10 Big Ideas that will change our world in 2024

Coming up with predictions at any time is rarely easy. But 2023 was the kind of year that could make even the most seasoned prognosticator throw their hands up in the air.?

The once optimistic economic path for Southeast Asian countries faced a setback, affected by China's unexpected economic slowdown. Environmental sustainability rose from a distant concern to one of prominence, fueled by the increasing frequency of extreme heat waves across the region. Working from home, which was widespread amid the pandemic, witnessed a surprising acceleration in the return to office settings. And the fervour surrounding AI spread rapidly across Asia, eliciting enthusiasm among myriad entrepreneurs and enterprises, in contrast to what we could have imagined a year ago.

“Humans just aren’t very good at predicting,” Freakonomics Radio host Stephen Dubner recently warned LinkedIn News. He’s got a point (and an episode about it). But we can’t help ourselves. And that’s okay, as long as we are clear on why we’re making predictions in the first place: At their best, predictions help us expand our sense of what’s possible. They may not come true, but they can help us see the world through new eyes.

Every December, LinkedIn editors ask our community of Top Voices and experts to share the Big Ideas they believe will define the year ahead. The result is 10 ideas that reflect on where we’ll go from here — at work, at home and beyond.?

This is by no means a complete list, and we invite you to join us. What Big Ideas do you think will emerge in 2024? Share your thoughts in the comments or publish a post, article or video on LinkedIn with #BigIdeas2024. — Scott Olster and Satoshi Ebitani

P.S. Check out our colleague Beth Kutscher's of what we got right — and wrong — in last year's Big Ideas predictions. And you can see our local Big Ideas for Australia, Brazil, Canada, DACH, France, India, Italy, LATAM, Mexico, Middle East, Netherlands, Pan-Europe, Spain, Türkiye, the UK and US.

1. Expect an “unretirement” wave in 2024

The workforce is likely to stay pretty crowded this coming year.

Inflation is still high, interest rates are unlikely to fall by much and most people haven’t been saving enough for their golden years. This means many of the eldest members of the workforce are feeling strapped for cash and are pushing off retirement or reneging on it altogether.?

“The current generation looking to retire face much more challenges compared to previous generations,” writes Kenneth Goh, Senior Client Advisor at UOB. Ee Chien Chua says that preparation is key in being ready for retirement financially.?

Only 4% of Malaysians could afford to retire, according to the Employees Provident Fund (EPF) calculation. For many, their retirement funds are running dry as Malaysians took RM145 billion out of the pension funds to cushion the impact of the pandemic.??

Meanwhile, over 40 percent of companies in Japan hired people aged 70 or more in 2022 amidst labour shortages owing to the nation’s ageing population, reports Nikkei Asia. One 81-year-old told Nikkei that she was “happy to make myself useful because I don’t want to be left behind socially.”

In Singapore, the majority of those aged 50 and above support raising the reemployment and retirement ages, according to a survey.?

The trend could have positive impacts on the workforce. Research featured in Harvard Business Review finds that teams that span generations have differing but complementary abilities and skills that can lead to more productive collaboration and stronger overall performance. But “this is only if team members are willing to share and learn from their differences,” researcher Megan Gerhardt notes. — Taylor Borden and Serla R.

??For more on the future of retirement, follow Kenneth Goh and Ee Chien Chua

2. We’ll move away from a ‘growth at all costs’ economy

In 2024, we’ll pay attention to how our economic decisions impact the things that let us all thrive, like community, creativity, nature and hope for the future. And we will incorporate these values in how we measure economic progress, putting GDP aside.??

Economies focused on growth alone have brought us to the edge of planetary collapse while leaving many of us mired in anxiety or despair. In 2024, governments, companies and individual people will say enough is enough.

While Asia will continue to be a major driver in the world’s GDP growth, workers in Asian countries such as Singapore are increasingly prioritising life outside of work. A recent survey found that work-life balance has surpassed salary as the primary factor for workplace happiness among APAC employees.

Bhutan has been a shining example, with the country having attached great importance to its Gross National Happiness Index in shaping its policies.

