On 7 May 2018, the European Commission (Directorates-General for Communication Networks, Content and Technology – CONNECT and for Employment, Social Affairs and Inclusion – EMPL) announced the creation of the high-level expert group on the impact of the digital transformation on EU labour markets.
Appropriate skills, social protection and diversity in the workplace will all be crucial for the future, as will social dialogue about the introduction of new technologies.
The digital transformation, from robotics to artificial intelligence, is transforming our jobs.
The European economy loses over 2% of productivity per year due to a mismatch of skills, according to a recent study commissioned by the European Economic and Social Committee. This means a loss of 80 eurocents for each hour of work. The situation will get even worse in the future due to demographic trends and ongoing technological developments, if no reforms are undertaken.
The digital revolution, which is reshaping the global economy and societies, offers numerous opportunities, but also poses many challenges, thereby putting governments in a dilemma on how to shape it. While empowering individuals in many ways and spurring impressive inventions, it poses threats of cyber-attacks and privacy abuse. It also raises concern about the future of the labour and social security markets.
The European Investment Bank (EIB) has signed a €27 million financing agreement with software company M-Files from Tampere, Finland. The loan was made possible by the European Fund for Strategic Investments (EFSI), central pillar of the Investment Plan for Europe, which was launched by the EIB Group and the European Commission to boost the competitiveness of the European economy. This operation is the EIB’s largest commitment in the Finnish IT sector for years. With these funds, the rapidly growing company aims to revolutionise the way organisations manage and use information, making it more intelligent, intuitive and compliant.