As T&T moves to recover from COVID-19 it is imperative a parallel economy is created using IT as its backbone to foster different types of initiatives, including the creation of new jobs.
CEO of the T&T Coalition of Services Industries (TTCSI) Vashti Guyadeen also advised that data intelligence is the cornerstone of this sector.
The World Economic Forum (WEF) has estimated the emerging professions resulting from automation could account for 6.1 million jobs globally between 2020 to 2022.
Guyadeen noted the role that data analytics and technology have played globally in reinventing public and private services.
“Unprecedented circumstances are pushing entrepreneurs to find innovative solutions by re-engineering processes and using technology to deliver new types of services.
“Open data practices, data mining and technological adaptation is the nexus for these sectors. Estonia has emerged as one of the global leaders in e-commerce by intentional policies aimed at integrating ICT into the fabric of their society,” she explained.
Many of local businesses,Guyadeen said, are seeing a silver lining.
Noting that remote work is here to stay she said animators for instance, have stated emphatically that given the digital nature of their business they have been advocating for full scale digitization.
This, she added, will enable them to be globally competitive.
Technologically driven industries require new types of services including financial products.
Building an export culture.
The quest to become an exporter is not an easy task.
Entrepreneurs must not only have the drive but also supportive systems and institutions, Guyadeen said, noting that herein lies opportunities for bright and versatile university graduates.