Keep the FIRe burning

Even before the pandemic, firms in the Philippines
have been urged to capitalize on innovation to improve
their competitiveness and productivity.

In a 2015 Survey of Innovation Activities (SIA) of
Establishments led by Philippine Institute for Development
Studies (PIDS) senior researcher Jose Ramon Albert, only
42.9 percent of the local firms were found to be
innovation active, with larger-sized firms innovating more
than micro, small, and medium enterprises (MSMEs).
Among local firms, innovation activity was lowest among
microenterprises at 33.9 percent. MSMEs account for 99.6
percent of the total establishments in the
country.(https://rb.gy/98ucu)
We are in the era of the Fourth Industrial Revolution
(FIRe) where technological breakthroughs and the
interplay of a number of fields, including advanced
robotics, artificial intelligence (AI), nanotechnology,
neurotech, data analytics, blockchain, cloud technology,
biotechnology, Internet of Things (IOT), and 3D printing
have become part of our daily lives.(https://rb.gy/rocx6)
These various FIRe technologies are already being
adopted by Philippine industries, although in varying
degrees of diffusion. The extent to which all the potential
benefits will be realized from these technologies depends
on the country’s ability to overcome its capacity to aptly
adapt to the global disruptions expected to come along
with the FIRe.

The pandemic has accelerated the pace of innovation
in government and the private sector worldwide. As
economies open and experience exponential growth, some
sectors of the economy face the dilemma of embracing
new disruptive technologies like a natural language
processing tool driven by AI technology that allows you to
have human-like conversations and much more with the
chatbot.
Sooner or later, advanced technologies will displace
workers as they have difficulty innovating their skills and
catching up with rapid technological advancements.
Should the government intervene and nip disruptive
technologies in the bud?
The government cannot regulate innovation using
obsolete regulations. It must always make its policies
based on the current realities. It must nurture innovation,
allowing it to flourish and solve human problems. But
humans should not be made sacrificial lambs on the altar
of science and technology. Keep the FIRe burning but
with extreme caution not to cause any harm to human
beings.