Some people already know what #4IR means and understand how the #DigitalEconomy has fundamentally changed how work is done.
Many do not and are not prepared for a transition that is already happening.
Start with this video -https://www.youtube.com/watch?v=okXk4Bnz2Lc …
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My personal opinion is that the Internet is comparable to Electricity - initially, electricity was only being used to replace kerosene lamps. Few people thought about the many other potential applications that would spring from this new utility.
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This was an ad for one of the first electric washing machines...note that it is plugged into a lightbulb socket overhead! (Plugs were not yet invented) Don’t ask me about unscrewing it with wet hands to turn it off
pic.twitter.com/HRDukMowdX
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Modern appliances are taken for granted by us today and so are sockets to plug these devices into. The Internet effectively started out with one application - the World Wide Web - meant to facilitate sending electronic messages between computers.
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Today we can see applications and use cases that few predicted back when this new technology was invented but now seem obvious, especially Search, ecommerce, advertising, financial services and education. Digital is almost everywhere.
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This also means that school systems designed for the Industrial Economy have not properly prepared workers for the Digital Economy in most countries, hence so many workers falling behind. Check out this great
@worthmag article -https://www.worth.com/your-company-is-sleeping-through-a-crisis/ …Prikaži ovu nit -
One could easily change the title to "Your Country Is Sleeping Through A Crisis" and then insert any country in the subtitle - "American workers are falling behind, and employers aren’t doing enough to help." This is especially true for the
#CaribbeanPrikaži ovu nit -
"Companies must have a holistic approach to talent that involves upskilling, reskilling and hiring." says Jason Field in that article. Whole countries need to do that as well.
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Here is another great piece that leaders in the Caribbean, public and private sector, need to read:https://qz.com/work/1664560/automation-means-we-need-to-retrain-workers-not-rescrew-them/ …
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"As tasks are automated, demand shifts toward more labor-intensive, less technology-intensive roles. A more digitized economy creates far more new jobs for bartenders, recreational therapists, and teachers than it does for VR programmers."
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According to that article, "Five promising digital skills": 1. Animation 2. Multimedia production 3. Design in engineering 4. Building and maintain IT systems and networks 5. Research and quantitative data analysis
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"For a start, schools need to focus on the skills that will see rising demand: judgement, problem-solving, creativity, and collaboration. These should be at the core of the curriculum, not at the margins as they are now." Education reform is crucial to future competitiveness
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"The Fourth Industrial Revolution is rapidly driving transformational disruption across every sector. By 2022, over 60% of global GDP will be digitized. An estimated 70% of new value created in the economy over the next decade will be based on digitally enabled platforms." - WEF
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That quote comes from -https://www.weforum.org/platforms/shaping-the-future-of-digital-economy-and-new-value-creation …
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Some countries are already ahead of the game and creating a "Digital Economy Partnership Agreement" -https://www.zdnet.com/article/singapore-new-zealand-and-chile-inch-towards-digital-economy-pact/ …
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No surprise that Singapore is thinking that far ahead. The pact would "facilitate greater digital connectivity between the countries and establish multilateral rules on digital trade at the World Trade Organisation (WTO)." How many Caribbean countries are looking at such pacts?
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This was just announced by Dominica, credit to their government for publicly declaring -https://wicnews.com/caribbean/dominica/dominica-adopt-digital-economy-future-benefits-080525683/ …
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"One thing is certain: there’s no turning back now. Digital technology will spread further, and efforts to ignore it or legislate against it will likely fail" - https://www.imf.org/external/pubs/ft/fandd/2018/06/impact-of-digital-technology-on-economic-growth/muhleisen.htm …
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"The answer lies not in denial but in devising smart policies that maximize the benefits of the new technology while minimizing the inevitable short-term disruptions."
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"By their very nature, general-purpose technological revolutions are also highly disruptive. The Luddites of the early 19th century resisted and tried to destroy machines that rendered their weaving skills obsolete, even though the machines ushered in new skills and jobs."
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The
@the_IDB has a really good publication titled "Exponential Disruption in the Digital Economy" - https://publications.iadb.org/publications/english/document/Exponential-Disruption-in-the-Digital-Economy.pdf …Prikaži ovu nit -
A key stat from it that Caribbean policymakers are probably not aware of is "Over the past three decades, every dollar invested in digital technologies added US$20 to GDP on average, 6.7 times higher than non-digital investments which added US $3 for every dollar invested."
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Caribbean countries working towards significant GDP growth but investing most of the money into non-digital technologies are not serious.
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I've been happy to hear a few Caribbean companies speak about
#BigData and at@BlueMahoeCap we are evaluating an investment in that space. Why is this a crucial area to support? "For example, in taxation, big data and analytical tools could help to reduce tax evasion and fraud"Prikaži ovu nit -
and "In the private sector, big data and analytics helps enterprises enhance their productivity and boost sales, and drives the creation of new business models." Lots of companies in the Caribbean need to "enhance their productivity" because of low global competitiveness
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Leveraging the Internet of Things would be smart as well - "By using the sensor data gathered by IoT-enabled devices such as smart meters and traffic lights, governments gain insights into citizens’ needs and are enabled to implement changes quickly and effectively."
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As someone who travels to Jamaica almost monthly and witness the insane traffic, I can imagine the widespread application of IoT-enabled traffic lights (provided road discipline is tackled at the same time of course).
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The IDB makes a clear case for applying digital technology to one of the largest employers in the Caribbean - "in the agricultural sector, a network of sensors distributed over the field could help monitor temperature and humidity levels and control irrigation systems."
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I love the 5 ways that the
@the_IDB indicates how the private sector can play a role: 1. Increasing private investment, especially in connectivity infrastructure that allows for equitable accessPrikaži ovu nit - Još 6 drugih odgovora
Novi razgovor -
Čini se da učitavanje traje već neko vrijeme.
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