The OECD Better Life Index is one indicator that provides a yardstick to better measure what we really want our economies to deliver, putting profit in its place as a means to good health, educational attainment and economic opportunity, not as an end in and of itself.

However, it’s not as simple as just replacing GDP with better measuring sticks. What kinds of actions can we take to build an economy that values people and the planet? — Alex Kantrowitz and Ting Wei Toh .

??For more on the future of economy, follow Rob Squires

? Also check these Top Voices to get more insights about finance & economy.

3. The ‘sleep economy’ will awaken

As professionals increasingly make their way back to the office and employers revert to their pre-pandemic operating models, expect a rude awakening: The shift in work styles may lead to the same psychological strain and sleep struggles so many experienced when the pandemic first hit.?

Sleep deprivation is a significant issue, particularly for people in Asia. According to a 2021 OECD survey, the average global amount of sleep was 8 hours and 28 minutes. In contrast, the average amount of sleep for Japanese people was 7 hours and 22 minutes, the shortest among the 33 countries surveyed. South Korea ranked second-worst, with an average of 7 hours and 51 minutes of sleep.

And people have indicated that they will go to great lengths to get a good night's rest. Two-thirds of Singapore-based travellers want to book holidays where getting good sleep is the key focus.

A growing cohort of companies are powering a burgeoning “sleep economy” to address these challenges, offering everything from wearable devices that track the quality and quantity of your slumber to mattress covers equipped with sensors that can adjust your bed’s temperature throughout the night to give you an ideal night’s rest. The makers of Pokemon are even getting in on the action with an app that rewards users with Pokemon the more sleep they get.?

Expect employers to jump on the sleep bandwagon, as business leaders increasingly recognize the emotional, physical and economic toll of pulling all-nighters to get work done. We’ll see companies start to subsidise the purchase of sleep tracking devices for their staff and offer access to sleep specialists as part of their wellness offerings.?

The business world’s perception of sleep is changing, Thrive Global CEO Arianna Huffington, writes on LinkedIn: “When tech CEOs are bragging about how much, instead of how little, sleep they get, it’s a great sign of how times have changed. — Satoshi Ebitani

??For more on the sleep economy, follow Arianna Huffington and David Ko

??Also check these Top Voices to get more insights about work-life balance.

4. Fertility gimmicks will fade, and nations will get real about population decline

Wealthier nations have a population problem, and they won’t be able to solve it with money alone.?

Concerns around climate change, the rising cost of living and shifting career priorities have put a damper on fertility rates, setting off a “demographic winter” across developed economies. This year, China joined the ranks of nations experiencing population decline, a first after 60 years of growth. And Thailand has also sounded the alarm as declining birth rates could see its population drop by half in the next 60 years.

To prop up their populations — and secure their economies — governments from Japan to Italy, South Korea and Singapore have tried everything from offering parents “baby bonus” payments, tax incentives and interest-free loans. These policies have barely made a dent.?

Critics argue these incentives are falling flat because they fail to address what’s really keeping people from having children: If you aren’t affluent, it’s extremely hard to make a decent living and start a family, and there are few signs it’s going to get much easier.?

Some countries, like Singapore, are acknowledging shared parenthood by doubling paternity leave to 4 weeks. However, beyond addressing material needs, there is a crucial need to foster a supportive workplace environment. Andrea Wong, Managing Director at Robert Half, emphasises the importance of establishing guidelines for conversations about family planning

“For those going through fertility treatments, miscarriages, or other family planning challenges, a supportive workplace can make a significant difference,” Wong writes on LinkedIn.

Indeed, workplaces can make a difference. A Japanese company, for instance, banned late-night office work, resulting in increased productivity and a doubling of the fertility rate among full-time employees. Could similar changes help address Asia’s declining birthrate? — Natalie MacDonald

??For more on working parents, follow Roshni Mahtani Cheung,?Jodi Geddes and Samantha Payne

5. Meds en route before you consider the doc

With advancing technology, preventive prescriptions could be issued based solely on the analysis of data sources, including medical records, exposure risks, and more. So before you even think about seeing the doctor, you will find a prescription already on its way to you.

