New World Tech order and India’s Role

Speaking at the IIT 2020 Global Summit, the Prime Minister has urged the IIT alumni to share more of their ideas and inputs on how India can mark 75 years of its freedom.
As a large number of IIT alumni are in global leadership positions and their strong networks are spread across industry, academia, arts, governments, the PM has urged the Indian Tech diaspora to debate, discuss and contribute to solutions in the emerging New World Tech Order.

In today’s Era, in addition to factors of production like land, labour, capital and entrepreneur there is a new factor which is taking place and it is the data.
Data has become a very essential part in the changing world and may have a huge impact on the future as various technologies are emerging like Artificial intelligence, robotics etc. which has capability of even replacing humans in near future.
In earlier times, research used to be done by government funded agencies but now new technology development is driven by 8-9 big companies out of which 6 are present in the USA which may have certain implications for India.
The role of diaspora will be very essential for filling the loopholes in every country especially for India.
The new world tech order will be a major turning point for all the countries as well as for humans.

The major implication is that no technology is being Human centric.
It will impact the employment rate as job opportunities in other countries where technology is already developed may increase and will lead to migration as well as emigration.
Today, the private sector driven new technology is focussed only on profit, return for investors and not for the actual technology deployment solutions which can be a major drawback.
Increase in digital divide and inequalities between rich and poor.

Education is key for the emerging world order for which enrollment needs to be increased in quality technical education.
The R&D led ecosystem and mindset need to be created for high value job opportunities.
Create an Ecosystem of guidance which is very essential for diaspora to flourish their ideas in India.
Develop mechanisms like public private partnership for Training and skilling.
Collaborative effort for acquiring technical knowhow to work in various fields.

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