MR. [Gerard] BAKER [WSJ]: Turning to the issue of technology and what you’ve called the Fourth Industrial Revolution: Clearly, there are great concerns about jobs going away. Artificial intelligence is advancing very, very quickly. What can the world come together and, through an event like Davos, do to come up with solutions to the human consequences of this technological change?
PROF. SCHWAB: Davos can make a contribution in that we combine the fourth revolution with the educational system [ED: Davos thus contributes by strengthening the Knowledge Economy]. I personally feel that our present educational system should be much more flexible. We should have modules which allow people, lifelong, to continuously update themselves and maybe even to be certified every year with the progress they have made in terms of taking care of their own up-skilling. Rest
The topic of workplace diversity has vexed businesses and employees for decades. Increasing diversity has long been promoted as the right thing to do, but that notion could be viewed as simplistic and ignoring the deep benefits that inclusion can bring to an organization. Scott Page, a professor of complex systems at the University of Michigan, tackles the issue in his new book, The Diversity Bonus: How Great Teams Pay Off In The Knowledge Economy. He discussed why diversity must be more than “feel-good metaphorical statements” on the Knowledge@Wharton show, which airs on SiriusXM channel 111.
Knowledge@Wharton: What drove you to research this topic?
Page: It’s a little bit of a C.P. Snow moment. He was the British academic who said there are two academies: science and arts. Within the University of Michigan or almost any university, you’ve got people in the humanities and in the arts and philosophy departments talking about the need for inclusion on normative grounds, a sort of moral case for a more integrated society. Over in computer science and ecology and business, there are all these people showing in a knowledge economy this incredible value from people who have different perspectives, different ways of looking at problems, different tools. Rest
… But there are some more insidious elements inside the urban fitness revolution. For one, the obsessive focus on staying fit reflects the growing pressure that many urban professionals face to look young and in shape. Exercise can also be a method of generating the physical stamina and mental focus required for long hours of knowledge work. As such, it is bound up with the relentless trends of the knowledge economy, which creates a lifestyle of continuous improvement, and the commodification of human capacities. Indeed, this is built into the very mantra of many urban fitness studios. Many of them pledge not just to change your body, but to “change your life” and help you “find your soul.”
Make no mistake: Good health is among most important things in life, and time devoted to keeping fit is rarely time wasted, wherever and however you choose to exercise. But as you head out to your preferred gym or fitness studio this New Year, it’s worth keeping in mind that your workout is not only about helping you look and feel better; like it or not, it enables you to be a productive cog in the knowledge economy machine. Full post
That conversation though sparked a couple of questions in my mind: can an oil economy and a knowledge-based economy coexist? Or does an oil economy, or any natural resource-fuelled one, precede a knowledge-based economy? Here’s the thing. When the economy is driven by revenues from oil or other natural resources, those revenues are mainly channelled into one, spending in the economy, which could be to create jobs, to increase demand via pay raises, and to spur growth ultimately; and two, saving for the future and investing in it. For the sake of this article, I am interested in further elaborating on the second part, especially that such savings and investments could deter a country’s resolve in attaining a knowledge-based economy. …
To eventually create a knowledge-based economy, a country must invest earlier on in its human capital, with revenues from natural resources being a facilitator rather than a reason to sit back and relax. With or without natural resources, developed human capital in different fields are the true economic drivers. And in its pursuit, countries must know what skills and specialisations they would require in the coming decades. Laying the ground for tomorrow’s balanced, continuous economic growth by today’s implementation of policies that would warrant that those skills are home-grown. A knowledge economy is one that is driven by people who understand what it takes to move away from oil and other natural resources, not desire to further invest in them. A knowledge-based economy is also one where different policies are scrutinised via a rigorous cost-benefit analysis that does not take revenues from oil and other natural resources for granted. Rest
Put all these things together and you essentially redefine the notion of a good job. No longer does it mean simply assembling parts, serving customers, or driving a forklift. It involves thinking like a business owner—someone responsible for tracking and managing the key numbers and figuring out how to improve performance. It also involves sharing in the rewards of success rather than just collecting an hourly wage. That definition seems fitting in our knowledge economy—and makes for more-engaging work for employees at every level of the organization.
