The Gulf sovereign funds, historically financed by oil revenues, accumulate long-term savings through diversified investments. During the 2007-2008 financial crisis, they rescued the financial system, and now lead investments in artificial intelligence and energy transition, with assets growing from $2 to over $5 trillion in a decade, representing nearly 40% of global sovereign funds.
Researchers used artificial intelligence to analyze the historical impact of technology on work, identifying replaced, improved and beneficiary jobs. The study also predicts future impacts of AI on employment, generating debates on possible replacements and their political implications.
The Workforce of the Future initiative aims to modernize labor records in the US to quickly identify needed workers and their skills, reduce bureaucracy, and improve response to disruptions like the pandemic. Examples from Germany, Australia, and Brazil show that standardizing formats and coordinating between agencies improve data quality and response agility to crises.
The report highlights the need to modernize employment records for labor policy and social inclusion. Integrated systems of leading countries offer better insights for public policies. In the US, centralization in state systems of unemployment insurance limits effectiveness by excluding key data. Modernization towards a worker-centered infrastructure is crucial to respond to the advancement of artificial intelligence in the labor market. International practices are proposed to improve transparency.
Artificial intelligence poses economic growth and labor saturation. Automation impacts salaries in a non-linear way. An integrated model predicts the impacts of AI on economy and computer science.
