Is ICT the \u201cnext economic pillar\u201d? We have some difficulty with that view and explain why.<\/em><\/p>\n
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One of the news articles that was included in the roundup published on Monday<\/em><\/strong><\/a>, was a short report of a speech given by Mr Edison Sumner, Chief Executive of the Bahamas Chamber of Commerce and Employers Confederation, in which he sought to encourage greater focus on ICT in the Bahamas:<\/p>\n
Source:\u00a0 Tribune 242<\/a><\/p>\n
Evidence of the importance of technology is over 20 years old<\/h3>\n
Occasionally, and when relevant, many industry experts point to the studies conducted by the World Bank<\/a> and Strategy&<\/a> to name a few, that were conducted about 10 years ago showing the relationship between increased broadband penetration in households and economic growth, especially in developing countries. However, as stated, the research is already 10 years old!<\/p>\n
We are still lagging behind<\/h3>\n
So why are we still talking as if ICT, and its potential, is still in the future? Caribbean countries and their citizens are already enjoying the benefits of it, and are also being subject to its impact in business, and with respect to investments and security, to name a few.<\/p>\n
What such a posture suggests is that Caribbean countries still have not positioned themselves to fully harness ICT. Unfortunately, whilst we \u2013 as countries and a region \u2013 might eventually get our act together, it would be prudent to manage expectations. The ICT\/tech space is not static: still evolving. Hence unless countries make a concerted effort to leapfrog beyond their current trajectory, we are likely to still remain behind, and not fully realise and benefit from the impact of ICT on our economies.<\/p>\n
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Image credit:\u00a0 Pixabay (Pexel<\/a>)<\/em><\/p>\n
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