Monday was the opening day of the World Economic Forum in Davos Switzerland. This annual five day event hosts many of the world’s leaders and business elite.
The WEF has earned a bit of a reputation for being somewhat prescriptive with the idea that somehow these global elites have some special right to say what is good for you and I. But if you’re willing to put that and some of the political narratives aside, there are some interesting insights to be gleaned from the WEF.
The content on the WEF website is curated in a highly sanitized way. It’s very polished and packaged. Nevertheless, there may be some insights to be gained in understanding our global economy.
The global outlook for jobs varies widely between developed economies and developing economies. In South Africa, for example, the formal unemployment rate has climbed to 30%, five percentage points higher than it was pre-pandemic.
One talk focused on the global outlook for jobs specifically related to the disruption from AI.
There is an expectation of 23% churn in the global job market as a result of AI in the next four years. 44% of core skills are going to be affected as a result of AI even in those jobs that are not displaced by AI.
As real estate investors, we need to understand the impact of these shifts.
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Host: Victor Menasce
email: [email protected]
