SECTION G FEBRUARY 29, 2016
TECHNOLOGY: STILL DRIVING THE GROWTH
F
OR the last few years, we have seen how can help a developing nation such as the Philippines economically, With the benefit of globalization, technology-driven improvements in communication and accessibility to information, even infrastructure, we are able to adopt innovations from developed markets, and build on them to address problems in various sectors such as unemployment and income inequality, agriculture, health, security while leveling the playing field for small–even micro–businesses.
Through technology, we are able to raise education levels and accelerate growth. This can be seen in the consistent inclusion of the Philippines in lists of emerging and growth markets. The rapid development of digital technology and resultant low cost offers the opportunity to level the playing field–jumping over the hindrance of resource constraints such as the high cost of physical infrastructure. With the advent of smartphones and mobile devices, online shopping, mobile banking and e-
learning, the need to put up oftentimes unprofitable retail outlets and brick -and-mortar branches in lowtraffic areas are reduced. E-learning programs and facilities also improve the reach and accessibility of the training and education needed. By improving education, encouraging business and providing basic infrastructure for the new technologies, we can make the most of the opportunities offered by technology. And perhaps, catch up with the rest of the world.