Solutions to major challenges facing global labour markets discussed in Riyadh

Innovators, executives and G20 labour ministers convened in Saudi Arabia on December 13 and 14 for the Global Labor Market Conference.

Delegates from more than 40 countries attended with the goal of bolstering labour market resilience both domestically and internationally.

“We realised that if we put the minds of regulators, economists, academics, employers, employees, unions and international NGOs together … we can put thought towards more prosperous global labour markets," said Dr Ahmad Al-Yamani, Vice Chair of the GLMC Scientific Committee and CEO of Takamol Holding.

The conference took place in partnership with the UN International Labor Organisation (ILO) and the World Bank, which shared the findings of its World Development Report 2023: Migrants, Refugees & Societies, with attendees.

“We're going to need increased migration and that also means we need increased intervention from origin and destination countries in a coordinated manner,” Dr. Çağlar Özden, the World Bank’s lead research economist and report co-director, told Euronews.

In his opening remarks, Ahmad Bin Sulaiman Al Rajhi, Saudi Arabia’s Minister of Human Resources and Social Development said the conference was taking place at a pivotal time for the global workforce.

“What we are seeing is the transformation of the world’s labour markets and ever more demand for the work and skills of tomorrow.”

Key discussions on the ground included the impact of AI on the global workforce, a widening skills gap? and the so-called productivity conundrum whereby innovative technologies fail to deliver expected output returns.

“A theme of this conference is Artificial Intelligence, and we know that 50% of jobs might disappear in the coming years because of AI, but definitely,