20 Apr 2018

PRODUCTIVITY IN A DIGITIZED CONNECTED WORLD

The technology revolution is here and should be welcomed; leaders are starting to find ways to adopt new technology including 3D printing, data analytics, artificial intelligence and the Internet of Things to increase productivity

In terms of jobs, growth and improving people’s lives, new and emerging technologies are key drivers for the development of innovative products, processes and services and offer opportunities for both small and large enterprises.

The speed at which technology has evolved means that not only are business people able to take their work around the city as they step from meeting to meeting, or home in the evening, but they are also able to carry out these tasks and remain cost-effectively connected with their team or their management.

I absolutely believe that we are on the edge of a productivity revolution which will bring benefits for people everywhere, make our planet more sustainable, and provide new opportunities for businesses of all kinds.

Innovation-related technologies also have a great impact on the digital revolution, has the potential to unlock productivity gains that have been missing for many years. While the digitalized revolution has brought immediate private benefits, easier communication and information, greater convenience, free digital products, and new forms of leisure. It has also created a profound sense of social connectedness and global community.

Increased prosperity and our incessant desire to stay connected have contributed to the rapid spread of digital technologies. More households in developing countries own a mobile phone than have access to electricity or clean water. Nearly 70 percent of the bottom fifth of the population in developing countries own a mobile phone.

In the telecommunications sector, future deployment of 5G technology will see ultra-fast data speeds and network reliability improvements to support the huge increases in connectivity.

Leading engineering and construction firms are starting to explore the use of drones, remote monitoring, robotics and smart sensors to increase efficiencies and safety while cutting costs

Governments are uniquely placed to facilitate change and ensure benefits are distributed across the whole economy, the sector faces many engrained practices and policies that must be overcome if the revolution is to have a lasting impact.

Organizations are increasingly looking towards innovation and technology as two of its most perspective levers to drive productivity, a generation that is completely aware of how impossible it is to switch off technology and make oneself unavailable for even a few hours, is clamoring to at least be able to enjoy the reverse of this phenomenon and to carry out their work tasks freely from any location they choose.

It’s clear that having countless devices sending a constant stream of data will require the tech industry to not only handle the massive amount of information or find new efficient ways to program those networks and devices, but also accommodate those new sources into their practice. But with the arrival of powerful new technologies, we stand on the verge of a productivity boom.

Employment growth in the digital sector has modestly outpaced employment growth in the physical sector, despite the big edge in productivity growth for digitalization and expanding the information revolution will require an entrepreneurial mindset in industry and government to deploy information technology in new ways and reorganize firms and sectors to exploit the power of IT

The revolution has already begun. Let’s take great advantage of a productive digitalized productivity.

 

Article by: Blessing Bassey

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