OECD: Fourth Industrial Revolution ‘exciting’ but has downsides

Face of the future: The humanoid robot Sophia was granted citizenship in Saudi Arabia, the first robot in the world to be given nationality. (Getty Images)
Updated 12 February 2019

OECD: Fourth Industrial Revolution ‘exciting’ but has downsides

  • Challenge is how to empower half of the workforce that will be displaced
  • National leaders urged to broaden their horizons and make appropriate decisions to create a better future

DUBAI: The Fourth Industrial Revolution (4IR) will be exciting and full of promise, but carries downsides, Jose Angel Gurria, the secretary-general of the Organization for Economic Cooperation and Development, said on Monday.

In a discussion with CNN’s Becky Anderson at the World Government Summit (WGS) in Dubai, Gurria said: “The danger is not just about knowing the technology that is growing at breakneck speed, but how you empower half of the workforce that will be displaced.

“The Fourth Industrial Revolution will carry with it many promises and challenges in employing technology and how to use it. Half of the workforce is going to be disrupted by technology, due to over- or under-qualification. How can we motivate and upskill those that will be displaced in the process?”

Gurria focused on the need for countries to realize the effects on labor forces and on generations yet to enter the world of work.

He also urged national leaders to “broaden their horizons and make appropriate decisions in order to create a better future.”

 

Intellectual property in the 4IR

Intellectual property governance policies promote innovation and creativity, according to the World Intellectual Property Organization’s director general, Francis Gurry.

“Effective intellectual property systems ensure that ideas are transformed into products and services that are beneficial to people,” Gurry said. “Through intellectual property, we ensure that good ideas are translated into economic products, balance of interests and competitiveness.”

In 2018 alone, 2.5 million patent applications were filed worldwide, which, Gurry said, explained the need for stricter protection laws.

China and the US lead the world in terms of patent numbers, followed by Japan.

“We have a large number of patents on artificial intelligence, so this sequence must be protected,” Gurry added. “We expect significant changes in the distribution of capacity around the world as a result of the development of artificial intelligence in robots.”

 

Mobility in the 4IR

Artificial intelligence (AI) and nanotechnologies are among the UAE’s key priorities during the 4IR, according to Mattar Mohamed Al-Tayer, Dubai Road and Transport Authority (RTA) general manager.

“The importance of artificial intelligence in the transportation sector lies in three objectives: supporting the management of major events, forecasting traffic, and monitoring and dealing with accidents,” Al-Tayer said during a session at the WGS on “The Future of Mobility in the Age of 4IR.”

He highlighted the accomplishments the RTA has made over the years, turning Dubai into one of the world’s most efficient cities when it comes to mobility and transportation.

“In Dubai, we organized with international transport companies, such as Uber and others, to provide intelligent services to community members.

“The transport sector in Dubai is moving over a million people, and this figure makes us aware of the importance of establishing a solid infrastructure that enhances transportation,” he said.

 


South Korea seeks arrest of Samsung heir in succession probe

Updated 04 June 2020

South Korea seeks arrest of Samsung heir in succession probe

  • Jay Y. Lee faces a return to jail just a little over two years after being released from detention

SEOUL: South Korean prosecutors have requested an arrest warrant against Samsung Group heir Jay Y. Lee, they said on Thursday, in the investigation of a controversial 2015 merger and alleged accounting fraud in a suspected bid to aid his succession plans.
The move spells fresh trouble for Lee, who, if arrested, faces a return to jail just a little over two years after being released from detention in February 2018.
Lee already faces trial on a charge of bribery aimed at winning support to succeed ailing group patriarch Lee Kun-hee, and which involved former President Park Geun-hye, and spent a year in detention until the bribery case was suspended in 2018.
Prosecutors said they sought Lee’s arrest on suspicions of stock price manipulation and audit rule violations, among other offenses.
In a statement, Lee’s lawyers expressed “deep regret” at the prosecution’s decision to seek his arrest, adding that he had fully cooperated with the investigation while Samsung was going through management crises.
Prosecutors have been investigating suspected accounting fraud at drug company Samsung Biologics after the Korean financial watchdog complained the firm’s value had been inflated by $3.7 billion in 2015.
Prosecutors contend the violation helped boost the value of its major owner, Cheil Industries, which counted Lee as its top shareholder, and merged with Samsung C&T, a de facto holding firm, Yonhap news agency said.
Samsung requested an outside review of the investigation to weigh the validity of the indictment and the Seoul Central District Prosecutors’ Office is following the necessary procedures, it said in a statement.
Last month, prosecutors questioned Lee, 51, over the latest investigation. He also apologized for a series of controversies around his succession planning.
Lee’s year in detention followed separate charges that he bribed Park to win government support for the 2015 merger which helped tighten his control of South Korea’s top conglomerate.