Anticipating And Preparing For Emerging Skills And Jobs

This open access book analyzes the main drivers that are influencing the dramatic evolution of work in Asia and the Pacific and identifies the implications for education and training in the region. It also assesses how education and training philosophies, curricula, and pedagogy can be reshaped to produce workers with the skills required to meet the emerging demands of the Fourth Industrial Revolution. The book’s 40 articles cover a wide range of topics and reflect the diverse perspectives of the eminent policy makers, practitioners, and researchers who authored them. To maximize its potential impact, this Springer-Asian Development Bank co-publication has been made available as open access.

The annual Asian Development Outlook analyzes economic performance in the past year and offers forecasts for the next 2 years for the 45 economies in Asia and the Pacific that make up developing Asia. Growth prospects in the region are upbeat, buoyed by favorable demand at home and abroad. A strong performance in 2017 reflected a surge in exports, which will likely abate this year and next, and rapidly expanding domestic demand. While the outlook is for steady growth, risks to it are decidedly on the downside: Trade friction could weaken recently deepened trade links, tightening US monetary policy could diminish investment in developing Asia, and rising domestic private debt may hamper growth. New technologies drive higher productivity, the foundation for economic growth, better-paid jobs, and poverty reduction. The latest technologies in robotics and artificial intelligence may threaten some jobs, however, and leave less-skilled workers behind. To maximize gains in productivity while safeguarding social welfare, governments in developing Asia should protect workers but not preserve particular jobs. Meanwhile, they should facilitate the countervailing forces in new technologies that generate new jobs. Dealing with the downsides of new technology requires synchronized effort on skills development, labor regulation, social protection, and income redistribution.

Since the turn of the millennium it has become clear that the Asia-Pacific Region is, economically, the fastest growing continent in the world, and is likely to remain so for some time despite the setbacks of the COVID-19 pandemic. Asia-Pacific's share of the world's Gross Domestic Product (GDP) doubled from 15 per cent to 30 per cent between 1970 and 2017 and is projected to account for half of global GDP by 2050. With South East and South Asia also growing rapidly, with over half the world's population and three of the world's five largest economies, Asia is soon poised to home half of the world's middle class - a class that is both the driver and the product of higher education. The quality of a country's system of higher education may be seen both as a gauge of its current level of national development as well as of its future economic prospects. It is therefore natural that the putative "Asian Century" should generate interest in the region's higher education systems which, on the one hand, share common characteristics-a fixation with credentials and engineering, high technology (especially among male students), and business degrees-while at the same time are also highly differentiated, not only across countries but also within. As such, a better understanding of higher education achievements, failings, potential, and structural limitations in the Asia-Pacific Region is imperative. This handbook presents a number of significant country case-studies and documents cross-cutting trends relating to, among other things: the trilemma faced by governments juggling competing claims of access, accessible cost, and quality; the balance between teaching and research; the links between labour markets (demand) and higher education (supply); preferred fields of study and their consequences; the rise of the research university in Asia; the lure of institutions of international reputation within the region; new education technologies and their effects; and, trends in government policy within the wider region and sub-regions.

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

A visionary guide for the future of learning and work Long Life Learning: Preparing for Jobs That Don’t Even Exist Yet offers readers a fascinating glimpse into a near-future where careers last 100 years, and education lasts a lifetime. The book makes the case that learners of the future are going to repeatedly seek out educational opportunities throughout the course of their working lives — which will no longer have a beginning, middle, and end. Long Life Learning focuses on the disruptive and burgeoning innovations that are laying the foundation for a new learning model that includes clear navigation, wraparound and funding supports, targeted education, and clear connections to more transparent hiring processes. Written by the former chief innovation officer of Strada Education Network’s Institute for the Future of Work, the book examines: How will a dramatically extended lifespan affect our careers? How will more time in the workforce shape our educational demands? Will a four-year degree earned at the start of a 100-year career adequately prepare us for the challenges ahead? Perfect for anyone with an interest in the future of education and Clayton Christensen’s theories of disruptive innovation, Long Life Learning provides an invaluable glimpse into a future that many of us have not even begun to imagine.

South Asia is heavily impacted by the devastating loss of lives and human capital from the COVID-19 pandemic and the converging technology revolution sweeping the globe. The Converging Technology Revolution and Human Capital: Potential and Implications for South Asia looks at how the region could capitalize on these technologies to accelerate its development of human capital and promote adaptability and resilience to future shocks. The convergence of technological breakthroughs spanning biotechnology, nanotechnology, information technology, and cognitive science is driven by artificial intelligence, data flows, computing power, and connectivity. These breakthroughs can improve service delivery, productivity, and innovation, but they can also exacerbate inequalities and eliminate people’s agency and empowerment. This report analyzes these trends in the region, offering a comprehensive agenda to exploit the opportunities offered by converging technologies while minimizing the risks to vulnerable populations. It proposes strategies for building public sector capacity and promoting data and technology governance frameworks in a rapidly evolving technology landscape.

This six-volume handbook covers the latest practice in technical and vocational education and training (TVET). It presents TVET models from all over the world, reflections on the best and most innovative practice, and dozens of telling case studies. The handbook presents the work of established as well as the most promising young researchers and features unrivalled coverage of developments in research, policy and practice in TVET.

The shortage of skills in the workforce is one of the major problems facing enterprises today. How American businesses and organizations intend to deal with these issues and operate in a global market under strong competition is one of their primary worries. The only logical and tangible solution to this issue is for the educational system and major businesses and organizations to begin making investments in educating more children and young adults in soft skills like the 21st-century 4Cs skills (critical thinking, communication, creativity, and collaboration) to prepare them to meet the challenges of emerging businesses and technologies. The 21st century has witnessed a rapid transformation in the global workforce and the skills required to thrive in it. Traditional knowledge-based skills alone are no longer sufficient to succeed in today’s complex and dynamic business environment. Instead, organizations increasingly value what is known as the "4Cs" skills: communication, collaboration, critical thinking, and creativity. However, a significant skills gap exists, where many employees lack these crucial abilities. This book explores the impact of the 21st-century 4Cs skills gap in organizations and how it affects their performance, innovation, and competitiveness. The 21st-century 4Cs skills gap poses a significant challenge for organizations across industries. The inability to communicate effectively, collaborate seamlessly, think critically, and foster creativity can hinder productivity, innovation, and competitiveness. As the business landscape continues to evolve, addressing this skills gap is not only a necessity but also a strategic imperative for organizations looking to thrive in the 21st century. Bridging the gap through training, recruitment, and a commitment to a learning culture will be essential for success in the increasingly complex and interconnected world of business.

With the world in the midst of the Fourth Industrial Revolution, associated labor market challenges are bringing changes to how business schools offer executive education to the future workforce. The COVID-19 pandemic has further underlined the need for such change through impacts on today’s workforce and the expected developments that ongoing technological advancements will have on the workforce of the future. This book explores the need for business schools to strategically work to redefine the concept of an innovative business school ecosystem through commitment to experimentation and innovation. The authors advocate for such change to be realized through partnerships supporting actions that ensure graduates’ and workers’ access to skills building and reskilling and upskilling. The book presents selected case studies exemplifying such an approach and highlights best practices that can be implemented in public–private as well as private–private partnerships. The Innovative Management Education Ecosystem: Reskilling and Upskilling the Future Workforce offers readers from industry and academia as well as government institutions insights that will benefit the development of innovative curricula and training programs and, at the same time, labor markets.