We are used to receiving wisdom from the West, including the perspectives on the future of technology, industry, business and society. However, please remember that it is reliably reported and frequently quoted by Western scholars, that when MK Gandhi was once asked, “What do you think of Western civilization?” he replied, “I think it would be a good idea.” I know that it may seem presumptuous for me to offer some megatrends from the Indian and Asian point of view – but one must acknowledge the excellent writing by journalists, authors, economists, and historians in our newspapers across the sub-continent and the continent. One must also acknowledge the outspoken statements of fact, reason and eloquence of the South African lawyers in the International Court of Justice at The Hague and its ministers at public forums.
Megatrends –
- The narrative has shifted, and changed, from the powerful mainstream media to the ordinary professional and citizen journalist, editor, videographer, and producer. Nowhere and none are innocent of misinformation and disinformation, but in the last eight months, the Western media has distinguished itself with its tunnel vision of false narratives and denials. It has done its best to kill the mainstream media and while many of its notable Indian proponents remain in denial and thrall, to the power of the big Western media, the mainstream media has helped to shift the media to citizens, freelance journalists, alternative media companies including non-profits, and social media.
- There is a megatrend of reverse globalization with Asians investing in Europe and America with better technology and cost-effective production. This is necessary because developed countries have been able to get away with one-way traffic in goods, technology and services except where outsourcing is much cheaper such as in back offices and software. This is changing as services and software companies in Eastern European and Asian countries are not merely writing code but designing new hardware, technological, industrial and software products and services built with lower energy costs including renewable power and higher human productivity. There is also the reverse flow of capital for better access to technology and markets with protectionist regimes.
- Megatrend three – exporters from Asia bring agility and flexible solutions. They have learned to listen to the customer and to come up with customer-driven solutions. They have learned to leverage and combine both cloud service and the appropriate human intervention at the appropriate time. This trend will be visible at drupa 24 in Dusseldorf both in the strength of Asian exhibitors and visitors and the gradual diminishing of such shows in light of shows that are now proliferating in Africa, Asia and Latin America. The regional and national shows are gaining in importance and quality of exhibitors and the active entrepreneurial skills and wealth of the visitors.
- The awareness and implementation of standards is a global megatrend. It includes scientific testing and documentation. In Asia, it is very visible with the significant investments in well-qualified human resources and instrumentation in industry laboratories. Research and development, application know-how, and intellectual property are being locally generated.
- The fifth megatrend is also global and not restricted to Asia. It is the megatrend of industry consultation across supply chains. Without the new collaborative ecosystems industrial obligations such as climate change and plastic recycling cannot be addressed. These modules and networks are now also originating in Asia. Those perceived as hypercompetitive are learning how to work together, balancing intellectual property and combining business interests. This is not an easy megatrend, but one of the most powerful.
- The sixth and last megatrend in our context that has been emerging for the past 20 years is ‘cloud-feudalism.’ This is a term first used by the Greek economist and former minister Yanis Varoufakis, which I will describe in my own words – we are all tending in most countries and economies around the world to become employees of big tech. Whether it is Microsoft, Facebook, Amazon, or Google or our airline, rail transport, banking system, income tax or other government services, we are expected to be connected by smartphone and the internet to perform a good portion of the tasks that were earlier done by human beings that worked for the suppliers of products and services. Even if we purchase something we will be subjected to endless queries and rating systems. We are doing the work for their benefit and apart from paying for their services, we are also paying the government for the privilege of doing so.
