for generations to come.
The World Economic Forum’s Future of Jobs Report 2023 shows that 44% of workers’ skills will be disrupted over the next five years — a reminder and reality check that our skills and approach will need to constantly evolve at a pace faster than our working environment.
Statistics across just three drivers of global change — AI, climate change and an aging population — underscore the importance of HCD as a key mitigation factor to help achieve our goals in each of these domains.
According to McKinsey and Co. by 2030, 12 million “occupational transitions” may be needed in the US alone driven by a high rate of AI-managed tasks.
The numbers are similar in sustainability where BCG calculates an acute skills gap of 7 million jobs in the renewable energy sector.
And finally, Bain and Co. reports that 73% of engineering and R&D focused companies report talent gaps driven by a higher rate of attrition among older workers compared to replacement rates by younger workers.
If left unmitigated, these challenges point to a future filled with job insecurity, exposure to increased climate change risks, and will limit our ability to build and innovate across communities.
At the Human Capability Development Program – one of Saudi Arabia’s Vision Realization Programs inspired by the Kingdom’s Vision 2030 — we share the same objective as WEF and other leading global leadership platforms that collectively, we can achieve greater good and tackling pressing issues that our societies are facing.
Hence, we have launched the Human Capability Initiative (HCI), a first-of-its-kind global forum taking place 28-29 February in Riyadh, that will bring the brightest solutions-oriented minds together to spark discussion and dialogue on HCD to imagine what we need to be future ready, and find people-centric solutions for tomorrow’s challenges, today.
Let’s sustain this collective momentum together, leveraging these global platforms such as WEF and HCI to facilitate dialogue, exchanging knowledge and rethinking how we future proof our people, securing a brighter future for all.
Join the Conversation:
https://humancapabilityinitiative.org
— Anas Al Mudaifer is the Chief Executive Officer of the Human Capability Development Program (HCDP), a central component of the Saudi Vision 2030 Realization Programs. His career is marked by extensive experience in public transformation, E-transformation, and strategy & management consulting, both locally and internationally. He served as the Strategy and Planning Vice President at the National Transformation Program (NTP).
