Economy in the Age of the Knowledge Economy
This era is called the Age of Knowledge, and this was the result of the new changes in the world in various fields, and the rapid development of the Technology and Information Revolution on a large scale,
A consultant who prefers to be considered as a partner in finding solutions to problems and gaining achievements.
Is made up of leading directors of academic institutions
Vice Chancellor & Vice Chairman of the Board
Offering Neurofeedback and Biofeedback training
Founder and President of Smart Tips Consultants
This era is called the Age of Knowledge, and this was the result of the new changes in the world in various fields, and the rapid development of the Technology and Information Revolution on a large scale,
In 1983, a researcher named David Chum published a research paper that showed the concept of digital money, which existed in theory from that date until 1990, when Digikash in Amsterdam founded an electronic payment company aimed at marketing David Chum’s research ideas.
In my previous articles, I mentioned that a knowledge economy is an economy in which knowledge resources such as research, creative skills, talent of all kinds, and technical expertise, are critical, and a priority for other economic resources, which are at the forefront of this as an alternative to the manufacturing economy, or the industrial economy. According to the British definition, the vitality of the knowledge economy lies in the expertise and distinctive management of competitive knowledge services and products.
If we are going to talk about the Fourth Industrial Revolution, it is necessary to be exposed briefly to the stages that preceded this revolution. The First Industrial Revolution was based on the energy of water and steam engines to produce mechanics: the invention of James Watt, in 1775, contributed to the extension of industry in the 19th century from England to Europe and the United States, and the Second Industrial Revolution was based on electric power to create mass production, and this was the most important feature, which began in the early 20th century with the creations of Henry Ford in the production line.
The old philosophers stressed that knowledge is power, that knowledge and human power are sprawling, and that the most painful thing for Man was to have knowledge, but lack the strength and that power, which means action and the ability to apply knowledge and transform it into an economy, because that is the ultimate goal in life.
There is a wide-ranging debate about the future of human jobs, coupled with the prosperity of the knowledge economy, the development of technology, and the devices of artificial intelligence, and it may be said that an employee in this economy may lose his job in the traditional reality, but what must be noted is that alternative jobs have begun to function and are trying to find space in the human world, provided by the knowledge economy in the worlds of technology in general.
If the economy is the key factor in shaping life, maintaining leadership, and sustaining growth and prosperity, according to His Highness Sheikh Mohammed bin Rashid, requires a transition to the age of the knowledge economy as soon as possible.
The digital economy is defined as an economy that relies mainly on information technology, which means every stage of information manufacturing, from culture, training, and teaching, through the manufacture of physical computer parts and components, and then to the manufacture of computer software, or something computer-based, in one form or another.