Cross-organizational, cross-sector collaboration is increasingly paramount to ensure the full range of perspectives, applications, opportunities and concerns are considered when developing and deploying new technologies.
Being the powerhouse of technological development, the TMT sector is a natural center of gravity for collaboration, innovation and social change. Not only does it attract and retain some of the brightest scientific and engineering minds in the world, it has a strong financial and asset base for R&D. It also has an ability to create and access the world’s most advanced technology infrastructures – and to collect, analyze and monetize a vast proportion of private and public data.
Yet the TMT sector’s challenge is bringing together leaders of the industry, former employees, government officials and academics from different disciplines in a serious collaborative effort. It’s about joining, informing, supporting and funding useful collaborative initiatives – such as EY’s Embankment Project for Inclusive Capitalism (EPIC), which represents a variety of participants from across the entire investment chain. The Project works to identify the value drivers important for sustainable and inclusive growth, as well as potential metrics for assessing these.
Already, a host of other organizations have emerged to examine the area – including universities, think-tanks, and NGOs. Leading TMT organizations are also taking proactive measures in terms of governance and management, working to provide their employees and investors, as well as customers and consumers, with guidance and direction. Many leading organizations have adopted ethical codes to this end. And over the last year, we’ve seen many take a far more proactive role in public debate and dialogue.
Yet whether Globalization 4.0 is truly realized will largely depend on the level of integrity, ethics and proactivity employed by the organizations driving it. The conversation of digital ethics is happening now – the TMT sector needs to play a leading role in shaping the next phase of the dialogue, while also being ready to listen. Only then will it be able to truly imagine and shape what could come beyond, and seize the upside of disruption with responsibility and sustainability.