Industry Insights
Discover how the latest projects and policies are paving the way for a greener, more sustainable future. Exciting developments in renewable energy and nuclear fusion are on the horizon, while the business world adapts to new workforce dynamics and hiring challenges.
What’s happening in Engineering, Energy, and Tech:
This innovative project is part of RWE's OranjeWind and looks to revolutionize offshore renewable energy. Set to be located off the Dutch coast, it's a 5 MW offshore floating solar system designed for sustainability. Once deployed, the solar system is planned to be integrated with RWE’s 800 MW OranjeWind offshore wind farm.
Intel and Micron are poised to grab the lion's share of the $52 billion CHIPS Act funding, aiming to boost U.S. semiconductor manufacturing ahead of the 2024 presidential election. The U.S. has already funded projects to the tune of $35 million for BAE Systems and $162 million for Microchip Technology for defense-related chip production. Despite all efforts, the U.S. remains heavily dependent on Taiwan for chip production, raising concerns about national security.
Romania's solar energy sector is on the rise, having closed 2022 with an impressive 1.7 GW of installed PV capacity. The forecast looks even brighter—2.5 GW by the end of this year and a whopping 11.2 GW by 2030. Come April 24, 2024, the Solarplaza Summit Romania will open its doors in Bucharest, offering a chance to get local insights and explore opportunities in the country’s growing solar sector.
The Joint European Torus (JET) in Oxford hit 69 megajoules using a minuscule 0.2 milligrams of fuel. Over 300 scientists and engineers from across Europe played a part in this milestone at the UKAEA's cutting-edge facility. The findings from this achievement will contribute to the fusion megaproject ITER, currently being built in France and backed by a global team.
Trends shaping tomorrow’s world:
Communication, customer service, and leadership top the list. However, as generative AI continues to make an impact, adaptability has been dubbed a top skill of the moment. Despite AI changing the game, human skills are still in high demand.
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Gen Z and younger Millennials are feeling disconnected at work. This is significant since their engagement has declined from 40% to 35% since 2020. Gen X's engagement is also down but Boomers are more engaged, even as they retire.
McKinsey's latest insights show that with the right approach, a hybrid or fully remote organization can be just as healthy as traditional ones. It's all about clear values, smart decision-making, and nailing the way you work together, even when you're apart.
Expert Perspectives:
Christofer Mowry of the Fusion Industry Association sees this moment in fusion technology as a pivot from scientific validation to commercial viability. His vision is clear: fusion energy is not just another option, but an inevitability for a sustainable world.
Liam Murray shares his thoughts on the top challenges that the HR and TA community have been struggling with.
What’s next?
From floating solar farms and nuclear fusion milestones to the evolving workforce and hybrid work models, the pace of change never seems to slow down. But as the saying goes, change brings opportunity.
Be ready for that moment by having the right people in your team, with the help of BPS World .