STAFF REPORT LHR: Professionals at an event stressed the need for building highly skilled and tech-savvy work force in line with the worlds fast transition to technology to improve productivity efficiently and effectively.
“Through intelligent software and internet technology, we will see tremendous increase in productivity in energy, transport and medical care sectors, and customisation of mass production through 3D printing,” said software engineer Saad Bin Tahir.
He said that the downside is in fueling of inequality due to constant higher return on capital than the economic growth.
Since changing education system will take a long time, the inequalities will keep on ballooning, added.
“There is a growth with right technologies, while low skilled human resource turns out to be a looser,” said a social worker Dr Kishwar Dhingra.
He said that the trends underpinning widening inequality will have to be counteracted through policy instruments, including tax regime, inclusiveness and affordable education and health care.According to him, quality of human lives can be improved greatly; but even in the advanced countries, focus on aggregate GDP will be less helpful in achieving this goal.
Entrepreneur-educationist Almas Hyder said: “After centuries of wasteful production and consumption practices, the world is in dire need of technologies that enable both producer and consumer to do more with less.”
He said companies must fundamentally rethink the way they integrate technology and use natural resources in their productive processes to achieve growth objective.