World Economic Forum names main global risks for next ten years
BAKU, Azerbaijan, Feb.4
By Sadraddin Aghjayev - Trend:
Experts of the World Economic Forum (WEF) named the main global risks for the next ten years, Trend reports referring to the WEF.
According to the WEF, the growing digital divide and the negative impact of technological advances such as artificial intelligence are among the risks.
The organization report noted that one of the best ways for entrepreneurs to maintain their business is to reduce short-term risks and invest in employee training.
“Companies must invest in continuing education programs to provide students and workers with the digital tools to succeed in the markets of the future. We've already seen employers tackle this challenge in the second quarter of 2020, where the provision of online learning opportunities by companies has grown fivefold,'' said Emilio Granados Franco, Head of Global Risks at WEF.
Franco also noted that the development of technology will lead to massive unemployment around the world.
“In a slightly longer-term (3-5 years), the most relevant events may be the collapse of the asset bubble (the value of which is now supported by the monetary easing policy), the collapse of the IT infrastructure, price volatility, shocks in the commodity markets and the debt crisis,” said the forum message.
Moreover, geopolitical tensions will remain, failures in the field of protection against cyber attacks and the emergence of risks associated with digitalization are expected, the message reads.
According to the WEF, only 28 countries of the world showed growth at the end of 2020.
The assessment of global risks is formed on the basis of a survey of 650 experts.
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