Colin McGann, Assistant General Manager of Innovation at MC Systems, the technology arm of The Jamaica National Group said businesses, academia, government and civic leadership are to be empowered so that they can collectively innovate.
“From that vantage point it becomes clear that that innovation, is a driver of evolution. It can be considered, both the tool and the impetus for change…,” he said.
He said this way, the entire industries, sectors and even communities can be saved from “evaporation”.
“The JN Group, through MC Systems, has been on a mission to lead with ideas and expertise using emerging technologies to solve complex problems and deliver greater value to our customers, community and stakeholders since 1973,” he pointed out.
Minister of Science, Energy and Technology, Hon Daryl Vaz urged businesses to be more agile in conducting trade as the COVID -19 pandemic has accelerated the digitalisation of businesses.
“We are seeing a digital explosion of extraordinary proportions where businesses are concerned,” he said. “Global firms McKinsey and Gartner state that COVID-19 has accelerated the digitalisation of customer interactions by several years, as customers have moved dramatically towards online channels.”
He disclosed that by 2023, Gartner anticipates that $30 billion in revenues will be generated by products and services that did not exist pre-pandemic; and by 2024, 80 per cent of technology products and services will be built by those who are not technology professionals.
“And that is the power of innovation. Ladies and gentlemen, the future is already here and as industry leaders, you must lead the charge in your organisations, businesses and even within your household. Ladies and gentlemen, we have no choice but to evolve with the times, innovation is integral to our survival as people,” he said.
He underscored that without innovation and entrepreneurship, the country will not be globally competitive.
llsa duVerney, founder and chief executive officer CARI-CODE, and chairman, designate of the Jamaica Chapter of the International Association of Innovation Professionals, (IAOIP), said it is prudent to create and look to the future, such as Industry 5.0- a concept that centres on the cooperation between man and machine and human intelligence works in harmony with cognitive computing.
“As Industry 4.0 moves to 5.0, robots and humans ‘co-llaborate’. Robots become co-bots who are virtual apprentices to us humans and so they will, for example, be collecting the tools for us to help us and give us more time to think, innovate and relax,” she explained.
She further noted that the envelope is being pushed by the Japanese who have coined the term ‘Society’ 5.0.
“So it is no longer Industry with the focus mainly about machines. Now we are in the organisation development era where emphasis is on developing persons first, so it is very personalised and we are now moving to a revolution of ‘Society’ – 5.0. In Society 5.0, people will be liberated from various constraints,” she said, underscoring that people will be able to live, work and be free from oppressive influences, and be free to create value in harmony with nature.
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