The pedigree of one’s education in esteemed Western institutions or extensive experience in financial institutions may not hold sway in the face of the paramount importance of comprehending the synergistic impact of science, technology, globalization, and brainpower development, collectively referred to as the 4F paradigm.
The IMF, World Bank, Asian Development Bank, and their followers often overlook a fundamental distinction between statisticians and economists. Statisticians primarily rely on manipulating data and figures related to macroeconomic indicators.
What they fail to comprehend is that economics cannot be divorced from the human beings who not only constitute a crucial factor but also for whom economics is intended.
Furthermore, many of them fail to grasp that indicators cannot be enhanced without the inclusion of all fundamental economic factors. For instance, they fail to appreciate the fundamental importance of the economic base in comparison to the tax base.
The expansion of the tax base proves inadequate unless there is a simultaneous diversification and deepening of the economic base, both horizontally and vertically, promoting inclusive development and an economy that embraces inclusivity.
Consider whether the proponents of the Fourth Industrial Revolution have delved into the intricacies of brainpower development. What is commonly understood is the term “human capital,” yet a profound distinction exists between this and the nuanced understanding of brainpower development.
Critical to grasp is the notion of brainpower development, a concept often overlooked amidst discussions of human capital. While the term “human capital” is widely recognized, it falls short in capturing the depth and qualitative essence of brainpower development.
Should policymakers, economic strategists, and administrators lack a comprehensive understanding of brainpower development and the holistic implications of the 4F framework, their educational backgrounds — be it from prestigious Western institutions or informal learning in developing nations—may pale in significance.
The 4F and Brainpower Development: A New Competency
The concept of the “4F” - Science, Technology, Globalization, and Brainpower Development - embodies a holistic comprehension of the forces that have revolutionized the world in the post-internet era and are actively shaping our future. While a traditional education and experience in financial institutions might have been valuable in the past, the 4F demands a new kind of competency: the ability to leverage brainpower development.
Brainpower Development vs. Human Capital
Human capital traditionally refers to the skills and knowledge individuals possess that contribute to economic productivity. Brainpower development, however, goes beyond this. It encompasses:
Cognitive Skills: Enhancing memory, critical thinking, problem-solving, and learning agility.
Creativity and Innovation: Fostering the ability to generate new ideas and solutions.
Adaptability and Lifelong Learning: The capacity to learn new skills and adapt to a rapidly changing environment.
Emotional Intelligence: Understanding and managing emotions effectively, both personally and interpersonally.
The 4th Industrial Revolution and Brainpower
It is worth mentioning that the authors of the 4th Industrial Revolution (Industry 4.0) have not only overlooked the term “brainpower development,” but they have primarily concentrated on the science and technology aspects of this revolution. This omission by these authors is of significant importance and needs to be emphasized. The essence of this concept is not even integrated into the framework itself.
Industry 4.0 primarily emphasizes advancements in automation, artificial intelligence (AI), and big data.
What they have failed to appreciate is the fundamental role of human beings and their cognitive development in driving the super-exponential growth of science, technology, and the process of tech globalization. Undoubtedly, brainpower development, science, technology, and globalization have been interconnected, mutually reinforcing and transforming one another as they continue to advance.
Beyond Degrees: The Importance of a “4F Mindset”
We must recognize that the traditional model of primary, secondary, college, and university education, which has been in place for 300 years, is no longer relevant; in fact, it is counterproductive. The world as a whole has progressed beyond this outdated paradigm. The truth is, we no longer require universities, colleges, or even PhD degrees. It is crucial to understand that education serves two purposes: enlightenment and skill development. Nowadays, children can achieve discrete development at a very young age. They can be exposed to the vastness of the world, expanding their imagination far beyond what someone with 30 or 40 years of experience could ever comprehend.
The Impact on Policymakers and Leaders
Leaders who lack a grasp of brainpower development and the 4F will struggle to:
Develop effective policies for the future: Policies need to address the challenges and opportunities presented by the 4F.
Foster innovation and economic growth: A workforce which must include all human beings equipped with advanced brainpower is crucial for sustainable development.
Prepare their citizens for the changing world: Education systems need to prioritize brainpower development alongside the new skills.
Impact of 4F on new generation
The 4F paradigm, encompassing science, technology, globalization, and brainpower development, holds immense significance, particularly for today’s children who are growing up in a world defined by technological advancements. Unlike any previous generation, these young individuals are immersed in a digital environment from birth, surrounded by advanced technologies that shape their everyday experiences.
This new technological landscape, characterized by the pervasive presence of digital tools and platforms, equips children with an unprecedented capacity to engage with and create technology. Even without formal training, they demonstrate a remarkable ability to generate new ideas and innovate, leveraging the intuitive nature of modern digital interfaces.
This trend is particularly pronounced in the era of artificial intelligence (AI) and generative AI, which has witnessed a historic debut on November 30th, 2022. With the advent of AI, children have access to even more powerful tools for creativity and innovation, further accelerating the pace of technological development.
What sets this era apart is the unprecedented speed at which new tools, applications, software, and technologies emerge. This rapid and exponential growth in technological advancements is reshaping every aspect of society, from how we communicate and learn to how we work and play.
For children growing up in this era, the implications are profound. They have the opportunity to become active participants and creators in the technological landscape, driving innovation and shaping the future of society. However, this also presents challenges, as it becomes crucial to ensure that children are equipped with the necessary skills and knowledge to navigate this rapidly evolving digital world responsibly.
In essence, the 4F paradigm underscores the importance of recognizing and nurturing the innate creativity and potential of today’s children, who are poised to lead us into an era of unprecedented technological advancement and innovation. By providing them with the support and resources they need to thrive in this digital age, we can harness the full potential of the 4F paradigm for the benefit of humanity.
In the era of artificial intelligence, especially with the emergence of generative artificial intelligence, policymakers and economic managers confront a pivotal challenge: to break free from the confines of outdated paradigms rooted in pre-Internet education and training.
Here’s why this shift is imperative:
1- Incremental Solutions are ineffective:
The problems we face today cannot be adequately addressed with piecemeal adjustments. The complexities of our interconnected world demand a comprehensive overhaul of our approach to governance, economics, and policymaking.
2- Need for Radical Change:
Incremental improvements are no longer sufficient to drive meaningful progress. What’s required is a radical departure from traditional modes of thinking and a willingness to embrace innovative strategies that align with the realities of the in the generative artificial intelligence.
3- Agility in the Face of Technological Evolution:
Rapid advancements in technology, particularly in AI, necessitate a level of agility and adaptability that traditional frameworks struggle to accommodate. Policymakers must be prepared to swiftly respond to technological disruptions and leverage emerging opportunities for growth and development.
They should prepare both themselves and the people of the country for the forthcoming era, one in which there could be millions of software developers, technology workers, and innovators equipped with generative artificial intelligence on their phones, computers, and other tools. Who knows when artificial general intelligence will become a ubiquitous presence among us? It may not be too far off, and the timeline may be shorter than we anticipate.
Copyright Business Recorder, 2024
The writer is an Advocate, techno-economist and former civil servant. [email protected]
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