Many infrastructure leaders agree that well-established trends are causing a rapid and profound disruption of the industry, with the emergence of unprecedented global events such as the COVID-19 pandemic, financial crises or acts of terrorism only serving to complicate matters further.
As industry leaders we must decide how best to respond to these trends. Will we simply watch on as events overwhelm us or will we seize the opportunities they inevitably create? Watch the video below for some highlights on our Infrastructure Futures Report.
There is a clear recognition that well-established trends are disrupting infrastructure in a way that is more rapid and profound than experienced in the past.
The Global Infrastructure Hub, working with the World Economic Forum and Boston Consulting Group, conducted a scenario-planning exercise to understand how a collection of 25 transformative trends—megatrends—could reshape the infrastructure industry in the future.
Our work has clarified that, while many of us know that change is coming, we are collectively under-prepared. Our hope is that this report is the start of a process of debate about the future of the infrastructure industry within, and across, industry, the public sector, and international organisations and fora, such as the G20.
This report is intended to provoke thought and spark action, inspiring decision-makers within the infrastructure industry to collectively shape a more cohesive, resilient and sustainable world. In the face of growing global uncertainty, we have to act now to ensure infrastructure is planned and delivered in a strategic way that contributes to long-term inclusive growth.
– Marie Lam-Frendo, Chief Executive Officer, Global Infrastructure Hub
This work has clarified that there are four key areas to investigate in further detail:
We encourage members of the infrastructure community to investigate potential impacts and implications in these scenarios and take action to ensure their strategies and plans are resilient to the full range of possible developments.
For the next steps, the Global Infrastructure Hub and The World Economic Forum encourage interested organisations within the industry, as well as governments around the world, to reach out to us and collaborate on deep-dive analyses on the potential implications of these future scenarios, as well as possible strategic responses.
Our hope is that this report is not the final product; let’s continue the conversation together.
Please reach out to Contact@gihub.org if you are interested to learn more.
The three scenarios that we lay out in this report are relatively extreme, yet plausible, versions of the future.
We conducted a global survey gathering perspectives on the megatrends most relevant to the infrastructure industry, using analysis of the survey results, combined with expert interviews and discussions, to construct these scenarios.
They delve into the spectrum of possibility of critical megatrends such as geopolitical context, pace of climate change and technological progress.
Imagine a world where countries, or groups of countries, become increasingly isolated leading to a multipolar(ised) world. The infrastructure industry is dominated by domestic champions that are slow to innovate and slow to adapt to external shifts, such as climate change.
Imagine a world transformed by technology where every facet of life is touched by data, analytics and robotics. Technological innovation is rampant, controlled by large companies that have steadily reshaped the infrastructure industry.
Imagine a world where the health of the environment and wellbeing of citizens are paramount in economic, social and political decision-making. The infrastructure industry revolutionises, following the principles of the circular economy.
Click below to access the full report examining the impact of megatrends on the infrastructure industry.