Rest at https://hbr.org/2018/01/more-than-a-paycheck
Writing in The Times today, the Prime Minister said: …
“Our Industrial Strategy will propel Britain to global leadership of the industries of the future, seizing the big opportunities of our time – from Artificial Intelligence and Big Data to clean energy and self-driving vehicles.”
… The Business Secretary, Greg Clark said:
“Through our Industrial Strategy we are committed to building a knowledge and innovation-led economy and this increase in R&D investment, to 2.4 per cent of GDP, is a landmark moment for the country. REST
[Editorial comment: we are looking for UK leaders to develop and use KnowledgeEconomy.UK and InnovationEconomy.UK]
Providing access to learning and education through cryptocurrency could overcome a major obstacle for millions across the globe. Arjan Schutte, founder and managing partner at Core Innovation Capital, agrees.
“Among the most exciting innovations in cryptocurrency are applications that leverage Bitcoin’s distributed trust network to create faster, more secure platforms for currency exchange,” he explains. “So-called crypto rails like the Ripple network allow currencies and payments to flow cheaply, rapidly and smoothly as information on the internet.”
The unbanked have increasing access to digital wallets and ways to fund them, opening the door for their participation in the global knowledge economy, with all the advantages that come with increased access to learning. Full article
SCBIO 2017 Annual Conference Agenda
(happening shortly …)
“Building a Life Sciences-Fueled Knowledge Economy in SC”
Dr. David Cole, President, Medical University of South Carolina
Jim Clements, President, Clemson University
Dr. Harris Pastides, President, University of South Carolina
Moderator: Bob Quinn, President & CEO, SC Research Authority
This is BIG when the Presidents of the three major research universities in South Carolina get together to talk with the President of the major non-university research entity in the state about life sciences and other aspects of our growing Knowledge Economy.
By Amy Edmondson, Novartis Professor of Leadership and Management at Harvard Business School and Bror Saxberg, vice president of learning science at the Chan Zuckerberg Initiative. Edmondson and Saxberg are members of the Consortium for Advancing Adult Learning & Development (CAALD), convened by McKinsey & Company. Also, Edmondson is the noted author of
MBRSC announces launch of 1st edition of Science Event on October 21
Mohammed bin Rashid Space Centre, MBRSC, has announced the launch of the first edition of Mohammed bin Rashid Space Centre Science Event to be held under the patronage of Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, on 21st October. …
The event will host ministers and high-level speakers from the UAE who will present their vision for the future of the country on its transformational journey towards becoming a knowledge economy, in-line with its ambitious plans and strategies. Rest
New Members of Abu Dhabi Executive Council take Oath
Shaikh Mohammad [Bin Zayed Al Nahyan, Abu Dhabi Crown Prince, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council] said the new phase of development requires creative and innovative ideas due to the unprecedented and rapidly changing world. “This phase needs us to keep pace with this development in terms of work and thoughts — a move that can be done by enhancing economic diversification, building knowledge economy and investing in human capital, with education being given a top priority as the main driver of development,” he said. Rest
Dubai FDI to build on growing investment inflows from US
Dubai Investment Development Agency (Dubai FDI) and Dubai Exports, both agencies of Dubai Economy, are heading to the US on a mission to draw focus on to the development strategies and policy initiatives transforming the emirate into a knowledge economy and innovation hub. Rest
UAE President Issues VAT Decree-Law with One of the Lowest Rates in the World
“The new tax system will provide extra support for the Government to implement the vision of the UAE leadership and build a diversified and productive knowledge economy,” H.H. Sheikh Hamdan [bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Federal Tax Authority] added. “The newly introduced Value Added Tax that shall be implemented in the GCC depending on readiness of each member State between 1 January 2018 and 1 January 2019 pertaining to the Common VAT Agreement of the States of the GCC, will have positive results on the economy, far exceeding its 5% rate, given that revenues will be redistributed to development projects that benefit society at large and accelerate progress until the UAE reaches the top of global rankings across all sectors.” Rest