Saudi Gazette

RIYADH – The Misk Global Forum invited innovators and thought leaders to prepare youth for the fourth industrial revolution. Saudi Arabia showed it wants to embrace change on its way to transfer to a knowledge-based economy.

57% of young people around the world are unfamiliar with the concept of the knowledge economy, according to a research study conducted by Populus on behalf of the Misk Foundation that surveyed 21,000 young people in 21 countries where there is a growing youth demographic.

Young people around the world are not fully aware of the economic changes and challenges of the knowledge economy that are already shaping how people will live, learn and work, the study revealed.

The topline findings from the Global Youth Survey, undertaken by Populus on behalf of the Misk Foundation, revealed that 57% of young people around the world are unfamiliar with the concept of the knowledge economy. On top of this, more than half fear that are not sufficiently tech-savvy to access the opportunities that will arise from the rush of technological progress in areas such as data mining, machine learning, and blockchain. Yet the world of technology is central to young people’s lives: Globally, 88% of 16-35s use social media and are as likely to cite limited internet access as they are issues like addiction or cyber-bullying as problems.

The survey, which interviewed young people in 21 of the world’s leading economies, also revealed stark differences between emerging economies and the G8. In Argentina, Mexico, Brazil and the USA, 95%+ of young people regularly use social media, yet in India, Nigeria, Indonesia and Pakistan, fewer than 30% have internet access, with those three countries alone representing a quarter of the world’s population.

Divisions are also evident between young people in urban and rural environments and between those with high and low incomes. With young graduates from urban areas, and those with high incomes, better able to access the education and networks that will equip them for the knowledge economy, the research suggests that we run the risk of the ‘Fourth Industrial Revolution’ entrenching social divides – not ending them.

"The focus is to underline ways that we need to empower and develop young people in order for them to face the challenges of the fourth industrial challenge," Shaima Hamidaddin, executive manager at the Misk Foundation told Saudi Gazette. "We hope to share findings for that report with educators, researchers, policymakers to get the conversation started to assume the new roles of the new economy."

"Let us adopt technologies that add value to our lives and keep hope alive in our Arab youth, for they are our source of pride," said Queen Rania Al Abdullah of Jordan in a speech, emphasizing on overcoming the challenges in the Arab world. "I met so many young Arabs who have risen by the merits of their innovations, overcoming the most extreme odds to shine in scientific and literary fields."

Leaders from tech companies Khan Academy, IBM, LinkedIn and Amazon shared insights on the digital transformation and future of jobs.