Countdown to Davos 2023: 120 countries consider agritech most strategically important in next decade

In over 120 countries, investments in agritech, edtech and energy-related technologies are considered the most strategically important over the next 10 years. Green and social sectors, including agriculture, education, health and energy, need to create an additional 76 million jobs by 2030, stated two new reports released by the World Economic Forum.

The reports — Markets of Tomorrow Report 2023: Turning Technologies into New Sources of Global Growth and Jobs of Tomorrow: Social and Green Jobs for Building Inclusive and Sustainable Economies — urged industry and government leaders to step up their use of technology to create the markets and employment of the future.

Also read: Union Budget 2022-23: How will ‘Kisan Drones’ benefit farmers, experts ask

The documents, released January 12, 2023, are based on more than 12,000 responses to an Executive Opinion Survey conducted by the World Economic Forum in more than 120 economies.

Markets of Tomorrow focuses on the industries and technologies expected to deliver new sources of development. The most strategically significant innovations for economies over the next 10 years are considered to occur in the agricultural sector.

Emerging agricultural technology, which ranges from low-tech irrigation techniques to precision farming drones, will ensure efficiency. It will improve agricultural production and create new green employment.

Improved public-private partnerships in this sector can steer investment to build new markets and create high-quality jobs while driving progress towards societal and environmental goals.

Also read: Applying modern tech to agriculture

Second on the list is education and workforce development, where new digital tools and platforms like metaverse learning, artificial intelligence and ubiquitous computing are spurring innovation. Following a record loss in academic days due to the COVID-19 epidemic, the industry is witnessing accelerated development.

Power storage and generation technologies came in third place globally, underscoring the pressing need to switch to low-carbon energy systems. Integrating large-scale renewable energy output into energy networks internationally depends on battery and other storage technologies, which is a significant area of current innovation and investment.

In general, these findings hold true for both high- and low-income countries, with four of the top five priority technologies being the same for all income levels.

However, climate change mitigation technology strikes a notable distinction. It is ranked as the most important technology in high-income countries but eighth across all other income groups.

Also read: Three ways farms of the future can feed the planet and heal it too

Jobs of Tomorrow assessed the number of green and social jobs required to help create inclusive and sustainable societies. Some “76 million jobs in green and social sectors are needed by 2030 across 10 economies alone: Australia, Brazil, China, Germany, India, Japan, South Africa, Spain, the United Kingdom and the United States,” noted the World Economic Forum.

Some 11 per cent of all employment in the 10 assessed economies are classified as social jobs, which include labour in the education, healthcare and caregiving sectors. In order to achieve their objectives of inclusion and social mobility, countries will have to provide 64 million more social jobs, the report added.

The annual meeting of the World Economic Forum will be held in Swiss resort town of Davos from January 16-20, 2023.

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