More Barbadians are beginning to recognize the benefits of
information and communications technology in business, medicine, sports and the
arts as they explore new ways to do things and new things to do. Unfortunately
the use of new technology tools has been hampered by a reluctance to make
fundamental structural changes that would require planned obsolescence of
inefficient traditional business models.
This may all be about to change as consumers are buffeted
with inflationary pressures, rising taxes and increased energy cost. The
challenge to find non traditional methods of distribution that creates real
saving for their customers will force existing businesses to reinvent themselves
or face the prospect of crushing competition from new and agile business models
that eliminate many of the intermediate steps in the supply chain that forms
the links between producer and consumer.
We are now in that turbulent period of an era shift where
technology is revolutionizing the way we do business, learn, socialize, play
and govern ourselves. Productivity increases will be staggering as the cost of
goods and services drop and their quality improves. In some ways we are already
experiencing the benefits. Digital x-ray and MRI scans can be instantly
available to physicians and dentists for more accurate and timely diagnosis or
to be shared for consultation anywhere on the globe. New 3 dimensional
technologies allow for greater accuracy in medical diagnosis and through
earlier diagnosis, enhanced survivability from disease.
Soon 3 dimensional printing will provide instant access to
automobile parts without the dealer having to invest in high levels of
inventory. Tools can be ordered and supplied in a matter of days and a whole
host of products will be downloaded and manufactured with 3D printers without
having to pass through the port and attract the attention of customs. The many
savings are obvious not the least of which will be the elimination of paperwork
and needless delay.
At the same time there is a growing class of knowledge based
entrepreneurs who are designing services and products for a global market. They
are only limited by their imagination as time and distance have been almost eliminated
from the distribution equation, while scalability can meet a rapid increase in
demand.
Everything is not positive in this new world however, and
technology does not change human nature nor eliminate criminality or hostile
intent. The threat of cyber attack and denial of service is becoming ever more
sophisticated. Not only do we have to contend with cyber criminals and identity
theft, but increasingly there are many state sponsored players that bring massive
resources to bear in the economic assault on business and government entities
stealing business secrets, intellectual property and a wide range of other
sensitive information.
Barbados has much to gain by embracing the digital world of
trade and commerce and it should be in the vanguard of those nations that would
condemn digital theft and piracy while working with allies, who respect the
rule of law, to develop defenses for our national networks.
We should do everything that we can to foster a competitive
environment that would encourage development of robust, secure ultra-wide
bandwidth networks connected to homes and businesses. As we develop more and
more content there will be an increasing need for symmetrical services where
the upload and download bandwidth is equal.
While it’s getting cheaper, Technology is not cheap. It also
requires the right blend of disciplines in many IT areas to deliver integrated
business process solutions. Our small businesses and even small Government
Departments in the Caribbean do not lend themselves well to certain types of
deployments. Even our larger companies are small in the global context and
struggle to make certain types of IT investment. Innovation in Cloud technology
and opportunities for specialized consulting firms may help bridge this.
Finally it is the willingness to reengineer business
processes from the ground up and it is this human element that will determine
success or failure.
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