A strong majority of corporate leaders in Canada believe that the country’s future prosperity hinges on whether the nation can effectively address global disruptions or gets left behind on the global stage as powerful trends impact the broader landscape.
This is according to research from Deloitte’s forward-thinking Future of Canada Centre, some of which was released this week in the form of a report, titled “Global disruption in 4D: Exploring intersecting forces impacting Canada’s future.”
The report outlines “major global disruptions,” including the AI revolution and talent transformation, that are “impacting Canada’s ability to thrive.” These disrupting forces are colliding at intersections with each other and other forces, creating instability and uncertainty—and opportunity.
But Canada needs to act.
Capitalizing on the “immense opportunity of AI,” for example, will require equipping more workers with the skills to use the technology effectively. Currently, just 5% of Canadian business leaders consider their employees “very prepared” to use AI in a professional capacity.
“There is not a country out there that isn’t doubling down on AI strategy, making significant investments, and moving down the path of execution,” asserts Jas Jaaj, Managing Partner of AI and Data at Deloitte Canada. “The imperative to act is massive.”
Another disruption demanding an up-skilled workforce is Canada’s ongoing transition to a “net-zero” economy. We are already witnessing an abrupt influx of clean-tech companies across Canada, and they all require specialized talent.
“We have a golden opportunity to educate, invest, and close the productivity gap we have been grappling with for years,” believes Jaaj.
Beyond building up a skilled workforce, we also need to maintain it. Brain drain has been a problem for Canadian tech for years, if not decades.
With a majority of Canadian businesses still enduring a “persistent and long-term shortage of skills amongst existing employees,” the Deloitte report calls for a “need to stem localized brain drain of Canada’s considerable AI talent.”
“We have a calling to serve Canadians and a duty to drive positive change for Canada,” says Anthony Viel, CEO of Deloitte Canada and Chile.
The report also calls for more adoption of Canadian-made technology, especially AI tech, and to implement more comprehensive workforce strategies.
“To build a better future, we must embrace these disruptions collectively, steer our organizations, and enable our leaders to anticipate trends and stay ahead of the competition,” stated Viel. “This calls for systems-level thinking, collaboration, innovative approaches, and most of all action.”
While there is much work yet to be done, Canada has “everything we need” to navigate the intersections of these major disruptions, according to Viel—”from a diverse talent pool to abundant natural resources to a world-leading AI ecosystem.”
“Now, our leaders need the courage and foresight to use these strengths to advance our country in the right direction,” he said, “and to not only withstand but also flourish in an era of perpetual change.”
