Automation, robots and globalisation are rapidly changing the workplace and governments must act quickly and decisively to counter the effects or face a worsening of social and economic tensions, the Organisation for Economic Co-operation and Development (OECD) warned.
Almost half of all jobs could be wiped out or radically altered in the next two decades due to automation, the OECD said in its latest report released this week. According to its labour director Stefano Scarpetta, the pace of change will be "startling".
Safety nets and training systems built up over decades to protect workers are struggling to keep up with the "megatrends" changing the nature of work, the OECD said. While some workers will benefit as technology opens new markets and increases productivity, young, low-skilled, part-time and gig-economy workers are vulnerable.
A gig-economy is characterised by the prevalence of short-term contracts or freelance work.
“Deep and rapid structural changes are on the horizon, bringing with them major new opportunities but also greater uncertainty among those who are not well equipped to grasp them,” said Mr Scarpetta.
The report is the latest OECD warning about risks to governments in advanced economies, which have already manifested themselves in a surge of support for populist political leaders. The organisation has highlighted a squeeze on the middle class, future jobs losses from technology and a widespread dissatisfaction in rich countries.
Changes in employment will hit some workers more than others - particularly young people with lower levels of education and women who are more likely to be under-employed and working in low-paid jobs, the OECD said.
It recommends more training and urged governments to extend protections to workers in the "grey zone", where a blurring of employment and self-employment often comes with a lack of rights.
It also added that union membership has fallen by almost half in the past three decades and one in seven workers globally is self-employed while six out of ten lack basic IT skills.
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
Abu Dhabi Sustainability Week
Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
Uber on,
Dara
