Human Capability Development should be top priority for world leaders

The rapid growth of artificial intelligence, the effects of the climate change and the large demographic shifts are three issues that will dominate the agendas of policymakers for the foreseeable future.

In January this year, global leaders gathered at Davos for the World Economic Forum demonstrated that there is a consensus that the world requires unified efforts to resolve these collective challenges.

At the heart of these discussions, there is one common thread — people. We need to place people at the heart of large-scale transformations and people-scaled, people-centric solutions are key to keeping pace with a fast-changing world through sound, future-ready programs on Human Capability Development.

Human Capability Development means that we are supporting people through education matched to labor market needs, fostering innovation, and developing and upgrading skills constantly to unleash our collaborative potential and create a better world for generations to come.

WEF’s Future of Jobs Report 2023 shows that 44 percent of workers’ skills will be disrupted over the next five years — a reminder and reality check that our skills and approach will need to constantly evolve at a pace faster than our working environment.

Statistics across just three drivers of global change — AI, climate change and an aging population — underscore the importance of Human Capability Development as a key mitigation factor to help achieve our goals in each of these domains.

According to McKinsey and Co., by 2030, 12 million “occupational transitions” may be needed in the US alone driven by a high rate of AI-managed tasks. The numbers are similar in sustainability where BCG calculates an acute skills gap of 7 million jobs in the renewable energy sector. And finally, Bain and Co. reports that 73 percent of engineering and research and development focused companies report talent gaps driven by a higher rate of attrition among older workers compared to replacement rates by younger workers.

If left unmitigated, these challenges will inevitably lead to a future filled with job insecurity, exposure to increased climate change risks, and will generally limit our ability to build and innovate across communities.

At the Human Capability Development Program — one of Saudi Arabia’s Vision Realization Programs inspired by the Kingdom’s Vision 2030 — we share the same objective as WEF and other leading global leadership platforms that, collectively, we can achieve greater good and tackle pressing issues that our societies are facing.

We have therefore launched the Human Capability Initiative, a first-of-its-kind global forum set to take place in Riyadh from Feb. 28 to Feb. 29. It will bring the brightest solutions-oriented minds together to spark discussion and dialogue on Human Capability Development to imagine what we need to be future ready, and find people-centric solutions for tomorrow’s challenges, today.

Let’s sustain this collective momentum together, leveraging global platforms such as WEF and HCI to facilitate dialogue, exchanging knowledge and rethinking how we future proof our people, securing a brighter future for all.

• Anas Al-Mudaifer is the CEO of Human Capability Development Program.