Creating value through innovation

Jeffrey A. Joerres, executive chairman of ManpowerGroup CHINA DAILY

Editor's note: Premier Li Keqiang opens the 2014 Summer Davos in Tianjin on Wednesday. More than 1,600 participants from 90 countries are expected to attend the three-day gathering that will focus on innovation, entrepreneurship, science and technology. Below four participants look at ways value can be created through innovation and the use of new technologies.

Although there is still concern that technology is replacing jobs, in reality the opposite is true. Digitalization and greater access to technology provide new opportunities to boost global labor productivity, expand business reach and stimulate collaboration in ways that were previously impossible.

However, to fully realize the potential offered by the digital transformation and address the current talent shortage in China, employers and educators must collaborate with the government to develop talent with skills that match the roles transformed or created by technology.

To address its talent shortage and fully maximize its technological transformation, China must develop new education models to grow a technologically savvy and adaptable talent pool.

The slowdown of China's economy has resulted in more competition for fewer jobs. This has affected the entire workforce, including previously exempt university graduates. Clearly there is a disconnect between the talent businesses need and the skills and knowledge educational institutions are teaching.

To bridge this gap and align China's talent with the skills demanded by employers, educators should focus on developing soft skills as well as hard skills, so students have the capacity to think critically, question assumptions and act quickly - both independently and as part of a team - to develop flexible solutions that meet the needs of business in today's ever-changing environment.

Also to stop or at least significantly slow the brain drain, which is both economically and socially costly, educators, regulators and employers must work together to develop professional opportunities that nurture and value talent, and outline clear paths for professional growth.

Jean-Pierre Bourguignon, European Research Council president CHINA DAILY

Expanding on-the-job training and professional growth opportunities, encouraging entrepreneurship and innovation and creating modern career development tracks will help employers build a strong talent pipeline.

There is no doubt that digital transformation will continue to drive China's growth, productivity and innovation. To sustain this process, China's employers, educators and government must collaborate in order to accelerate changes in the way talent is developed, and on how local opportunities are perceived and utilized.

Known as a cradle of learning since ancient times, China is well on the way to becoming a powerhouse for science and technology.

Both China and Europe have understood the need to help top scientific talent thrive and to encourage research that boosts innovation and competitiveness.

In 2007, the European Union took a bold step by establishing the European Research Council to invest in the most creative researchers in any field, from social sciences and humanities to physical sciences, engineering and life sciences.

The originality of the ERC lies in allowing scientific talent to pursue ambitious projects in frontier research. This type of research is performed by scientists driven by the curiosity to push the boundaries of knowledge and know-how further, without having any specific applications in mind.

History shows that without curiosity-driven science, research constrained to solving "real problems" would be routine and technological progress would remain purely incremental.

Although the impact of frontier research is often difficult to predict, this is where the real breakthroughs often happen; the laser, the identification of the DNA structure and penicillin are just a few examples of ground-breaking discoveries that sprang from such research.

A huge variety of new materials have also emerged in this way, for instance new ceramics as well as graphene, a new form of carbon considered one of the materials of the future. Such breakthroughs lead to the emergence of new industrial sectors, spur innovation, stimulate the economy, and have the potential of improving society and people's quality of life.