On Wednesday, April 17, more than 45 regional and international business professionals joined BABC at the Four Seasons Hotel in Seattle for an informative and timely discussion on the state of global and local economic affairs. The annual event, presented by GCI in partnership with Osborne Clarke and Vettd, featured regional and international business, education, government and financial leaders who shared insights and perspectives on workforce development, the future of privacy and cybersecurity, impacts from technology and to businesses, and what to expect in the next steps on Brexit. Key highlights from the morning's conversation included: 

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Workforce

• Learning in grades K-12 needs to evolve – leaving behind the traditional three ‘Rs’ – reading, writing, and arithmetic - to embrace a more cyclical learning concept that is nurtured throughout our school and professional careers. While it’s still important to focus on the basic skills, they should be nurtured through complex problem solving rather than traditional delivery methods. The key is balancing how developmental and emotional needs are met while ensuring students are learning in a way that promotes this complex problem-solving. Some examples are project-based learning and apprenticeships.

• When hiring, companies should seek out the basic success skills that can be nurtured with the investment of technical competencies.

• While it’s a global market, it’s still vitally important for companies to tap into the local talent to develop their talent pipeline.

• The Gig Economy is a fabulous opportunity. It is a platform for students and people changing careers to gain needed experience, and for companies to gain access to a wide breadth of talent and competencies.

• Labor mobility between the U.S. and UK is still a challenge and is an issue that must be addressed today, despite current political climates. However, it is important to note that the challenges today are no less challenging than the issues taking place two years ago.

• For employee retraining, best resources include community colleges and educational institutions. Microsoft offers core retraining certifications. Visit www.Microsoft.com/Learn to review the courses and tools for free degree level courses.

• The workforce talent should attain one key goal… to learn independently and understand how they learn as an individual. Then, to consistently foster the learning throughout their career and life.

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Privacy & Cybersecurity

• The approach to data privacy is different in the US, which utilizes sectoral laws vs Europe/UK that is focused on protecting all data. Consumers are increasingly aware of their privacy rights and companies must build trust with the consumer in the way they handle and use data.

• It is critical that companies doing business in the UK know about GDPR – it is expected when doing business. GDPR will remain a top priority in the UK before and after Brexit.

• Companies should be talking about and gaining an understanding of their cyber risk -no longer can problems in the online space be ignored. The UK is at the forefront of the international efforts to protect against risk and recently launched their Online Harms Whitepaper, which sets out the government’s plans for a world-leading package of measures to keep UK users safe online.

• One way to think about security in an organization is as a ‘Duty of Care of User’... how does your organization handle hate/abuse?

 

Technology

• The technology revolution has created some level of chaos. There is a gap in digital literacy between generations. Lots of progress is expected in this area over the next ten years to create digital citizens that are ready for the future.

• The UK government has identified 4 technology opportunities of focus to include AI (data), clean growth, future mobility, and the aging population.

 

General Business

• Despite some challenges, the UK is important as an investor and as a place to invest. The country has great universities and a highly educated workforce. It is an exciting and easy place to do business.

 

Brexit

• The decision to join the EU has been delayed until the end of October 2019.

• Whatever happens, the UK has a healthy democracy and will remain an important trading partner with the US and around the world.

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SPEAKERS