Reskilling Revolution: Preparing 1 billion people for tomorrow’s economy | World Economic Forum

Towards a Resilient Workforce Future: The Reskilling Revolution as a Driver of Equality and Sustainability

There is an urgent need to invest in human capital to foster a more equitable world, especially in the face of imminent technological disruptions and the global shift towards sustainability. The World Economic Forum has launched an ambitious initiative to provide better education, skills and economic opportunities.

At the core of this initiative is the “Reskilling Revolution,” which aims to equip the global workforce with the skills necessary to thrive in an era of automation and artificial intelligence. This initiative has formed a community of multiple stakeholders, including 16 countries and a wide range of organizations such as businesses, learning providers, labor unions, NGOs, and philanthropic organizations, all united to close the skills gap.

The challenges faced by workforces include technological advancements and potential job displacement. The “Future of Jobs 2023” report estimates that automation could make 43% of work tasks obsolete by 2027. Currently, global investment in lifelong learning is only 0.5% of GDP. However, investing in reskilling initiatives could boost global GDP by $6.5 trillion by 2030.

The Forum’s approach to the “Reskilling Revolution” revolves around three key elements: sourcing commitments, co-creating solutions and connecting stakeholders. By mobilizing national accelerators and educational alliances, the initiative aims to accelerate reskilling efforts worldwide and promote skills-based labor markets.

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