A prime example of this transformative approach is seen in how Fresenius Medical Care has leveraged machine learning and cloud computing to develop a predictive model that can identify potential life-threatening complications in kidney dialysis patients. This proactive approach allows for timely intervention, potentially saving lives and reducing the burden on healthcare systems.

According to Dr. Timothy Low, CEO and Board Member of Farrer Park Hospital in Singapore, to fully realise the benefits of predictive healthcare, an interconnected ecosystem is needed that fully integrates AI technology into various hospital operations. This includes government data platforms, population health agencies, payers, and other providers in a collaborative effort that emphasises data sharing for efficient and convenient healthcare.

In Singapore, NUHS' Horus Initiative gives us a glimpse into the future of predictive healthcare. This big data AI initiative connects multiple hospitals and clinical locations to enhance the efficiency and effectiveness of healthcare delivery. It enables earlier detection and identification, population health monitoring, and improvements in clinical care. — Adrian Tay

??For more on the future of healthcare, follow: Timothy Low and Juliana Chan

6. Time is money: Paying job seekers for interviews

Picture the disappointment job hunters feel as they sacrifice their work hours and dedicate themselves to endless interviews with no certainty of landing the job.?

“Candidates exhaust their resources and emotional energy in interviews that offer no compensation for their efforts. This lack of acknowledgment can deter talented individuals from pursuing opportunities that might be the perfect fit for them,” says Ratna Juita, a personal branding coach from Singapore.?

According to Michael Page’s Talent Trends 2021 report, nine out of 10 respondents recounted frustrating experiences during interviews. More than half of them stated that these dissatisfactions would eventually affect their decision to accept a job offer.?

As the fight for top talent gets more intense, organisations are shifting their approach and focusing on the candidate experience as a way to set themselves apart, reports Michael Page.

Benjamin Loh, a business owner and professional speaker from Singapore, is paying candidates for job interviews. His company, Top of Mind, conducts paid interviews for creative roles. He recollects a candidate telling him how he feels valued for his creative work.?

“A dollar value (even a modest one) can benefit both the candidates and employers. If implemented, it will probably be the best decision that businesses will make in 2024.”?

Juita adds that by doing so, companies can nurture a more respectful and empathetic recruitment process, reinforcing a candidate’s self-worth and ultimately attracting the talent best suited for their needs.?

Singapore-based career coach Chuen Chuen Yeo agrees. She says, “Compensating qualified candidates shows you respect their time. When you increase your pool of eager candidates, you'll find your ideal person in double quick timing.”?

“It will also encourage hiring managers to be more discerning, more intentional in asking the right questions,” she adds. — Cayla Dengate and Neha Jain Kale

??For more on the future of hiring, follow Ratna Juita, Benjamin Loh, and Chuen Chuen Yeo.

??Also check out this Top Voices Jobs & Careers article to find more insights.

7. Gig work for the C-suite

The gig economy first made a wave among Gen Zs and then expanded to consultants and software engineers. Will the trend eventually reach the C-suite executives?

Fractional executives – part-time leaders often working on a contractual basis at multiple companies – are trending, reports Society for Human Resource Management.

“We are getting inquiries on this sort of thing, sometimes while we are doing an executive search, to fill the gap until we find the next leader. This is happening in finance, operations, IT and HR,” says Ash Athawale, senior group managing director of staffing and recruiting firm Robert Half.

Alexia MacPherson, founder and CEO at Messeji Singapore, has been on all sides of the fence – from a VP in a $4B tech company, to a SaaS founder, a consultant and a fractional. She believes that the trend, if executed well, can benefit organisations, especially startups, in more ways than one. “The slowdown in VC funding means startups need longer runways and a clear path to profitability. A fractional CFO, could be a lifesaver when it comes to optimising cash flow and managing burn,” she says.?

But it's not all black and white. It can come with its own set of challenges. “Whoever is coming from the corporate world, you’ll have to rewire your entire way of working. No more ‘patient leadership’, no more delegation. You have to be quick, intentional, and lead from the front. It’s do or die,” she suggests.

“You will also need to challenge the key stakeholders, regularly. Startups are fast paced and chaotic but you still need to ensure you’re moving in the same direction,” she adds. — Misa Han , Marty McCarthy and Neha Jain Kale .

