Turning globalization 4.0 into a real and sustainable success for all stakeholders

Abstract

The paper aims to provide an overview of the major opportunities and challenges of the fourth phase of globalization in the current macro scenario characterized by a high level of economic and geopolitical complexity and uncertainty. The assumptions and results reported in this work are based mostly on the judgmental opinion of the author and on his critical analysis of macroeconomic data and global trends. The author of the paper is a seasoned chief economic advisor and professor of global economics and disruptive innovation. Forecasting global market trends and future scenarios in a highly unpredictable business environment is always a complex task which cannot be undertaken simply relying on quantitative research techniques based on historical datasets since the past is not always a good predictor of future events. The qualitative approach adopted for this research is based on multiple forms of data sources and the following activities: (1) identification of the key forces and trends in the environment (i.e. environmental scanning); (2) assessing the driving forces and trends by importance and uncertainty; (3) envisioning potential alternative scenarios; and (4) assessing the potential implications of each trend and scenario. The result of this analysis confirms the central role that technological development is likely to have in the near future as a major driver of disruptive change in the economic and social models of many countries and leads to the conclusion that the groundbreaking and disruptive innovations of the future should be perceived as a potential opportunity and not just as a threat by stakeholders in the international community.

Making Healthcare Systems More Efficient and Sustainable in Emerging and Developing Economies Through Disruptive Innovation: The Case of Nigeria

“…In the mobile technology era, smartphones and tablets for example are becoming devices of disruption of traditional personal computers and traditional firms' business models based on the "brick and mortar" distribution of products and services. The traditional concept of product ownership is being redefined by a growing attention of consumers to the benefits of "access and use" of shared resources versus the benefits of ownership; by their preferences for companies that pursue also a social purpose besides shareholders' profit maximization; by a rising attention to sustainability goals and the ecological impact of resource utilization; by the need for more customized solutions; and by new ways of shopping and experiencing products' consumption thanks to digital and mobile technologies, which allow them to share in real-time digital and physical in-store experiences with other members of their digital community and with the surrounding environment (i.e., IoT devices, multisensory interfaces, and AI-based technologies, smart cities' interfaces) (Pezzuto, 2019b 10) What percentage of the lower-income, underserved, and/or underreached Nigerian population is likely to be reached and served by the Mobile Healthcare and Telehealth services in the next 3 to 5 years?…”

“…Blockchain and its distributed ledger technology may give patients more control of their data; improve reliability, security and accuracy of data recording, and help reduce costs. Blockchain-based electronic Health systems may create significant improvements in medical records management (Pezzuto, 2019b). Mshali et al (2018) highlighted the role of machine learning in enhancing the efficiency of sensor data analysis in health monitoring activities.…”

“…Still, other relevant examples of successful applications of technological innovations in emerging and developing economies include the use of Zipline drones (the drones of Zipline, a medical drone manufacturing company) in Rwanda for the delivery of medical supplies to local hospitals. ; GE Healthcare's ultra-portable, battery-operated electrocardiogram machines specially designed for use in rural clinics in India; Mashavu's Project of Telemedical kiosks for remote diagnosis in Kenia and Tanzania, and the innovative technological devices designed to help speed up tests in Botswana for children's cures (i.e., for diarrhea) (The Medical Futurist, 2019) (Pezzuto, 2019b).…”

Big data, 4IR and electronic banking and banking systems applications in South Africa and Nigeria

“…A real-time flow of information that facilitates the rapid exchange of knowledge through the adoption of big data will drive the growth, competitiveness, and productivity of companies (Pezzuto, 2019), including banking operations. Banking systems play a key role in facilitating sustainable growth and regional integration.…”

“…Hence, virtual business information systems must be adapted by banks to take advantage of these technologies. A recent study hypothesized that mobile banking services, cryptocurrency, and e-commerce platforms that is built on sustainable, but enhanced networked solutions, will drive future global enterprises, including banking solutions (Pezzuto, 2019). And future banking systems will continue to provide e-payment services, mobile or virtual banking, and electronic fund transfers, provided that matured business and IT alignment is maintained.…”