Which parts of Western economies are going to drive the recovery?
* Governments are desperately seeking to cut borrowing in the private sector which, it is hoped, will give impetus to a full-blown recovery.
* The real conundrum, explains Ian Stewart, Deloitte‘s Chief Economist, is from where the growth will be derived.
“History suggests a good deal of future activity will come from sources of which we currently have little, if any, awareness.”
* Innovation and disruptive creativity are the forces which reshape economies and this is not easy to predict.
“Tim Berners Lee could surely not have guessed at the transformational effects of the World Wide Web when he invented it 20 years ago.”
* Unforeseen uses for technologies are creating economic effects that often were not even envisaged by their inventors or the companies that they were working for. It is up to the true innovators and creative businesses to unravel this from their current portfolio of products and their portfolio of technologies.
“Since the Industrial Revolution the world has been transformed by a series of technologies and processes – from electricity and mass production to the jet engine and the microchip. These are General Purpose Technologies, ones which can be widely deployed, affecting both household life and the structure of business.”
* Creativity and Innovation: A technology which has a good claim to be the world’s next General Purpose Technology is 3D printing. Also known as additive manufacturing (AM), it involves using a 3D computer design of a product to create, layer-upon-layer, an object. In the same way that photocopying transformed the reproduction of two dimensional images AM printing offers the prospect of a revolution in our ability to reproduce three dimensional objects.
RWR wholeheartedly support companies in this area and offer them opportunities to help leverage their Creativity and Innovation.