Background and Challenges

Several major technological transformations (e.g., artificial intelligence or AI, fintech, the Internet of Things, Industry 4.0) are putting the global economy on a new track. They will bring immense economic opportunities, such as new ways of doing business, new industries, new and better jobs, higher GDP growth, and better living standards. At the same time, they will create challenges for individuals, businesses, and governments. They are likely to change business models, patterns of comparative advantage, skill needs, the organization of work, and may further limit the room for maneuver of national policy. Policy actions are needed to harness the opportunities and ensure the benefits are shared by all. This Task Force will make recommendations on how to achieve well-balanced labor markets capable of matching the supply of and demand for skills in an environment of rapidly changing technology while reducing inequalities and promoting economic and social development. It also aims to provide policy advice to develop educational systems that promote equal opportunities, lifelong learning, and financial literacy. Finally, it aims to make recommendations in the areas of data security, so that the digital economy can be harnessed effectively to greatly improve prosperity and inclusiveness.

T20 on the Future of Work and Education for the Digital Age

How will digital disruptions to work and education impact economic growth into the future, and what is the T20 doing about it? Peter Morgan, Lead Co-Chair of the T20 Task Force addressing these trends, provides his insights.