1. Measuring productivity in traditional economic terms has been challenged by the Gig economy and its processes: ubiquitous connectivity is destroying traditional value such as in the taxi, hotel or retail markets but is creating new value as different parties are brought together on the exploding number of platforms for consumer and business use.
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Mark Gregory, Chief Economist at Ernst & Young in London discussed the economic realities of telecoms and the digital economy going forward. Here are the key themes that emerged:
2. ‘Digital’ was formerly about hidden components such as semi-conductors, servers and 3D printing. It’s now all pervasive and, from an economist’s perspective, it’s about how all industries work, the potential impact of technology and where value is created.
3. Telecoms (broadband) should have a relatively bigger role going forward but that depends on how it evolves and how it allows other industries to evolve.
4. 5G is what some of the financial community are most worried about in terms of another big chunk of investment being required.
Source Credit: Total Telecom