Conventional wisdom could dismiss the role of information & communications technologies, globally known as ICT, as simply being a support function or tool for any public/private enterprise and consumers … unless you view from the lenses of global economic changes that are shaping our lives at home, at work and on the road.  Let me explain briefly why.

About 100 years ago, our globe was gyrating with manufacturing economy.  The critical elements of that economic order were:

-    raw material
-    manufacturing capability to transform raw material into (un-)finished goods
-    transportation to bring raw material or unfinished goods to factories, and finished goods to consumers

The economy was both capital- and labor-intensive.  One needed sizeable $-capital to build manufacturing capability while minimizing transport costs and sourcing cheap labor, therefore only powerful nations or checkbooks could participate and succeed in such economy.

As you know, situation has changed quite a bit, since then.  We are now gyrating with what is termed as value-added or service-driven or knowledge-based economy.  The critical elements of this economic order are:

-    raw data
-    processing (a combination of people and automation) capabilities to transform raw data into useful information
-    communications infrastructure to transfer raw data or useful information between suppliers and consumers

This new economy is human-capital intensive, where people with higher skills and quality experiences are playing a dominant role, regardless of their location.  In such global economic order, even a small economy, like a village in Uttaranchal province of India, has just as good potential to compete and succeed as is for developed nations.

This is really good news for countries that could not participate in the last economic go around due to lack of capital or did not exist as an independent country.  Not a surprise then, many developing countries are re-focusing on good education, quality business environment and good computing/ communications infrastructure … key ingredients for a successful value proposition in the new economic order.  I am witnessing a few countries contemplating the same, across Americas.

Leaving broader economic issues or opportunities aside, closer to home, it certainly feels good to me that our profession and industry, ICT, is earning a deserving respect in governance, policy and business circles.  I am sure many of you have good reasons to feel it too in your everyday experiences.

Before closing let me say few words about emerging ICT technology trends.
From investment, development or career perspective, following four trends
offer unique opportunities . (1) systems transitioning into services; (2)
technology convergence in core infrastructures; (3) broadband in the access
with significant focus on WiFi/WiMax deployments; and (4) media (voice,
video, and data) convergence at the end user platforms.

From technology management perspective, however, following three different
trends offer either challenges or opportunities . (1) unabated pace of
product life cycle reduction; (2) sustained pace of improvements in product
features (size, cost, performance); (3) usage/traffic growth in almost all
facets, including in domestic as well as international fronts, due to
increased businesses or households being connected with broadband, globally
(Metcalfe's law).

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