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By 2020, the US economy is expected to create 55 million job openings: 24 million of these will be entirely new positions. And 48 percent of the new jobs, according to Georgetown’s Center on Education and the Workforce, will emphasize a mix of hard and soft intellectual skills, like active listening, leadership, communication, analytics, and administration competencies.

How can companies get a better idea of which skills employees and job candidates have? While university degrees and grades have done that job for a long time, they’ve done it imperfectly. In today’s rapidly evolving knowledge economy, badges, nanodegrees, and certificates have aimed to bridge the gap – but also leave a lot to be desired. While HR departments are eager for better “people analytics,” that concept is still fuzzy. And simply collecting data is not enough – to be used, data has to be presented usefully.  Rest

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“ADX’s commitment to promote financial stability and growth in the Emirate by maintaining the highest standards of practice in financial services inspired us to introduce a number of innovations during the past few years which are in alignment with Abu Dhabi government drive to achieve a sustainable, resilient, diversified and knowledge-based economy.  For instance, ADX was the first financial market in the MENA region to adopt blockchain technology,” said Al Blooshi.

Al Blooshi’s remarks came while chairing the first session of the annual conference of the Securities and Commodities Authority (SCA) which focused on the role of financial markets in building an economy based on knowledge, innovation, and happiness.  Rest

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Hawaii “gets” the Knowledge Economy

Hawaii Gov. David Ige says transforming schools is key to diversifying the state’s economy, and he wants to expand a program that enables high school students to earn college credits for free.

Ige also plans to invest more money on programs that support developing the state’s technology sector, he said in his annual State of the State address Monday.

“To transform our economy, we need to transform our schools, so our children can provide the brain power and fill the jobs required in a knowledge-based economy,” Ige said. “To keep them here, we need to ensure that our economy provides challenging and satisfying careers and homes they can afford.”  Rest here

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Montana Shifts Towards a KE

“Over the last five years, what’s been striking is that the Montana’s economy has diversified,” said Dan Lloyd, business development specialist at the Montana Governor’s Office of Economic Development. “We are a state rich in natural resources, but we are starting to see the shift.” …

Montana, and the U.S. for that matter, is shifting from a resources-based economy to a knowledge-based economy, which means communities may need to look for new ways to attract businesses.

“In traditional resources economies, businesses locate where the resources are,” said Lloyd. But in a knowledge economy, he continued, it’s based on the workforce.

“We have a quality of life (and) people want to live here,” said Lloyd. “We are seeing the shift to a knowledge economy, a service economy,” he added. “We are seeing companies conduct their businesses online. People aren’t just manufacturing widgets, they are sending bits and bytes out, it’s digital.” …

In our knowledge-based economy, “economic growth is really related to labor force.” Continued investment in our education infrastructure “ensures everything from K-12 to community colleges to 4 year universities to give people the skills they need in the 21st century,” said Lloyd. … Rest

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Vision 2021 and the Dubai Expo form the basis of the UAE’s building for a future knowledge-based economy in a post-oil era. The new UAE vision focuses on creating a sustainable future through foreign direct investment, the building of a smart city, tourism growth, infrastructure, transport and energy, amongst many other sectors. The publication ‘Economic Intelligence UAE – Building a knowledge-based economy (2016)’ features articles by a range of government officials and other key national figures in the UAE’s quest for a knowledge-based economy. Get this publication here

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PM Modi: “I am delighted to address the India-UK Tech Summit 2016. The Tech Summit was envisaged during my visit to the UK in November last year to reinforce the friendship between India and the UK. It also marks the high point commemorating 2016 as the ‘India-UK Year of Education, Research and Innovation’. It is a privilege that Right Honorable Theresa May, the Prime Minister of United Kingdom has joined us at this event. … Today, the world is at an inflection point where technology advancement is transformational. It is vital that India and the United Kingdom, two countries linked by history, work together to define the knowledge economy of the 21st century. Rest

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Fareed Zakaria’s GPS on CNN show today featured an interview with President Obama. It was a very interesting interview and you can find the free audio podcast here [I recommend the segment from 8:07 to 8:37]. In discussing the benefits of the Trans-Pacific Partnership (TPP) treaty, President Obama said:

“And the Trans-Pacific Partnership is a historic agreement cobbled together among a very diverse set of countries. And the basic argument is simple. This is going to be the world’s largest market. And if we’re not setting the rules out there, somebody else is.

And what we have been able to do is not just establish a trade agreement among these countries, because many of them we already have trading agreements with. What this does is it raises the standards for trade so that there is greater protection for labor rights, a greater protection for environmental rights, greater transparency, greater protection for intellectual property, which is so important to a knowledge-based economy like ours.” [rest of the full transcript here]

{“Knowledge-based Economy” in “Facebook” blue in tribute to CEO Mark “I’m pro-knowledge economy” Zuckerberg}

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[The Honorable Cho Won-myung, Ambassador of the Republic of Korea to Brunei Darussalam] “In order to successfully achieve the above-mentioned three (goals) in Vision 2035, we have to move forward in a knowledge-based economy to overcome dilemmas posed by a natural resource-dependent country in the recent economic downfall.”

“Korea’s experiences would be good practice and lessons for Brunei to successfully accomplish a knowledge-based economy in Vision 2035 through promoting ICT industry and implementing ICT programmes.” Rest

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It appears that both the federal and state governments are beginning to realise that the knowledge economy stands a better chance of lifting the Nigerian economy again rather than the oil windfall.

This is considering the investments the federal government and some of its state counterparts are committing to intellectual property, IP and innovative knowledge hubs in recent times.

National Information Technology Development Agency, NITDA,has made different investments ranging from training the youths on IT innovation, building capacity, to supporting tech start-ups on software or mobile application development.

However, the federal government had come out to categorically state that it was going to build innovation centres, at least one in each geo-political zone. Minister of Communications Technology, Mr. Adebayo Shittu recently reiterated government’s willingness to engender a pervasive ICT knowledge among the youths across the country, arguing that the best and easiest way to go about it was to scatter knowledge factories everywhere in the country. “Our policies are geared towards using Information and Communications Technologies (ICTs) as a catalyst for innovation in every sector of the economy. Rest

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Advanced Manufacturing Advances

The Knowledge Economy takes another big step forward with Smart Manufacturing.

President Obama recently announced that the Smart Manufacturing Leadership Coalition (SMLC) will lead the new Smart Manufacturing Innovation Institute, in partnership with the Department of Energy. The winning coalition, headquartered in Los Angeles, California brings together a consortium of nearly 200 partners from across academia, industry, and non-profits—hailing from more than thirty states—to spur advances in smart sensors and digital process controls that can radically improve the efficiency of U.S. advanced manufacturing.

White House Fact Sheet

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