'Futurist' Schenker: "Korea Will Become a Country That Can See the Future of Technology... 'New New Normal' Is Coming"

4th Industrial Revolution Committee '2020 4th Industrial Revolution Global Policy Conference'

Online live broadcast screen capture

[Asia Economy Reporter Seulgina Cho] "Be the country people look at to see the future of technology."

Jason Schenker, a world-renowned futurist and chairman of Prestige Economics, presented 'the future of technology' as the path South Korea should take in the era of the 4th Industrial Revolution. As a strong ICT nation, South Korea is expected to continue playing a leading role in utilizing new technologies such as artificial intelligence (AI) even under the 4th Industrial Revolution.

On the morning of the 27th, Schenker attended the '2020 4th Industrial Revolution Global Policy Conference' held online by the Presidential 4th Industrial Revolution Committee and made these remarks. Schenker, chairman of Prestige Economics and the Futurist Institute, is regarded as one of the most accurate financial forecasters and futurists in the world.

◆"COVID-19 Accelerates the 4th Industrial Revolution... The New New Normal is Coming"

In a special lecture via video connection, Schenker said, "The novel coronavirus infection (COVID-19) has accelerated the changes related to the 4th Industrial Revolution that had been underway," and predicted, "It will bring new opportunities to companies, governments, and organizations." He added, "Various technological services will be created, allowing many people to enjoy the benefits of the 4th Industrial Revolution," and "More opportunities will be created in AI and the ICT industry."

Schenker identified convenience and data trends such as AI as the fields expected to undergo the most change.

First, he analyzed, "Demand for online education, e-commerce, and telemedicine surged due to the pandemic. Trends that started years ago have now been fully established," and explained, "The reason for acceleration during COVID-19 is that new services meet people's needs, namely convenience." For example, with the activation of remote work and telecommuting, inconveniences and costs related to commuting have decreased, contributing to the environment as well. He predicted, "Education levels will gradually improve through online education, and economic and social benefits will increase."

He also forecasted explosive growth in demand for data trends such as AI, the Internet of Things, blockchain, and quantum computing. Schenker emphasized, "Unlike in the past, it is not just simple data collection but analyzing and utilizing data through AI to find value," and "ICT will become more important in the future." Regarding blockchain, he diagnosed that it will become an increasingly important area as remote business and online education become more active. Quantum computing, which has not yet fully materialized, is also expected to become important over the next decade. He added that through this, AI capabilities will advance to the next level.

Accordingly, Schenker diagnosed that many opportunities will arise in aspects such as remote living, security, non-face-to-face interactions, and data. He predicted, "As COVID-19 disappears and vaccines emerge, a 'new new normal' may appear," and "If we are currently experiencing the new normal, the next stage will bring the new new normal, accelerating trends such as non-face-to-face interactions." Additionally, he identified data regulation and governance as key policy issues.

Yoon Sung-ro, chairman of the 4th Industrial Revolution Committee, is having a video conversation with futurist Jason Schenker at the '2020 4th Industrial Revolution Global Policy Conference' held online via live streaming on the 27th.

◆"South Korea Will Become a Country to See the Future of Technology"... Repeated Emphasis on the Importance of Education

Schenker also presented a vision for South Korea: to become a country that people look to for the future of technology.

He emphasized, "South Korea will continue to play a leading role not only in traditional ICT but also in new technologies such as AI," and "Under the 4th Industrial Revolution, South Korea must become a country that can see the future of technology. I firmly believe this will happen."

In a subsequent dialogue with Yoon Sung-ro, chairman of the 4th Industrial Revolution Committee, Schenker reiterated the vision of 'the future of technology,' explaining, "Looking at South Korea's ICT development over several decades, one cannot help but think this way. This vision also synthesizes various activities South Korea is already undertaking, such as the Digital New Deal." He added, "Through this, South Korea can move to the next stage as a future nation."

Regarding the government's role in digital transformation, Schenker evaluated Yoon's question by saying, "I think the Korean government's approach to the 4th Industrial Revolution, including policies to promote the ICT industry and digital transformation, is appropriate."

Schenker also spoke about the impact of AI on the labor market, such as replacing people's jobs. He said, "It's a difficult question," but answered, "Technology has always created new jobs. Even if some jobs disappear, new jobs will be created, and workers in past jobs will move to new, higher-level jobs through education." For example, truck drivers, a common occupation in the US both past and present, could become 'autonomous truck system engineers' in 40 to 50 years.

Schenker particularly emphasized the importance of education. Citing technology, capital, and labor as levers of economic growth, he said, "In a situation where population growth is slowing, it is necessary to utilize these factors well. The key is education," and diagnosed, "Problems can be solved through additional education." He added, "This has always been the case in human history," and "This is not a risk we are encountering for the first time." The message is to respond to changes of the times through continuous and high-quality education.

Finally, Schenker mentioned the importance of education as advice for young people in the new new normal era, emphasizing, "Even if employment is difficult, do not be discouraged and continue to invest in yourself for the future."

Meanwhile, the conference was held to commemorate the first anniversary of the AI national strategy announcement and to discuss response strategies for the AI era with domestic and international scholars and experts. The main session included presentations and discussions on three topics: AI policy and science and technology innovation, acceleration of digital transformation and industrial economic innovation, and digital healthcare and social system innovation.

Minister Choi Ki-young of the Ministry of Science and ICT, in his congratulatory speech, said, "We regard AI as a core factor that will determine the nation's fate and will spare no comprehensive support," emphasizing future policy promotion including creating AI innovation cases in all fields, bold investment in AI semiconductors, and establishing AI ethics guidelines.

This content was produced with the assistance of AI translation services.