Keeping an Eye on Technology Futures, No Hidden Agendas, New Attitudes, No Platitudes!
The assumption has been that the US and industrialized nations will keep leading in knowledge intensive industries, while underdeveloped and developing countries focus on lower skills and lower labor costs. That's changed. Many countries around the world now compete.
Through inexpensive, universal communications technology, knowledge work is migrating worldwide to the highest-quality, lowest-cost providers. Productivity has become a fierce, head-to-head competition between regions and nations. Whoever makes things better-faster-cheaper wins. The prize is wealth - a higher standard of living.
The human factor - "asymmetric motivation" - is forcing change. In advanced regions such as North America and Europe, salaries are high and the motivation to work long hours is limited to those few who have natural drive. By contrast, in developing countries, the push for upward mobility is intense, which results in huge productivity differences.
Innovation will be a key driver for growth. And that may come from virtually anywhere - not just the advanced first-world countries.
Within the next two decades, India will overtake China to become the world's most populous country. Both countries' middle-class populations are advancing quickly to produce and consume a vast amount of products, services and energy. Everyone's growth plans must take into account the markets in these and other major, advancing countries.
In a fragile financial environment, look for new automation leaders to emerge through acquisition, perhaps even from China or India. Look for BIG changes.
