His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, attended the second Annual Meetings of the Global Future Councils (AMGFC), which is being organised by the UAE Government in partnership with the World Economic Forum (WEF) — Davos.
Shaikh Mohammad met a number of participants including Klaus Schwab, Founder and Executive Chairman, World Economic Forum (WEF) and said that the UAE adopts the future-making industry and develop business models to meet the requirements of future by utilising the Fourth Industrial Revolution techniques that support and improve the lives of communities and peoples.
He noted that that the great future questions required governments, international organisations and entrepreneurs to adopt new, more flexible and effective methods of development, adding “We, in the UAE, adopt a flexible model for the future to bring about a quantum leap in all vital sectors that touch the lives of people. We are looking to reach a stage where the future is clear, through learning its language and using its tools and industry as of today”.
Shaikh Mohammad further said that the Annual Meetings of the Global Future Councils represent a supportive and influential factor for the advancement of vital sectors and development of models that underpin human lifestyles and prepare societies for the future.
The Internet Of Things (IoT) is expected to contribute $10-15 trillion to the global economy over the next 20 years, with the Fourth Industrial Revolution having the potential to double global annual growth by 2035, according to Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future of the United Arab Emirates.
Al Gergawi made the comments while speaking on Saturday to the World Economic Forum’s Global Future Council. The Fourth Industrial Revolution includes such technology as articifical intelligence, robotics and IoT.
Shaikh Maktoum bin Mohammed bin Rashid Al Maktoum, the deputy ruler of Dubai, opened the World Economic Forum’s annual meeting of the Global Future Council, where 700 experts from 30 countries were present to discuss and develop strategies to help the world to prepare for a future defined by rapid technological change.
“We expect the economic forces to be determined by the capacity to innovate ... and the UAE will adopt the fourth council of industrial revolution,” Al Gergawi told delegates at the meeting, adding the fourth industrial revolution needs significant change in workforce.
Members of the 35 global future councils will interact and collaborate with leaders from the United Arab Emirates. Building on an announcement at the annual meeting of the Global Future Councils 2016 that the UAE aims to become a leading nation in the fourth industrial revolution.
“We should be able to turn the changes being brought about by the Fourth Industrial Revolution into opportunities,” he said. “Countries have successfully transformed thanks to positive changes in vital areas, and we should be able to encourage people, governments, and institutions to feel responsible for future generations,” Al Gergawi said.
Earlier in a statement, Al Gergawi said the fourth industrial revolution is already having a profound impact on societies and economies.
“ ... As we look to build a future for our country and for the world, it is essential that we embrace these forces of transformation and use them in ways that help us emerge stronger and better adapt at advancing the interests and well-being of our people. By harnessing relevant forces of change and focusing on the active roles of citizens and younger generation aspirations exciting outcomes of the 4th Industrial Revolution will be realised,” Al Gergawi said.
“While composing different council we pay particular attention to diversity and unique representation of all sectors including governments, including business, civil society, academia,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum.
“The Fourth Industrial Revolution will have a disruptive impact on business models, the economy, society and each individual. To shape a positive outcome of this revolution, the World Economic Forum has created the Annual Meeting of the Global Future Councils to convene the foremost global thinkers to accelerate the positive impact of this revolution,” Schwab said.
The two-day event will close on November 12.
10 key aims:
In building the vision for 2030, council members will be joined by leaders from the public and private sectors from the United Arab Emirates and, the focus will remain on 10 key aspects.
Future of work: Redesigning labour markets and social security systems in ways that grow economies and protect societies
Human health: Applying personalised medicine and enhancement technologies to ensure people not only live longer, but stay healthy longer.
People and mobility: Managing increasing levels of human migration in ways that benefit people on the move, their place of origin and their destination.
Infrastructure investment: Finding new ways of financing the massive investments needed to upgrade infrastructure in the age of autonomous vehicles and additive manufacturing.
Global commons: Preserving and protecting the Earth’s natural capital at a time when it is coming under increasing pressure
Decarbonisation: Identifying the technologies and infrastructure needed to accelerate the shift to a carbon-free global energy system.
Food sustainability in 2030: Meeting the nutritional needs of a global population of 8.5 billion.
Information ubiquity: Ensuring a sustainable flow of content and information that adds to, rather than detracts from, the inclusiveness of societies.
Governance in the Fourth Industrial Revolution: Maximizing the benefits of new technologies by adopting governance models that are innovative, agile and inclusive.
Ethics and values in the Fourth Industrial Revolution: Deciding the values that help us make responsible choices when we develop technology and ensure that it is only used as a force for good.