The Fourth Industrial Revolution hinges on Science, Technology, and Innovation to disrupt every sector; it is upon us and is brazenly redefining every facet of life.
Expectedly, world leaders – in business and government – are not lost on the impending change that is about to sweep through the planet, hence the desire for further collaboration and trade beyond borders.
Otherwise called Globalisation 4.0, the Digital Age will significantly open up more opportunities for business interactions just as it reduces the restrictive influence national borders have on trade.
It is in light of this that the BRICS Business Council seeks to convene a special session where businessmen and women from the bloc’s five countries will find those opportunities to improve their lot further.
Not natural resources! A mastery of Science, Technology, and Innovation will determine tomorrow’s leaders
The worldwide attempts to form new partnerships while trying to stay competitive is not just about making a profit from trade; it is a matter of survival.
Incidences from the last few years have shown that without such cooperation and progressive transition to accommodate new technology and digitisation, business enterprises will contract at best, or go bust completely.
The recent cataclysmic collapse of Britain’s Thomas Cook is a perfect example.
Among the BRICS countries, China leads the way in terms of technology, research, and innovation.
With about 816 million active internet users, advanced financial engineering tools, and disruptive mobile technology like 5G, the country has become a significant player in the tech and innovation space; no more the ‘world’s factory’ for cheap, copy-cat goods.
Following closely is India, the world-renowned supplier of a well-educated and technically-savvy workforce.
The country’s recent attempt to land a rover on the moon is a signal that they do not just supply Silicon Valley (and many other tech hubs) the technical expertise it needs to thrive, they are investing in innovation and ready to increase their revenue share from accruals thereof.
Russia is no stranger to innovation and scientific breakthrough either.
With over a dozen Nobel laureates in core sciences like Medicine, Physics, and Chemistry, who have contributed to global knowledge and application, this very advanced icy country is just getting started.
Brazil is also rapidly embracing technology and innovation to keep up with the world and provide its over 200 million inhabitants with a chance to enjoy a better life beyond receipts from its vast natural resources.
It is no surprise, then, that São Paulo is stepping into the tech innovation big leagues, claiming the undisputed title, “Latin America’s Silicon Valley.”
Home to dozens of Fortune 500 companies, much of the 15 million inhabitants living and working in South America’s major tech hub benefit from a regular injection of cash from local and international investors in more ways than one.
The BRICS Business Forum: An essential catalyst for international collaboration
Scheduled to hold between the 12th and 14th of November 2019, the BRICS Business Forum is as timely as it is relevant for business enterprises, investors, and entrepreneurs from the five countries.
To fulfil its mandate, the BRICS Business Council is hosting the forum in Brasilia where it hopes to further…
“…strengthen and promote economic, trade, business and investment links between the business communities of the BRICS countries, with the mission of ensuring a regular dialogue between business sectors and governments and identifying problems and bottlenecks as regards trade and investment.”
Rising from the 2018 edition of the BRICS summit in Johannesburg, political, diplomatic, and business leaders in the bloc of nations have been working tirelessly to fulfil the memorandum tied to the summit theme:
“BRICS: collaboration for inclusive growth and shared prosperity in the 4th Industrial Revolution.”
This effort is a sign that there is ongoing synergy, and every partner is serious about taking advantage of the prospects the 4IR will bring in its wake.
In other words, the 2019 forum will build on the outcome of 2018’s summit and provide a platform for local, regional, and international business enterprises to tap into the vast opportunities the Digital Economy has to offer.
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The future will be tech-dependent and now is the time to begin preparing
The BRICS Institute is very excited to partner with the Business Council as well as facilitate attendance and partnership opportunities for African business concerns and entrepreneurs interested in taking advantage of this enriching experience.
Notably, the institute is delighted that the forum aims to map the ICT skills gap as well as identifying the impacts the Digital Revolution will have on various aspects of the economy.
As a forward-thinking group, the Business Council is focusing on future skills that are expected to run the economy of tomorrow.
This undertaking is crucial and a strategic macro policy forged to address various lapses in today’s curriculum, thereby creating a highly skilled workforce that can compete favourably in the job market of tomorrow.
Tied to that idea is competitiveness.
The BRICS countries are serious about positioning themselves as critical centres of knowledge that will produce millions of young people with the requisite skills to build the future.
In effect, investing in this policy will reduce illiteracy, empower young people for tomorrow’s jobs, decrease poverty, bridge the inequality gap, reduce crime and criminality, and significantly improve each country’s GDP.
Last words: A better future beckons
The future is exciting, and the BRICS countries are working in consonance to create societies that are equitable, sustainable, and economically viable for the 40% (over 3 billion) of the world’s population that call these places home.
As these five countries currently strive to put in place policies that ensure they are not left behind when the future becomes highly digital, there is a renewed hope that today’s Gen Y and Gen Z will be well equipped to meet the new challenges head-on and lead a better life than their parents and grandparents.
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No doubt about it, isolated business enterprises – and even countries – that do not begin to collaborate with others in areas like technological research, innovation, and general commerce, will have themselves to blame when the world becomes smaller, and borders become insignificant, thanks to Globalisation 4.0.