All countries will eventually need to rebuild their growth models around digital technologies and the human capital that supports their deployment and expansion.
Interpretation
Countries must adapt their economic growth strategies to focus on digital technologies and skilled workforce.
In today's rapidly evolving world, it is essential for nations to rethink their traditional growth models and embrace the advancements brought about by digital technologies. This shift is not just about adopting new tools, but also about investing in human capital—the skills and knowledge of the workforce—necessary for effectively implementing and expanding these technologies to drive sustainable economic growth.
In practice
This quote can be used in a presentation about the future of economics.
Developing economies may not have much control over the headwinds that they face today, but that does not mean that they are powerless. Much can be done not just to sustain moderate growth but also to secure a more prosperous and resilient future.
One way to measure the size of a company, industry, or economy is to determine its output. But a better way is to determine its added value - namely, the difference between the value of its outputs, that is, the goods and services it produces, and the costs of its inputs, such as the raw materials and energy it consumes.
Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.
Fraud really thrives in moments of great social change and transition. We're in the midst of a technological revolution. That gives con artists huge opportunities. People lose their frame of reference for what can and can't be real.
I just believed. I believed that the technology would change people's lives. I believed putting real identity online - putting technology behind real identity - was the missing link.
This is not the internet the world needs, or the internet its creators envisioned. We need to take it back. And by we, I mean the engineering community.
We must address, individually and collectively, moral and ethical issues raised by cutting-edge research in artificial intelligence and biotechnology, which will enable significant life extension, designer babies, and memory extraction.
The virtual world is a 'public square' much more vast than Tiananmen Square. And you can't send in the tanks to crush the netizens.
No matter how deeply disturbing the thought of using the environment to manipulate behavior for national advantages to some, the technology permitting such use will very probably develop within the next few decades.
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