Singapore ranks third in Global Talent Competitiveness Index

Singapore is the third most talent-competitive country globally, following Switzerland at the top and the United States at second in the 2020 Global Talent Competitiveness Index.

The report launched by INSEAD, the Adecco Group and Google, finds that while the age of artificial intelligence presents tremendous benefits for humanity, AI development and the resources required for are unevenly distributed and may reinforce the digital divide.

This year’s GTCI report explores how the development of AI is not only changing the nature of work but also forcing a re-evaluation of workplace practices, corporate structures and innovation ecosystems.

“AI is changing many facets of business and society and, if properly used and governed, has potential to foster sustainable development,” said Katell Le Goulven, Executive Director of the INSEAD Hoffmann Global Institute for Business and Society.

“The GTCI report argues that with multi-stakeholder cooperation the technology could help achieve some of the SDGs such as those related to health (via personalised remote diagnosis and big data analysis to track and reduce endemic disease),” she said. “But it also points to the imperative of closing the global digital skills gap to harness the potential of AI for good.”

GTCI data and analyses show that the emergence of AI in the workplace requires a massive reskilling of the workforce at all levels.

Also, when introducing AI to organisations, communities or societies acceptability is critical for sustainability.

Further, cities are striving to become AI hubs and attract relevant talent.

While new types of collaborations between humans and machines are being developed and AI permeates economies and societies, global talent competitiveness is being redefined as countries race to best position themselves to benefit from the AI revolution.