DINNER PARTY INTEL: India on the rise, and bankers get personal
Deloitte says India is set to emerge as a global superpower, driven in part by a young population
1. India on the rise
India is set to emerge as a global superpower, driven in part by a young population, says professional services firm Deloitte. At the same time, populations in China and the Asian Tigers are ageing rapidly. The number of people over 65 in Asia will climb from 365m today to more than 500m in 2027.
India is expected to drive the third wave of Asia’s growth — following Japan and China — with a workforce that is set to climb from 885m to 1.08bn people in the next 20 years. Its new workers are expected to be better trained. Deloitte says a greater share of women will join the workforce, and people will be willing and able to work for longer.
2. Bankers get personal?
Deutsche Bank CEO John Cryan has previously made headlines by predicting that technology will replace banking jobs. He recently followed that up in an interview with CNBC, saying "a lot of people" in his industry will have their jobs replaced by automation in five to 10 years.
Many finance jobs require people to act like robots, so they’ll easily be replaced by robots, Cryan said. One way to change what it means to be a banker, he added, is to push people to use interpersonal skills — something machines won’t master any time soon.
3. Kenya poll faces delay
Kenyan media suggest the country may have to delay a rerun of its presidential election scheduled for the end of October.
If the supreme court — which ordered the rerun — requires the country to host a results-transmission system, which was provided by Paris-based OT-Morpho in August’s election, the poll may have to be pushed to November. OT-Morpho told Kenya’s electoral commission that moving the system to Kenya from France by October 31 would be impossible. The court will provide reasons for its decision this week.