Commentary
These days the word “tech” typically brings to mind the internet, apps, and social media. It is only reasonable. These aspects of technology have come to dominate daily life for many. But technology is a whole lot broader than social media or even the internet, and it is poised to revolutionize how the entire economy works.
The best way to anticipate where the change will occur is to consider those areas of economic life that cry out for technological solutions. The need for more resilient supply chains, for example, will demand data sharing, constant communication, and coordination, things that cloud computing offers. Opportunities in fintech are another, especially in insurance, where fewer inroads have been made to date. Health care’s need to provide its critical services more effectively and cheaply looks like another area where tech can provide answers and accordingly make gains. There is also every reason to believe that tech will play a role in helping the economy cope with an aging population and with today’s great anxiety: climate change. The picture is far from clear. The future never is. But outlines are visible….