According to Timur Turlov, CEO of Freedom Holding Corp., humankind is experiencing another postindustrial revolution, significantly accelerating all processes. Under these conditions, “the winner takes it all,” says the businessman and only those companies investing in their human resources can survive and thrive in this new reality.
“Automation does not decrease the demand for human labour. Conversely, it requires expansion in personnel, which is why so many employers in different economic sectors report an increase in demand for qualified staff,” Timur Turlov stated during a speech at the New Vision business forum in Kazakhstan.
“We are incorporating a huge number of functions that are new to us. As a result, our staff is growing at the same speed as our business and automation rate,” Turlov highlighted. Summarising his speech, the businessman made an interesting observation: “When you think about modern banks, you might assume they need fewer employees than their peers did 30 years ago, but that’s not true. Today, we need many more professionals because we must cope with new types of risks and we need specialists to deal with compliance risks, IT risks and cybersecurity risks, as well as to develop sophisticated solutions. The way of doing business is accelerating and becoming more complex each year. This, of course, requires a lot of specialists.”
According to Timur Turlov, it is crucial to invest in self-education using the technological advantages the modern world offers. These tools facilitate access to knowledge and reduce digital inequality. As the businessman highlighted, a well-educated and young nation is the secret ingredient that can propel a country to a leading position. “Talent has become a primary form of capital. Not infrastructure, coordinated work, or well-organized political institutions. Talent is prevailing in this market. These days, talent is king.”
Timur Turlov also pointed out that “the world needs more qualified labour,” which is why “almost any organization should be ready to invest in such employees as long as it takes. It doesn’t matter how much they cost because their potential for increasing revenue is much greater.” The entrepreneur specifically highlights the importance of a technological background because in a complex, structured world, it’s crucial to be versed in technologies and processes managing a globalized society. “AI won’t have the upper hand over human beings, but those people who don’t use AI will lose to those who do… The world is rapidly becoming more complex. You have to run as fast as you can if you want to simply stay in the same place. You should run faster than you did last year. And don’t forget that we are already running at an incredible speed. If you can keep up with this pace, you will live a colourful and interesting life.”
Given these ideas, it’s not surprising that supporting Kazakhstani startups and young entrepreneurs in the IT sector is an important part of Turlov’s activities. He is the largest investor in various digital projects in Kazakhstan.
The New Vision Forum in Almaty became an effective platform for sharing experiences and innovative ideas. The event was attended by 50 speakers from 50 countries, including Richard Branson, founder and CEO of Virgin Group; Jeff Hoffman, co-founder of Booking.com; Jose Manuel Barroso, chair of Goldman Sachs International Advisors and Aidyn Rakhimbayev, head of the construction holding BI Group, among many others.
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