Article by: Asst.Prof. Suwan Juntiwasarakij, Ph.D., MEGA Tech Senior Editor
Hold on tight. This issue is about to show you the proven technologies that will transform life, business, and the economy in global scale. According McKinsey Global Institute, twelve emerging technologies have the potential to reshape the global economy upon which we live and work on. McKinsey estimates that applications of the twelve technologies studied could have economic impact between $14 trillion and $33 trillion a year in 2025.
This estimate is neither predictive nor comprehensive. It is based upon the analysis of key potential applications and potential value, consumer surplus that results from product improvement, better prices, environmental friendliness, and health-related impact. These disruptive technologies are mobile internet, automation of knowledge work, internet of things, cloud, advanced robotics, autonomous-and-near-autonomous vehicles, next-generation genomics, energy storage, 3D printing, advanced materials, advanced oil and gas exploration and recovery, and renewable energy.
Source: McKinsey Global Institute
Source: McKinsey Global Institute
and developing economies for sized applications
Source: McKinsey Global Institute
TAKE-HOME MESSAGE
These disruptive technologies enormously pose challenges for policymakers and for citizens. It is a good time for policymakers to review how they address technology issues and develop a systematic approach; technology stops for no one, and governments cannot afford to be passive or reactive. The time may be right, for example, to rethink how governments measure the economic impact of technology by looking beyond GDP and employment and look for metrics that truly capture the value-added when new technologies take hold.