??For more on the startup trends and future of work, follow Alexia MacPherson

8. Air travelers, get ready for a bumpy ride

Climate change is making flights dangerously bumpy. In June, five British Airways crew members were injured after the flight bound for London encountered severe turbulence forcing it to turn back to Singapore. A month later, two people were injured when a domestic Air China flight ran into rough air while flying from Shanghai to Beijing.

The culprit is often clear air turbulence, a treacherous condition that is invisible to pilots and undetectable on most current radar systems. As the earth heats up, more warm air rises from the ground to the jet stream, where it scrambles the fast currents that planes like to catch to reach destinations more quickly with less fuel.

Over the past four decades, this type of turbulence has increased by up to 55 percent in some regions around the world, according to research from the University of Reading. In a follow-up study, the same researchers predicted clear-air turbulence in some areas could triple in the next three to six decades.

Airlines will get better at predicting this turbulence as various technologies like sensors, satellites and data modeling powered by artificial intelligence come to market. But many of those technologies are several years out. For now, we’ll all do well to heed the airlines’ warnings to keep our seatbelts fastened at all times. — Jessi Hempel and Adrian Tay

??For more on the future of aviation, follow Lim Khoy Hing

9. We'll enter the age of bionic prosthetics

The science fiction of the 1970s will become the nonfiction of the 2020s with the wide-scale use of bionic prosthetics. Prosthetics have always been viewed as an almost sad replacement for lost limbs and in fact there is evidence that almost half of upper-limb prostheses have been discarded due to factors including excessive weight and poor functionality. That is about to change. Tomorrow’s prosthetics will be made of new materials including silicone and even spider silk that are lighter weight and astonishingly natural looking.?

Developments at the intersection of biology, AI-powered software (anticipating and enabling movement) and hardware (including air muscles which distribute power through tubes holding highly concentrated pressurised air and ferrofluids fluids that facilitate humanlike movement) will combine to create replacement limbs that seem "bionic" with levels of agility and strength that may be well beyond that of the original limb made of old-fashioned flesh, blood, muscle and bone.?

But what is power without control? Scientists in South Korea have recently developed a bionic interface for the high-precision control of robotic arms and legs. This innovation is expected to improve the quality of life for amputee patients.

Japanese researchers have gone a step further by developing wearable robot arms that would make the wearer look like Doctor Octopus from the Marvel Comics. The technology is rooted in the idea of "jizai", a Japanese term that roughly denotes autonomy and the freedom to do as one pleases. - Alec Ross

10. Your latte will come with a side of levy

First, they targeted the straws. Now, the cups??

In 2024, expect a growing chorus of governments and cafes to introduce surcharges for disposable cups to combat environmental harm and waste.?

South Korea appears to be at the forefront of this. In December 2022, the two regions of Sejong and Jeju mandated a surcharge of 300 won (25 US cents) per drink for consumers buying in a takeaway cup. This fee is refundable upon the return of the cup for recycling. Seoul is set to follow suit, and Starbucks plans to stop using disposable cups by 2025 there. However, it remains hesitant to implement an all-out ban.

Around the world billions of cups are thrown away each year and few are truly recyclable. Each year, Japan alone throws away more than 3.9 billion cups, while Hong Kong sends 400 million disposable coffee cups to landfills.

The Netherlands and parts of Australia are moving for an all-out ban on single-use and plastic cups respectively, while in Asia Starbucks and some local coffee chains have been giving "bring-your-own-tumbler" discounts for each purchase made with a reusable cup. — Polly Dennison and Adrian Tay

??For more on the circular economy, follow: Alexandra Mercz, Mathilda d’Silva, Felipe Daguila, Jessica Cheam, and Claus Nehmzow

What will you be watching in the year ahead? Share in the comments or publish a post, article or video on LinkedIn using #BigIdeas2024.

Reported and proofread by: Adrian Tay

Community Manager: Alita Utari Dewi

Managing Editor: Satoshi Ebitani

Special Projects Leads: Natalie MacDonald (APAC), Michele Pierri (International), Scott Olster and Josh M. Carney (Global)

Regional Lead: Pooja Chhabria ?

International Executive Editor: Sandrine Chauvin