2. Proposal
This skill development from the 21st century was used in the Vision 20 workshop
held to boost wages and social mobility. As well as the Accelerating labor market
dislocation from digitalization, where it discusses the issues of how rapidly the
innovation of digitalization will be affecting the labor force in the future.
3. Political Challenge of the new global context
Workers pay in the U.S as a share of economic output dropped from 64 percent in
the early 200s to 58.4 percent in the third quarter of 2016. Unemployment in
france is 10 percent, compared to 4 percent to Germany, as well as youth
unemployment in france is 25 percent. Eighty percent of new jobs in france are on
short term, one month contracts.
4. G-20
The summit presents a political movement for leaders to forge a response to
rising public concerns about economic insecurity, income disparities,
technological changes, and disruptions in job markets. G-20 countries are the
largest economies in the world, the recent political backlash against globalization
is a grave concern to the leadership of these important countries, both as leaders
of the global economy and as national leaders of key countries with more intense
challenges managing the interface between domestic concerns and global
engagement.
5. G-20
The G- 20 needs more agile governance to help create better structured policies
from the increasing level of the dislocation of labor markets that are being run
over by the automation due to the digitalization. The benefits of digitalization is
that it’ll drive up GDP growth and will be necessary to offset the declining growth
in the global labor force. The impact of dislocation is now expanding to white
collar as well as professional jobs it is accelerating rapidly because of Moore's
law, which observes that the numbers of massive transistors of chips doubles
every 3 years.
6. The Issue
They need to figure out how to develop a new program in which private companies
as well as corporations will actually be motivated to scale up their investments in
skill training for their workforce. This program would have the effect of increasing
their economic competitiveness as well as increasing the workers real incomes,
so that the technological change will not displace more workers than it employs.
Business leaders are looking for these opportunities for the private sector to take
responsibility for their own competitiveness as well as making a visual
contribution to the social mobility and rising income to forge inclusive societies in
which the middle income workers are rewarded for their value.
7. Robotics
A1 technologies- Robots are becoming more mobile friendly and are taking on a
lot of tasks like wind turbine maintenance, the costs are falling and robots such as
Baxter are being designed to work alongside and to be directed by humans
without explicit programming. Robotic process automation has had diagnosis
programs that show tests that were done more accurately than radiologists.
These robots apply less structured work and are predicted in the Boston
Consulting group analyst of global manufacturing to automate 25 percent of all
tasks by 2025.
8. A1 Software
As A1 software becomes more of a critical element that drives up performance,
we will see a big adaptation of these new innovative performances. The marginal
costs of replacing the everyday worker with a robotic system would be 130,000 a
day, however the marginal cost of applying the A1 software to white collar jobs is
related to how little it is to download the A1 software into existing infrastructure.
9. The Proposal to increase investments in skill
development
They would like to provide tax credits to companies that would make an increase
investment in the skill development training program for their workers, this would
compensate the firms for the training costs and the time off the workers would be
taking off from work for the technical skills provided. This would increase the
value of the workers as well as making a huge contribution to the firms by the
higher value of its employees. Over time they would even be increasing their
income with the new technical skills they’ve developed with the new initiative.
10. Current training
The current government funded programs that do allow training to workers aren't
as effective, for instance, incentivizing investments by companies that are
committed to employ the workers being trained ensure that the market force
focuses on candidate equipped to do the job and drive training investment that
meet the real employee demands. The new U.S administration is proposing to
reduce the current corporate profits tax rate from 35 percent to 20 percent to
encourage investment.
11. Skill training program in the U.K
Levy grant program is run by the Construction Industry Training Board (CITB)
which has been around for over 50 years it’s a system that ensures that the
construction industry has trained and skilled workers so that it’ll be able to
continue to grow. The program collects funds from the construction employees
and it reinvests the money into the industry to help the training and skill
development for the workers. The current number of the new trainees is 15,003
costing 129 million British pounds.
12. Conclusion
The idea is to create an innovative policy that leans on the focused scaling up
effects of interest on the private firms, as well to add better valued skills for the
workers. I hope that in the future there will be a better formation so that our jobs
won't be taken over by these robotics and new ideas that are emerging in our 21st
century.
13. Cites
Collon L Bradford, and Roger Burkhardt
https://www.brookings.edu/research/proposal-to-accelerate-social-mobility-
incentivizing-greater-private-investment-in-the-skill-development-of-21st-century-
workers/
https://www.brookings.edu/research/addressing-the-accelerating-labor-market-
dislocation-from-digitalization/
