Industry Insights
Learn about what’s happening in the industries that pave the way to the future. We look at infrastructure developments, regional differences in nuclear energy development, global green energy initiatives, and workforce management insights for modern businesses.
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What’s happening in Engineering, Energy, and Tech
Deutsche Bahn reports Project Stuttgart 21, one of the largest projects to modernize Europe's railway infrastructure, is delayed by a year. Operational testing is now set to start in December 2025, with Stuttgart's main station opening in December 2026. The delays are due to extensive new equipment testing, including digital systems and onboard European Train Control System devices.
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Currently, China has 27 reactors under construction with average build times of about 7 years. While the U.S. holds the largest fleet of nuclear reactors, no new reactors are under construction after the most recent projects in Georgia that went massively over budget and delayed. To remain competitive, the U.S. needs increased R&D investment, technology acceleration, and skilled workforce development.
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Infinite Green Energy (IGE), an Australian company, targets producing 12 tonnes of daily green hydrogen in Italy by H2 2026. The Valle Peligna, Abruzzo plant is set to be Southern Europe's largest green hydrogen site, aiding Italy's wider energy migration. IGE's learning from the Valle Peligna project will be applied back in Australia and potentially expanded to Asia.
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This year's theme, “Green Innovative Digital Connectivity,” attracted over 3,500 leaders and 200 speakers to discuss energy, digital trends, and sustainable development. The event featured showcases in clean energy, smart cities, and digital integration. Over 15 years, the forum has attracted 30,000+ attendees and was pivotal in over 180 international projects worth over $100 billion.
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The country challenges Singapore's dominance, backed by a demand surge for cloud and digital services. Its strategic location, cost-effectiveness, and government incentives are also attracting investments. Though Malaysia and Singapore are competing in this space, it may lead to increased cooperation and innovation in tech sectors, benefiting Southeast Asia's data center industry.
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A recent survey by DNV found that 68% of oil and gas leaders are optimistic about growth in the face of energy transition challenges. Despite issues like higher interest rates and supply chain disruptions, new revenue streams are emerging. However, executives still worry about insufficient new oil and gas capacity investments.
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Trends shaping tomorrow’s world
Shifts in the labor market and economic conditions are affecting how companies attract and manage talent. The trends reflect the dynamic nature of the workforce and the evolving strategies businesses must adopt to stay competitive.
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According to the report, retention is the top HR priority while it comes in second for operations. Based on their findings, the CEO of Gallagher's Benefits & HR Consulting Division recommends that employers prioritize aligning employee experiences with generational expectations and offer appealing benefits to retain staff.
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Wells Fargo has hit the news for firing employees over "simulated keyboard activity," suggesting a deeper trust issue. This signals a potential setback for the acceptance of remote/hybrid work arrangements. More employers are watching employees, especially remote workers, which raises questions about trust and inclusion within companies.
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Expert perspectives
Back in May, the UNLEASH America 2024 expo brought together HR leaders from around the world. Here are some key takeaways from the event.
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Jess Von Bank, global thought leader in HR transformation, digital experience, and workforce technology at Mercer, discusses why it's critical not to jump to technology solutions before understanding the problem thoroughly.
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What’s next?
Whether you’re working on large-scale mega-projects or just trying to get one step closer to your goals, challenges and setbacks are just part of the process. Preparation is key to your chances of success.
Reach out to BPS World to attract, recruit, and retain the right people to help you face anything that comes your way.
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