September 6, 2023
The combination of the pandemic period, coupled with the “Great Resignation” associated with it, has created a smaller labor pool and expertise gap in many industries that Venture Capital and Private Equity are invested in. As we head into the 4th Quarter and the future, what are the issues with labor and employment as reported in the online financial press? The following are a few articles which address the trend.
WeForum.org, ’The Future of Jobs Report’
The Future of Jobs Report 2023 explores how jobs and skills will evolve over the next five years. This fourth edition of the series continues the analysis of employer expectations to provide new insights on how socio-economic and technology trends will shape the workplace of the future (with downloadable PDF attachment).
McKinsey.com, ‘What are Industry 4.0, the Fourth Industrial Revolution, and 4IR?’
Industry 4.0—also called the Fourth Industrial Revolution or 4IR—is the next phase in the digitization of the manufacturing sector, driven by disruptive trends including the rise of data and connectivity, analytics, human-machine interaction, and improvements in robotics.
EY.com, ’Beyond Borders 2023: Biotech is Facing a Complex Path Forward, Says EY Report’
Revenues normalized after the pandemic sugar high: As the demand for COVID-19 vaccines and antiviral treatments dropped, revenue leveled out in 2022 and public biotech company revenues were down 1% from the previous year.
ilo.com, ’Generative AI Likely to Augment Rather than Destroy Jobs’
Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather than taking over a role entirely, a new study from the International Labour Organization (ILO) has found.
NationwideFinancial.com, Podcast: ’What states have the highest job growth?’
With a tight labor market and wages on the rise, the current expansion rolls on. Nationwide’s Senior Economist Ben Ayers and Economist Daniel Vielhaber provide insight and analysis of regional employment trends in the U.S.
Brookings Institute, YouTube Video: ’ChatGPT and the future of work’
Center on Regulation and Markets and the AI, Analytics, and the Future of Work Initiative at Georgetown University will hold a virtual public event on the future of work in light of the development of language models like ChatGPT.
WATCH HERE (89 MINUTES): https://www.youtube.com/live/CzjRhcCuc0I?si=v0RLBINip7lbEtEQ
The IVCA is now accepting nominations through September 15th for the 2023 IVCA honorees, to be presented at the 2023 IVCA Awards Dinner, sponsored by Kirkland & Ellis LLP on December 4, 2023. For more information, click here.