Although there is still concern that technology is replacing jobs, in reality the opposite is true. Digitalization and greater access to technology provide new opportunities to boost global labor productivity, expand business reach and stimulate collaboration in ways that were previously impossible.

However, to fully realize the potential offered by the digital transformation and address the current talent shortage in China, employers and educators must collaborate with the government to develop talent with skills that match the roles transformed or created by technology.

To address its talent shortage and fully maximize its technological transformation, China must develop new education models to grow a technologically savvy and adaptable talent pool.

The slowdown of China's economy has resulted in more competition for fewer jobs. This has affected the entire workforce, including previously exempt university graduates. Clearly there is a disconnect between the talent businesses need and the skills and knowledge educational institutions are teaching.

To bridge this gap and align China's talent with the skills demanded by employers, educators should focus on developing soft skills as well as hard skills, so students have the capacity to think critically, question assumptions and act quickly - both independently and as part of a team - to develop flexible solutions that meet the needs of business in today's ever-changing environment.

Also to stop or at least significantly slow the brain drain, which is both economically and socially costly, educators, regulators and employers must work together to develop professional opportunities that nurture and value talent, and outline clear paths for professional growth.

Expanding on-the-job training and professional growth opportunities, encouraging entrepreneurship and innovation and creating modern career development tracks will help employers build a strong talent pipeline.

There is no doubt that digital transformation will continue to drive China's growth, productivity and innovation. To sustain this process, China's employers, educators and government must collaborate in order to accelerate changes in the way talent is developed, and on how local opportunities are perceived and utilized.

Known as a cradle of learning since ancient times, China is well on the way to becoming a powerhouse for science and technology.

Both China and Europe have understood the need to help top scientific talent thrive and to encourage research that boosts innovation and competitiveness.

In 2007, the European Union took a bold step by establishing the European Research Council to invest in the most creative researchers in any field, from social sciences and humanities to physical sciences, engineering and life sciences.

The originality of the ERC lies in allowing scientific talent to pursue ambitious projects in frontier research. This type of research is performed by scientists driven by the curiosity to push the boundaries of knowledge and know-how further, without having any specific applications in mind.

History shows that without curiosity-driven science, research constrained to solving "real problems" would be routine and technological progress would remain purely incremental.

Although the impact of frontier research is often difficult to predict, this is where the real breakthroughs often happen; the laser, the identification of the DNA structure and penicillin are just a few examples of ground-breaking discoveries that sprang from such research.

A huge variety of new materials have also emerged in this way, for instance new ceramics as well as graphene, a new form of carbon considered one of the materials of the future. Such breakthroughs lead to the emergence of new industrial sectors, spur innovation, stimulate the economy, and have the potential of improving society and people's quality of life.

The overall theme of this year's Meeting of the New Champions organized by the World Economic Forum - "Creating Value through Innovation" - resonates with the ERC's mission to fund ambitious projects proposed by researchers with an open mind for long-term innovation.

This is crucial, as innovation - recognized as a decisive driver of economic growth - is boosted by scientists who have been given the opportunity to carry out high-risk, high-gain research at the frontier of knowledge.

As people live longer, the need to invest in healthcare is growing exponentially. This is true not only in Asia, but throughout the world.

It is within such a challenging environment, that the World Economic Forum will seek to elevate the role of health in driving socioeconomic growth by engaging three stakeholders - governments, businesses and communities.

The immediate challenge in emerging markets is to improve access to care and connectivity for patients, whereas in mature economies it is to improve outcomes at lower cost.

With significant multistakeholder investment and partnership programs, we can transform societies more rapidly and profoundly than in any previous age.

For example, the Forum's "The Future is Healthy" initiative aims to demonstrate that healthy populations can drive socio-economic growth.

To ensure this occurs, the initiative encourages both private and public investment in initiatives with better health returns on investment.

This involves more than just saving lives - according to a report from The Lancet, the world's leading medical journal, reductions in mortality could instigate economic growth of more than 10 percent in low- and middle-income nations.

But to do so we need to share our expertise, our resources, and most importantly, our ideas.

We need to take visionary ideas, encourage debate about their efficacy and implementation, and then promote such concepts to become transformative achievements.

Nowhere is this process more vibrant and promising than in the field of health and healthcare. For we have reached a hugely significant point in history - diseases are being eradicated, chronic conditions treated more effectively, longevity is increasing and more consumers are in control - or want to be in control - of their well-being than ever.

At such a moment and with the right dialogue, we can help to shape a healthier future.

As Milton Friedman said, "The poor remain poor not because they are lazy but because they do not have capital." Several reports have marked the concurrence of financial inclusion to reduced robbery rates and higher literacy rates which are key parameters to assess the well-being of a nation.

It is in this context that the micro-financing institutions are crucial to emerging economies, as sustained financial inclusion not only helps individuals but also society at large.

For all economies combating challenges to financial inclusion, a pervasive financial sector is a must. Traditionally banks have avoided operations in remote locations due to high costs and low returns.

But many leading banks are now getting into partnerships with non-governmental organizations and micro-finance institutions.

While the immediate purpose is to micro-credit, it opens up the field for wide variety of financial services such as insurance and savings products.

Technology has a paramount role to play in creating the backbone for financial inclusion models. It is technology that is becoming the enabler for institutions, be it the scanning and uploading of documents from remote locations, banking tips via text messaging, or grievance and counselling centers.

Technology binds the processes together. With the challenge of finding skilled professionals at remote locations, technologies while being effective have also to be simple enough to be adopted and flexible enough to be adapted to regional requirements.

With branchless banking solutions, banks and financial institutions can seamlessly offer last-mile banking services in a cost-effective manner to the unbanked and under-banked segments by enabling consumers to easily access banking services through agents rather than bank branches. This brings in operational efficiencies and a larger served market base.

Everyone has the right to dream and no dream should fade because it did not find an expression. Let's create an environment, where ideas flourish and create a virtuous cycle.