Panel, Conference Presentation
Creating a 21st Century Workforce: Entrepreneurship, Apprenticeship and Lifelong Learning
Milken InstituteMichael Moe, Christine Gulbranson, Badr Jafar, Maysa Jalbout, Abbas Kazmi, Jonathan Sokoloff, Mike Moe, John Sokoloff
- Projected elimination of 50% of current global jobs within the next 20 years due to artificial intelligence, automation, and robotics.
- Anticipated shift toward continuous lifelong learning models replacing traditional education ending at age 25.
- Abdallah Al-Ghorair Foundation target to expand youth support from 750 to 1,500 individuals by the end of 2018.
- Strategic pivot by the Abdallah Al-Ghorair Foundation toward online learning and global university partnerships to replace reliance on four-to-five-year traditional degrees.
- Upcoming release of a survey to generate data on youth educational needs, addressing current regional data gaps.
- Survey findings expected to indicate student satisfaction with education content but dissatisfaction with institutional support for counseling, internships, and entrepreneurship.
- Significant growth projected for the regional e-commerce sector, which currently holds only single-digit market share despite high mobile and social media penetration.
- Potential $2.6 trillion economic unlock and 50% GDP increase by 2025 in Gulf economies if female employment rates reach parity with men.
- Cultural and structural trends including smaller family sizes and later childbearing are expected to facilitate increased female workforce participation.
- Shift toward "purpose hubs" addressing socio-economic challenges rather than replicating the Silicon Valley model for global problem-solving.
- Uncertainty remains regarding whether technology will ultimately benefit humanity collectively or exacerbate existing human flaws.
- University of California System leveraging its 1.8 million living alumni network for mentorship and investment in student entrepreneurship.
- Expectation that corporations must act as beta testers for startups, necessitating partnerships between companies, investors, and mentors.
- Goal for University of Waterloo partners to ensure students establish their own companies prior to graduation.
- Rising global millennial demand for work with purpose and community investment driving demand for internships and co-op programs in the Middle East.
- Adaptation of the University of Waterloo co-op model to achieve a 85% employment rate for students six months prior to graduation.
- Belief that entrepreneurial traits are teachable, though cultural fear of failure persists in the region relative to the US.
- Introduction of new UAE bankruptcy laws expected to encourage entrepreneurship by reducing personal liability for business failure.
- Emergence of "intrapreneurship" within large corporations as a primary innovation avenue for youth to avoid immediate pressure to launch independent startups.
- Potential adoption of failure-tolerant cultural mechanisms similar to Singapore's "Phoenix Award" to shift regional attitudes toward entrepreneurship.
- Recognition that the lack of alternatives in regions like Gaza drives relentless entrepreneurial pursuit among young coders.
- Identification of a missed opportunity to integrate arts and humanities with science, which historically drives innovation.
- Assumption that US-style entrepreneurial shifts and tolerance for failure will eventually permeate Gulf regions.
- Outlook for the next couple of decades characterized as a period of exciting job creation, specifically within regional small and medium-sized businesses.
- Pearl Initiative strategy to build system resilience by instilling corporate governance practices at the earliest stages of entrepreneurship.
- Projection that the majority of 2,000 SMEs involved with the Pearl Initiative seek capital but lack necessary governance mechanisms to protect value.