“People who have different ways of thinking about the world are absolutely critical”
Paul Donovan, Chief Economist at UBS Global Wealth Management, spoke to CTech at Meet&Tech to discuss the importance of diversity in the workforce during the 4th industrial revolution
“Because of the way technology is changing how we work, what becomes really important is how we get the absolute most out of technology, and that's where getting the right person, in the right job, at the right time, becomes absolutely critical,” explained Paul Donovan, Chief Economist at UBS Global Wealth Management. The structural change in our workforce brought on mainly by technology has often been described as the 4th industrial revolution - and it's something that affects all aspects of our society.
One of the most important elements of future workforces will be the need for diverse opinions, according to Donovan. “\[Diversity\] can be racial background, it can be gender, or it can be sexuality… \[but\] people who have different ways of thinking about the world are absolutely critical. If you have got a monoculture sitting around the table, if everyone making the decisions is a white Anglo-Saxon middle-aged bald man… you've got monocultural thinking, you're going to miss the opportunities, and what's worse is that you're going to miss the risks,” he explained.
You can watch the entire exchange in the video above.