The concept of Big Data has rapidly emerged as web and telecoms-based networking has expanded on a global scale. Christopher Surdak explores how this could affect the job market in terms of the population’s talent, skill and expertise, and the impact this could have on our society and economy.
Two or three decades into the globalisation revolution, you may have noticed that the world feels smaller and smaller as the days pass. In 2014, at least five billion people have daily access to the internet. Indeed, network connectivity has become so important for survival in today’s world that many people forego other basic necessities such as food, shelter or clothing, in order to pay for and use mobile devices. Access to telecommunications allows people to obtain basic services, connect with their community and respond to emergencies when they occur. Connectivity can, however, be much more than a means of sharing one’s voice.
For many people in emerging nations, being connected to the internet is not only a means of participating in the world economy; it is their primary means of improving their living standard and lifting themselves out of poverty. According to a study by the Brookings Institute,1 the global economy may absorb over a billion new entrants into the global middle class over the coming decade; the vast majority of these people coming from underdeveloped regions of Africa, South and Central America, and Asia. These billion people will seek to lift themselves out of poverty on a wave of consumerism that is likely to stretch the global economy’s ability to grow, resulting in a wide range of consequences.