Why is an interconnected industry important?13. 12. 2020 Sunday / By: Robert Denes / Generic / Exact time: BST / Print this page
Read this post in which Nokia CEO Pekka Lundmark writes about why an connected industry is important in 2020 during a pandemic. Pekka describes below his own perspective on how working from home has become the norm in everyday life in 2020.
An uneven revolution
Let's rewind a few decades.The explosion in computing in the 1990s saw about 70 percent of private IT investment flow to digital industries – banks, marketing and so on – often associated with higher salaries and white-collar jobs. That was fine in principle, as long as those sectors also provided around 70 percent of private employment. But the real figure was more like 30 percent. The big employers were the so-called physical industries, including farming, manufacturing and healthcare. Despite their outsize role in job creation, they had to make do with relatively scant ICT investment. And as a result, productivity, profits and pay went up in those white-collar sectors. Elsewhere, they stagnated. But there is good news. Because while overall ICT spend is projected to grow at around 6.5 percent annually over the next decade, it will be weighted towards those critical physical industries. The historic 70/30 ratio will flip to more like 35/65 in favor of those hospitals, factories and farms.