World Monitor Magazine April 2017 - Page 67

Intelligence Capital Index (Apr 2017) Kai L. Chan, PhD EXPERT OPINION Finally, little regard has from traditionally been bestowed the to attract talent. Cities such distributions in academic performance, intelligence on (CQ) and ability social of nations is what separates humans robots cultural London, Hong and Singapore are magnets for bright and ambitious people. So left this implies a left-tail that is being networks, etc. Notwithstanding – as it New is the York, key that unlocks Paris, the power of Kong far behind. Likewise, although the USA that, smarts is what will propel the education. even in the absence of a good domestic pipeline for talent, these cities (and thus their respective has by far the highest number of elite knowledge economy, so countries that Finally, little regard has traditionally countries) are able to foster a climate generates knowledge and innovation. universities, it ranks just 22nd in terms been bestowed on the ability of nations perform well in intelligence capital will of share will of national universities Economies are Cities highly complex many different skills. Not everyone be or should be a in the be best prepared for the knowledge to attract talent. such as New and require global top 500; i.e. most Americans revolution embodied in the rise of York, London, Paris, Hong Kong and STEM graduate or pursue university education. But brains are indeed needed for economies that are not have access to globally leading Data, cloud computing, artificial Singapore are magnets for bright growing evermore complex. The ICI Big is focused on human capital with an do emphasis on “smarts”. But it is tertiary education. intelligence, etc. and ambitious people. So even in the just one dimension of human capital, which should also include emotional intelligence (EQ), cultural The Knowledge Revolution upon us absence of a good domestic pipeline intelligence (CQ) and social networks, Notwithstanding that, smarts RESULTS is what will propel the (INDEX LIST) will etc. stress unskilled labour markets for talent, these cities (and thus their Table 2 below lists the standing of 128 as many of these jobs will be lost to respective countries) are able to foster knowledge economy, so countries that perform well in intelligence capital will be best prepared for the countries according to the ICI. Columns automation. At the same time, the a knowledge climate that revolution generates knowledge embodied in the rise of Big Data, cloud computing, artificial intelligence, etc. 1 and 2 in Table 2 are the ICI ranks and rewards to knowledge have and will and innovation. The Knowledge Revolution upon us continue will stress unskilled labour markets as many jobs economies. will be lost scores of of the these assessed The to grow. This will further Economies are highly complex and third column (Grade) is a letter grade exacerbate inequality and social require many different skills. Not to automation. At the same time, the rewards to knowledge have and will continue to grow. This will designed to be political akin to a division. school grade divides, and potentially generate generate even everyone will be or should be a further exacerbate inequality and social divides, and potentially even more ranging from A (best) to D (worst) with more political division. Policy makers STEM graduate or pursue university Policy makers embracing the Knowledge Revolution will need to ensure inclusive growth. “+” and “-“ notches within each letter embracing the Knowledge Revolution education. But brains are indeed th grade. Columns through 10 are the will need to ensure growth. needed that are the growing Herein, for it economies is worth noting gaps between elite and inclusive average. For example, India ranks 5 76 on average ranks for the 6 aspects of the ICI. Herein, it is worth noting the gaps evermore complex. The ICI is focused but 51 st on elite skills. Given the symmetric/normal nature of distributions in academic performance, between elite and average. For on human capital with an emphasis on this implies is being left far behind. Likewise, although example, India ranks 76th on average the USA has by far the highest “smarts”. But it a is left-tail just one that dimension number of elite which universities, it ranks skills just but 22 nd 51st in terms share of national universities in the global top on elite of skills. Given of human capital, should also the symmetric/normal nature of include emotional intelligence (EQ), 500; i.e. most Americans do not have access to globally leading tertiary education. Table 2: Full results of Intelligence Capital Index RANK SCORE GRADE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 74.88 64.19 64.18 63.96 63.60 61.58 61.57 61.15 60.45 60.25 58.91 58.74 58.73 58.66 57.33 56.69 56.35 A+ A A A A A A A A A A- A- A- A- A- A- A- RANK SCORE GRADE 18 19 20 21 22 54.98 53.78 53.58 52.01 51.79 B+ B+ B+ B+ B+ COUNTRY USA UK Germany Australia Singapore Sweden Switzerland Canada Finland Denmark Japan Netherlands Belgium Austria New Zealand France Korea COUNTRY Norway Luxembourg Ireland Iceland Czech Republic QUANTITY QUALITY AVG SKILLS 1 22 19 2 15 21 27 12 14 5 33 9 24 31 4 28 6 1 2 3 15 52 6 5 7 23 9 13 11 18 8 27 4 30 35 8 12 7 2 36 22 19 15 21 3 14 6 9 11 20 5 QUANTITY QUALITY AVG SKILLS 10 56 11 7 26 10 12 22 17 31 37 32 23 38 17 Kai L. Chan, PhD Distinguished Fellow, INSEAD ELITE SKILLS CREAT- IVITY ATTRACT ELITE SKILLS CREAT- IVITY ATTRACT 24 3 10 1 2 14 20 5 9 15 6 17 4 13 7 30 12 26 25 28 37 16 3 16 7 17 12 1 6 18 2 9 5 15 20 10 22 14 4 19 30 21 13 23 7 11 9 4 2 10 3 5 19 12 28 8 17 13 14 15 38 16 1 18 23 26 supported by EUROBAK 63