Human skills must be at center of tech advances, experts tell WEF

Panelists at the World Economic Forum discussed the use of rapid technologies for a more resilient world. (Supplied)
Short Url
Updated 17 January 2023
Follow

Human skills must be at center of tech advances, experts tell WEF

  • Panelists agreed that the advantage of emerging trends is based on their ability to serve human needs

DAVOS: Human skills will remain crucial in managing the new digital revolution, experts told the World Economic Forum’s annual meeting in Davos.

In a panel discussion on technology’s role as an accelerator of progress, experts agreed that the advantage of emerging trends is based on their ability to serve human needs.

Julie Sweet, chairperson and CEO of Accenture, said that to properly manage the emergence of megatrends, such as artificial intelligence, the metaverse, 5G and quantum computing, companies and governments must focus on improving people’s skills.

With different demographics among countries, the common solution is to “focus on skills instead of jobs and roles,” she said.

Sweet urged governments and companies to utilize employees’ interest in digital literacy and consumer daily use of technologies as a “positive momentum for solutions.”

While platforms such as the AI-driven ChatGPT can be beneficial for education, it will need “efficient human skills” to feed it with “clean data,” Sweet said.

Even the rapid growth of the metaverse lies in “tapping into human need and creating something new, which doesn’t exist,” said Sweet, who estimated that $1 trillion revenue will be influenced by the metaverse by 2025.

Cristiano Amon, president and and CEO of Qualcomm Incorporated, said the acceleration in technology adoption in businesses is increasing connectivity, performance and productivity.

Merging the physical and digital spaces will form the next-generation computing platforms, he said.

Discussing whether AI will replace humans in the workplace, Sunil Bharti Mittal, chairman of Bharti Enterprises, said jobs lost amid the shifting labor market will be replaced by new areas of work created by technologies.

“Instead, we must start to think of a life where AI is going to play a fundamental role in our daily lives in areas such as material science, chemicals, biochemicals and human life issues,” said Mittal.

Arvind Krishna, chairman and CEO of IBM, said that concern should be focused on clerical white-collar jobs, which are more likely to be replaced by AI than those requiring physical labor.

“What will you create to replace those? That’s where we have to focus,” he said.


Closing Bell: Saudi main index closes in red at 10,947 

Updated 19 February 2026
Follow

Closing Bell: Saudi main index closes in red at 10,947 

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 208.20 points, or 1.87 percent, to close at 10,947.25. 

The total trading turnover of the benchmark index was SR4.80 billion ($1.28 billion), as 14 of the listed stocks advanced, while 253 retreated. 

The MSCI Tadawul Index decreased, down 25.35 points, or 1.69 percent, to close at 1,477.71. 

The Kingdom’s parallel market Nomu lost 217.90 points, or 0.92 percent, to close at 23,404.75. This came as 24 of the listed stocks advanced, while 43 retreated. 

The best-performing stock was Musharaka REIT Fund, with its share price up 2.12 percent to SR4.34. 

Other top performers included Al Hassan Ghazi Ibrahim Shaker Co., which saw its share price rise by 1.18 percent to SR17.20, and Saudi Industrial Export Co., which saw a 0.8 percent increase to SR2.51. 

On the downside, Abdullah Saad Mohammed Abo Moati for Bookstores Co. was among the day’s biggest decliners, with its share price falling 9.3 percent to SR39. 

National Medical Care Co. fell 8.98 percent to SR128.80, while National Co. for Learning and Education declined 6.35 percent to SR116.50. 

On the announcements front, Red Sea International said its subsidiary, the Fundamental Installation for Electric Work Co., has entered into a framework agreement with King Salman International Airport Development Co. 

In a Tadawul statement, the company noted that the agreement establishes the general terms and conditions for the execution of enabling works at the King Salman International Airport project in Riyadh.  

Under the 48-month contract, the scope of work includes the supply, installation, testing, and commissioning of all mechanical, electrical, and plumbing systems.  

Utilizing a re-measurement model, specific work orders will be issued on a call-off basis, with the final contract value to be determined upon the completion and measurement of actual quantities executed.  

The financial impact of this collaboration is expected to begin reflecting on the company’s statements starting in the first quarter of 2026, the statement said. 

The company’s share price reached SR23.05, marking a 2.45 percent decrease on the main market.