In a world that is going increasingly digital and viewing market trends that have accelerated use of technology to run businesses and organisations
In a world that is going increasingly digital and viewing market trends that have accelerated use of technology to run businesses and organisations, it is clearly evident that government needs to amplify its resources to prepare for a digital economy. By 2025, 20 billion plus devices will be connected which is approximately three times the world population. It is time to think of digital beyond basic IT function that runs offices and helps you connect to others. Needless to say, it also goes beyond digital marketing and sales.
Lacking a clear definition of digital, entities struggle to connect digital strategy to their organisations. This often leaves them like a leaf blowing in the wind. Yet as the Covid 19 crisis has shown us, there are companies that have adapted early, out-executed competition and gained from first mover value. The same applies to non business organisations whose operations have gained efficiency and not been derailed by the lockdowns.
Research shows that emerging set of digital ecosystems will account for trillions of dollars in revenues; Nepal – with a young population – must take advantage of these opportunities that will not only enable a diverse set of globally shaped businesses but also create immense employment opportunities.
The digital shift also comes with its own set of challenges; preparedness and accuracy are critical to ensure that we have processes in place to overcome such threats. Clear policies that are futuristic and efficient are the tools that will enable the country to adapt to a digital economy better. Focus on data mining and analytics, AI, higher levels of automation, telematics, digital behaviour tracking, new technology adaptation, knowledge of cyber threats – are all agents that will help calibrate immunity as we test, learn and adapt.
We must remember that the pace of disruption is uneven but transformation is the core to stay relevant in the changing times. Whether it is industries and businesses, agriculture, healthcare or education, Nepal must be future ready despite the hardships and hurdles of the ongoing pandemic. Prosperity does not come just by talking, it requires commitment to throw out what is not working and have the courage to chart new paths. Will GoN deliver?