Invitation to employ technology in the economy of the future

Friday 20 September 2019
 
For many years, the world is moving into a new economic era thanks to the development of many new technological products such as the Internet, computing, big data, machine learning and artificial intelligence.These technologies together constitute a sufficient force for a digital economic revolution, which economists agreed upon, trying to invest to support the global economy despite the depth of changes.
Says d. Tahseen al-Sheikhly, Director of the Center for Future Studies Research in London, said: “Technology has exploited the natural resources in the best possible way and has had positive effects on the production process, such as speed in the implementation of the production process and increase production in quantity and quality, reduce costs and increase rates of economic growth and improve the overall standard of life.”
On the role of technology in the Iraqi economy, Sheikhli said that "the technology factor is a great engine to increase production and can be described as the fifth factor of production factors (land, labor, capital, regulation), as it worked to exploit natural resources in the best possible way, and created positive effects on the process Productivity, such as speed in the implementation of the production process and increase production in quantity and quality, reduce the cost and increase in economic growth rates and improve the overall standard of life. He pointed out that it "created new job opportunities. Iraq had a scientific program, allocated billions of dinars and was able to step in the course of scientific progress by building the scientific base by sending hundreds of students abroad to transfer technology and then localize."
However, "but the policies of the system and confusion led to the end of the project and then followed by the change and destruction of infrastructure, which led to a significant decline in technology to have an influential role in the Iraqi economy in the future." Sheikhly explained that “the challenge facing the Iraqi economy is not only in generating knowledge itself, but in how to activate the knowledge generated to add value to the economy and determine the role of the project in the knowledge economy through its contribution to raise the standard of living of individuals and increase their productivity, and achieve economic growth by increasing the learning and skills of its users in Their specialty field.
He pointed out that "the increasing technological capabilities lead to open space for individuals with knowledge to play a key role for added value, which contributes to the formation of knowledge makers as highly qualified and Iraq has youth knowledge capabilities."
He stressed that "the economy of Iraq, since the inception of the state, and so far is a rentier economy depends mainly on oil revenues and despite the attempts of many political regimes to find a parallel outlet of income, but all failed, although Iraq has the resources to qualify for the advancement of agriculture and food industry," The problem of the planners of the economy that the fever of industrial competition swept them more than attention to agriculture and thus lost the two sectors and remained the only dependence on oil resources.
He pointed out that "the great failure in the formulation of economic policy directly reflected on the details of the life of the citizen, which inevitably focus on the next economic policies on the side that promotes the reality of man and change the living conditions of life and create jobs for young people. He explained that "modern technology has facilitated communication all over the world and created new job opportunities and invented the fields of medicine, engineering, earth sciences and space and has become an essential part in armament and war and a source to receive news and knowledge and dissemination."
He said that "previous years witnessed discussions among economists about technological development and will it affect employment or not?" Today, there are deeper questions about the impact of technology on existing companies and on the pattern of production, noting that there are no ready answers that give a specific model and clear milestones for the shape of the future economy amid this great development in technology.
He added that `` old normal efforts are not enough to achieve economic development, advanced technology must play its natural role in changing production methods and in the contribution of material and human factors in adjusting the nature and quality of goods and services.Technology is always changing and here lies the need to follow up and understand to include them in daily life. ''
The technology has created the so-called second economy, a virtual and independent economy that not only strengthens the physical economy, but also provides businesses with an external intelligence different from the human intelligence tradition.




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