At a time when the world is trying to leave behind a period of low demand, productivity, and growth, there is a real expectation that a new wave of technological innovation is likely to revitalize the global economy. Heading up this expectation are various mobile devices via the internet (Fallon par. 3). The disruptive power of connections among millions of mobile devices may prove to be the biggest driver of economic growth and job creation in the next decade.
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Using the internet in mobile devices has already created new markets and triggered a new era of innovative services that can generate better revenue streams for manufacturers and suppliers of industrial sectors. According to a recent study by Accenture, the impact will be extended to two-thirds of the world’s economy and may have to contribute more than 14 billion dollars for the 20 largest economies in the world over the next 15 years (Page 21). The economic boost being generated by mobile devices to mature economies is a factor that contributes to a more equal global trade balance, especially among emerging economies.
Nonetheless, we need to investigate how mobile devices are pushing the global economy forward. Currently, the guidance by Geographic Positioning Systems (GPS), Geographic Information Systems (GIS) in healthcare, and myriads of other useful apps on smartphones as well as mobile devices make life more convenient for everyone (Page 27).
Even though the industrial world has not fully capitalized on the large-scale potential of mobile devices, companies are fundamentally using the internet to increase efficiency, reduce costs, and improve risk management. For example, oil refineries protect their workers by equipping them with mobile devices with gas sensors that can trigger alarms whenever they are exposed to risks. In the mining industry, equipment with remote control allows more accurate excavation and better profitability.
The next evolutionary step entails unlocking flows through the enhancement of data that can be captured and shared by smart mobile devices (Fallon par. 6). Thus, industrial companies have a golden opportunity to go beyond the sale of products to improving remuneration models used in the provision of services as well as enhancing the availability and monetization of assets. In other words, mobile devices push for positive economic results in addition to seeking deliverable and measurable outcomes tailored towards customers’ needs instead of just manufacturing basic products (Page 30).
The trends in the digital world through mobile devices have significantly improved the automation of tasks daily. By creating new markets, mobile devices have enabled professionals to develop more complex tasks. These devices have also made it possible to develop new categories of employment because they increase the level of sophistication of jobs and inspiring greater collaborations that are essential in the growth of an economy.
The vast majority of organizations are not ready yet to pursue these opportunities. In a survey by Accenture to more than 1,400 top executives, only 7% have developed strategies consistent with their investments in this area, while 71% acknowledge that their companies are yet to make concrete progress on mobile devices and the power of the internet (Fallon par. 7). This slow start may be because many countries are not having all the basic requirements for this revolution to revitalize their economies. We can expect an increase of 2% in GDP in the US, the Nordics, and Switzerland by 2030 through the input of mobile devices.
Fallon, Nicole. 5 Trends That Are Shaping Mobile Commerce. 2014. Web.
Page, Tom. “Use of Mobile Device Apps in Product Design.” International Journal of Green Computing (IJGC) 4.1 (2013): 18-34. Print.