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Paul Marshall is chairman of Marshall Wace (a hedge fund in London) and co-chaired the Prosperity UK conference. He writes in a personal capacity. The following is an excerpt from his June 12th opinion piece in the Financial Times.

The message must be crafted for the young, for it is they who will inherit this economy and it is they who are being taken in by Mr Corbyn’s blandishments. A core component must be a more generous vision of immigration, which recognises the limits to the absorption capacity of some communities but equally recognises the vital importance of skilled workers and the place of our universities at the heart of any knowledge economy. Students must be taken out of the immigration numbers. And our universities must be brought together to help set a national strategy for the knowledge economy.  Rest

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So much of the economic action these days is in the knowledge economy, rather than in products that move across the border in tractor­trailers.

The majority of the value of the Standard and Poor’s 500 is now tied up in intangible things – intellectual property, data, brands and the like. Many of the largest and fastest- growing companies – public and private – are in areas such as social media (Facebook, Twitter and Snap), cloud computing (Amazon and Microsoft), online streaming and content (Netflix, Google, Apple and Spotify), e­commerce (Amazon and eBay), ride sharing (Uber) and online payments (PayPal).  Rest

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The Brexit column: Smart trade

The UK should promote its knowledge economy in signing free trade deals after Brexit, says Shenoa Simpson, a KPMG trade expert.

… The UK has a completely blank canvas, but what will it paint upon it? For me, the direction of travel is clear. The UK’s competitive advantage now lies in the knowledge economy. Areas like  media and the creative arts; research and innovation in industries from pharma to aerospace; the shape-shifting innovation of our financial services and the fintech sector. In carving out trade policy to govern these less tangible – but extremely precious – resources, the UK could become something of a pioneer.  Rest

[Editorial comment – Brexit inevitably is driving a wedge between the UK and Europe, but a stronger “Knowledge Economy” partnership between the UK and Europe can help counteract this effect. KnowledgeEconomy.UK, KnowledgeEconomy.EU, KnowledgeEconomy.FR, KnowledgeEconomy.DE, KnowledgeEconomy.NL, KnowledgeEconomy.ES, KnowledgeEconomy.IT, etc can be used to strengthen the partnership! Contact us at Info@ (this domain) for more information about the companies, universities, government ministries, etc that we are looking to be leaders in the development and use of these KnowledgeEconomy domains]

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Greater precision in finding the target comes only with better knowledge, or, more specifically, data. In our increasingly digitised knowledge economy, we are generating, capturing and analysing data at volumes and speeds that are accelerating exponentially.

Through access to high-quality data, artificial intelligence (AI) programmes can ensure messages to and communications with customers hit the correct target time after time. The more an AI programme knows about a client’s preferences and priorities, the better it can meet and even anticipate future needs.  Rest

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@Richard_FloridaTraditionally, it was thought that people follow jobs. We move for money, right? Accordingly, cities shelled out big incentive packages in order to lure companies and factories. But with the rise of the knowledge economy, the opposite notion has gained sway: Highly skilled and talented people—the knowledge and professional workers, artists, musicians, and media workers that comprise the creative class—have the ability to pick where they want to live and then create and attract companies.  Rest

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On 19 May 2017, Hassan Rouhani was elected President of Iran for a second four-year term. Among the challenges he will face: the pursuit of transition to a knowledge economy in a context of low foreign direct investment (FDI). …

Vision 2025 foresaw an investment of US$ 3.7 trillion by 2025 to finance the transition to a knowledge economy. It was intended for one-third of this amount to come from abroad but, so far, FDI has remained elusive. It has contributed less than 1% of GDP since 2006 and just 0.5% of GDP in 2014.  Rest

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Knowledge Summit announced

DUBAI: The fourth annual Knowledge Summit – “Knowledge and the 4th Industrial Revolution” – is scheduled to take place on Nov.21-23, 2017, reveals the Mohammed Bin Rashid Al Maktoum Knowledge Foundation (MBRF).  …

“The activities held during the Knowledge Summit add tremendous momentum to the event,” Jamal Bin Huwaireb [CEO MBRF] continued, “especially as it hosts the awards ceremony of the Mohammed Bin Rashid Al Maktoum Knowledge Award, which honours those who play an effective role in the efforts to build a knowledge economy and preserve intellectual assets. The Summit also constitutes the official platform to reveal the results of the Arab Knowledge Index and the Arab Reading Index – both accurate scientific tools that track the status of knowledge and reading in the Arab region.”  Rest

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Addressing to the conference UNEC rector Adalat Muradov stressed that knowledge comes to the fore in all spheres of life, and in the modern era the most of states try to build their society in the direction of concept “knowledge society” and economy basis of the concept of “knowledge economy“.

