Industry Insights
Technological innovation is reshaping today’s markets and redefining tomorrow’s workplace. From developments in the EV and AI sectors to catching rockets from space, Industry Insights brings you the latest from industries driving the future.
What’s happening in Engineering, Energy, and Tech
In the company’s largest investment in the country to date, Microsoft is expanding its Northern Italy data center, aiming to train over 1 million Italians in AI and digital skills by 2025. Italy is set to become one of Microsoft's major European data center regions and will serve as a hub for the Mediterranean and North Africa.
The EU has introduced tariffs on Chinese EV manufacturers to counteract what it deems unfair state aid. Germany opposes the tariffs, citing close trade ties with China, while France, Italy, the Netherlands, and Poland support them. Car manufacturers warn that current economic conditions make EVs expensive, and poor charging infrastructure lowers consumer confidence.
SpaceX's Super Heavy booster was caught by the "chopstick" arms of the Mechazilla launch tower after its fifth launch, marking a first in spaceflight history. Not only did they catch the booster, but Starship's upper stage also completed its space journey, ending with an intentional splashdown. The company's goal is to make the rocket fully and rapidly reusable, changing the face of spaceflight.
Southeast Asia's energy demand is projected to surge, accounting for 25% of global growth by 2035. Electricity demand will increase annually by 4%, with the rise in air conditioner usage as a significant factor. Clean energy, such as wind, solar, bioenergy, and geothermal, is expected to meet over a third of the region's energy demand growth by 2035.
Germany's automotive industry struggles with the rise of EVs and China's growing influence. China is dominating the EV market, pressuring traditional European carmakers. Industry proponents, like BMW's CEO, request more time to adjust to EVs, questioning the EU's 2035 combustion engine deadline. BYD and other Chinese brands plan local manufacturing in Europe to sidestep tariffs while some European carmakers form strategic partnerships with Chinese firms.
Despite its small size, Singapore is striving to become an influential player in AI globally, leveraging its high-quality universities, innovative culture, and stringent regulations. Singapore's National Artificial Intelligence Strategy (NAIS) aims to make the country a “pace-setter” in impactful AI areas serving the public good. OpenAI expanding into Singapore exemplifies international recognition of its thriving AI ecosystem.
Trends shaping tomorrow’s world
Here are the trends to watch out for in the coming year: Reskilling and Upskilling. Four-Day Workweek. Gig Economy 2.0. Human-Machine Synergy. Human-Centric Leadership. Immersive Online Working. AI in Human Resources. Hybrid Work Environment. Future work environments require adaptability, technological synergy, and an emphasis on human potential to create productive and fulfilling workplaces.
Udemy's Q3 2024 Global Workplace Learning Index suggests that the global workforce is honing in on skills that boost productivity and leadership, with a special focus on Generative AI (GenAI) and automation. Business strategy and emotional intelligence are also gaining traction, essential for those aiming for career growth in this fast-paced market. Financial Services are placing bets on soft skills like Manager Training and Conflict Management.
Over a quarter of flexible working office employees feel they've missed promotion opportunities. This sentiment is particularly strong among the younger workforce aiming for leadership roles, with 37% of those aged 25-34 and 42% of 35-44-year-olds expressing concerns. As the workforce seeks when and where to work, companies might need to rethink their approach to retain and nurture talent.
Expert perspectives
Jess Almlie, a learning and performance strategist, reminds us that it's about being strategic partners, not just executors.
A broader definition of flexibility can retain top talent and cater to professional and personal commitments. Regardless of the work arrangement, employee needs should be considered for effective implementation.
What’s next?
From emerging technologies to new market dynamics, today’s advancements are paving the way for future opportunities. Industry Insights will continue to highlight how these shifts are reshaping what’s possible—brought to you by BPS World .