0 comments on “Pakistan’s digital revolution is happening faster than you think”

Pakistan’s digital revolution is happening faster than you think

CPEC

The digital power of China’s Belt & Road Initiative (BRI) is slowly unfolding and shaping into a whole new area of opportunity.

When the BRI took global centre stage in 2013, most conversations revolved around traditional infrastructure: building roads, railways, power sources and linking borders. However, the digital awakening that BRI brings, and the associated development of human capital and innovation, is much more powerful.

The global map is being altered at a much faster rate than anticipated due to the disruption created by digital infrastructure, artificial intelligence, the Internet of Things, and blockchain. Further digital and technological disruption is now set to mend fractures in society – leading to improved living conditions and enhanced economic empowerment.

This disruption has given new life to e-commerce and the start-up scene in BRI countries. In light of the Global Competitiveness Index 4.0, it is extremely important that economies grow in all areas, overcoming challenges and making investment in human capital and innovation. Resilience and agility are key.

Looking at the South Asian region, some of the traditional deterrents to growth have been inadequate transport facilities, patchy power supplies and lack of financial inclusion. As we have seen in the past, industrial revolutions take their time to reach developing countries but the Fourth Industrial Revolution has been quick to reach all corners of the world.

Billions of dollars of investment are bridging the infrastructure and power supply gap while improving technology – the goal is to look past the problems that have hindered the road to progress in countries along the BRI.

The flagship project of the BRI, the China-Pakistan Economic Corridor (CPEC), which is a major collaboration between China and Pakistan, has been rapidly progressing and the impact of the project can be seen in the lives of Pakistani people, as reflected in an improving human development index.

Pakistan, which is emerging from many years of the war on terror, is now on a decent path to progress, with economic growth of 5.8% and improved investor confidence. At the World Economic Forum in 2017, Ebay’s chief executive, Devin Wenig, highlighted Pakistan as one of the fastest growing e-commerce markets in the world. In 2018, Alibaba bought Pakistan’s largest e-commerce platform, Daraz.pk.

Growth is being accelerated by other major investments in power and connectivity infrastructure, technology and digital infrastructure. Ant Financial Services, China’s biggest online payment service provider, recently bought a 45% stake in Telenor Microfinance Bank, in a deal that valued the Pakistani bank at $410 million.

Irfan Wahab, chief executive of Telenor Pakistan, called the deal a “game changer”; while Eric Jing, chief executive of Ant Financial, said it would provide “inclusive financial services in a transparent, safe, low-cost and efficient way to a largely unbanked and underbanked population in Pakistan”.

This kind of investment will benefit from the significant demographic dividend in Pakistan, targeting the largely unbanked young population, and providing not only financial inclusion but also a base on which to build digital businesses.

What the country needs now is to improve its position on the innovation and financial inclusion indices, currently at 89 and 75 respectively, on the World Economic Forum’s Competitiveness Index 2018.

source and more: www.weforum.org

0 comments on “European digital economy gets new deep tech talent”

European digital economy gets new deep tech talent

More than 200 international students were in Eindhoven. They were celebrating their graduation from the EIT Digital Master School.

eit-master

This new crop of technicians has been trained to meet the needs of the business community. Commerce is desperately looking for technical staff that can convert new emerging technologies into business. Since 2012, more than 1 350 students have participated in one of EIT Digitals master programmes. Sixty-six per cent of this institution’s students complete their Master’s Degrees within two years. This, compared to the average six years it takes to complete a Masters in the Netherlands, as reported in Statline.

About the EIT Digital Master School

The EIT Digital Master School offers a two-year Master programme in Technology, Innovation, and Entrepreneurship. EIT Digital does this in collaboration with 17 top European Universities. The graduates are tasked with contributing to the digital transformation of Europe. Students choose one of seven technical programmes and study at two different European universities. The graduates then receive a double Master Degree. They also earn a certificate from the European Institute of Innovation and Technology (EIT).

Before the official graduation ceremony begins, not only will Prof. Willem Jonker, CEO EIT Digital have a word. Prof. Jan Mengelers and Douwe Lycklama, founder and partner of InnoPay, will also address the audience and graduates. Prof. Jan Mengelers is Chairman of the Board of Directors at the Eindhoven University of Technology. This ceremony is to be held at the Parktheatre.

About EIT Digital

EIT Digital is a European organisation for education, innovation and scale-up acceleration. Its goal is to improve economic growth and quality of life in Europe through technological innovation. This is done through the integration of education, research, and entrepreneurship. There is also a  pan-European collaboration with over 180 European institutions.

These include companies, SMEs, startups, universities, and research institutes. This enables EIT Digital to bring groundbreaking digital innovations to the market as well as train future leaders. EIT Digital is a Knowledge and Innovation Community of the European Institute of Innovation and Technology (EIT).

source: https://eindhovennews.com