“It is no coincidence that in the post-oil period Azerbaijan sees its economic growth precisely in the creation of economy, based on knowledge and innovation. The period until 2025 is characterized as period of transition to knowledge-based economy, and its formation on the basis of mutual integration triangle “education-science-production” implies formation of the knowledge economy,” Muradov emphasized.

In his opinion, that is why today the idea of “classical university” begins to be replaced by concepts of “entrepreneurial university”, “multiversity”.

“In the modern period the universities, playing an important role in the formation of the knowledge economy, create serious positive influence on the development of the economy. They mainly realize this function by training qualified specialists, creating new knowledge, their application and sharing.  Rest

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The UAE Knowledge Economy

Dubai Launches First-Ever Dubai Association Conference

Inaugural event will take place 11-12 December 2017, offering an exclusive platform for associations to network and expand their regional footprint

Dubai, United Arab Emirates – The Dubai Association Centre (DAC), a joint initiative of the Dubai Chamber of Commerce and Industry (DCCI), in collaboration with the Dubai Department of Tourism and Commerce Marketing (DTCM) and Dubai World Trade Centre (DWTC), has announced the launch of the first-ever Dubai Association Conference which will be held 11-12 December 2017, at the Dubai World Trade Centre. The event, a first of its kind in the region, reinforces the crucial role associations play in Dubai’s socio-economic development and its transition to a knowledge-based economy. The announcement was made at the prestigious Associations World Congress that is currently underway in Vienna, Austria.

Issam Kazim, Chief Executive Officer of Dubai Corporation for Tourism and Commerce Marketing (DCTCM), said: “It is undeniable that trade and professional associations play a key role in driving social integration, competitiveness, and knowledge sharing, and therefore support in the development of a knowledge economy.  Rest

Unleash power of scientific research to stimulate the UAE knowledge economy

It is an exciting time for scientific research and development in the UAE. As the country seeks to expand and enhance the contribution of the knowledge economy to the UAE’s social and economic development there is a growing recognition of the vital contribution of scientific R&D.

The significant social and economic advantages that a country can gain from scientific research occur by design, not by accident. That strategic design is now taking shape in the UAE in the form of updated and enhanced scientific research policies, space programmes, educational reforms and investment in research intensive institutions.

South Korea offers an excellent example of how decades of sustained investment in R&D can transform an economy based on construction and low tech manufacturing to a high-tech knowledge economy – one that is now competing with Silicon Valley as the next global hub for tech start-ups.  Rest

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India & Pakistan

Knowledge-economy set in India to sharpen its skills’ set

For this to happen without any huge hitch, a modern, vibrant and competitive workforce is a pre-requisite for ensuring productivity of its human factor endowment at a pace that can galvanize and sustain the growth momentum, going forward

By G Srinivasan: India today is in the sweet spot of relishing its demographic dividends with the large swathe of its youthful populace getting ready to reshape the contours of its services-oriented economy. For this to happen without any huge hitch, a modern, vibrant and competitive workforce is a pre-requisite for ensuring productivity of its human factor endowment at a pace that can galvanize and sustain the growth momentum, going forward. The Modi Government ever since it took charge of governance after the 2014 General Elections in May carved out a separate Ministry of Skill Development and Entrepreneurship (MSDE) with a specific and significant remit to fast-track the imperative need for skill development.  Rest

 

Strong intellectual property rights for Pakistani youth urged

Islamabad – Pakistani-American attorney and patent expert Haris Bajwa Friday said that Pakistan has highly talented engineers and entrepreneurs. In a statement issued here by the United States Embassy, Bajwa said Pakistan’s highly talented engineers and entrepreneurs need strong intellectual property rights to build the knowledge economy of the future. He added, “It’s exciting to learn about the tremendous potential of Pakistan’s tech sector, which will grow rapidly as the government adopts policies that support an effective intellectual property regime.”  Rest

Knowledge-based economy only possible by strengthening technology institutions: Tanvir

Federal Minister for Science and Technology Rana Tanvir Hussain Monday said that knowledge-based economy is possible by strengthening the technology institutions and ensuring effective governance enhancing the capacity of indigenous innovation system.

The minister said while addressing the workshop on “Application of Robotics Technology for Industrial Development in Pakistan” at National University of Science and Technology (NUST). He said that the government was fully committed to launch scientific and technological programmes and projects that aimed economic development of the country.

He said, ‘These days we can see robots doing house chores, surgical treatment, security, rescue, bomb disposal, medical rehabilitation, space exploration, agriculture and electrical mobility. Our principal agenda aims to build the knowledge based economy to gather the human resource, raw technology, infrastructure into the hard modern technological base’.  Rest

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