Sri Lanka will be 5G enable, economy can catapult
-Dr. Rohantha Athukorala
Given that the Global 5G commercialization picking up and Sri Lanka already conducting commercial trials for 5G technology since last year, it is expected that Sri Lanka will have the support of 5G technology provided that the Government will release the spectrum to facilitate its adaptation said the CEO of ClootrackSri Lanka, Maldives and Pakistan at the Experience Sharing Forum in Kandy organised by the Sri Lanka Institute of Marketing( SLIM) staged at the Grand Kandyan Hotel.
The fact of the matter is that the future of the world is digitalisation and the use of Artificial Intelligence( AI). For instance at Clootrack we can identify the ‘ Equity of your brand/ company using artificial intelligence( AI), that can give insight to marketing strategy that can make your company more relevant in the eyes of the consumer said Dr Athukorala. But you must operate in a digital space. If not this cannot be done.
Sri Lankan economy with a debt stock of 55 billion dollars, inflation at 7.6%, consumer consumption dropping by 7.4% in the last quarter is in a challenging time given the outbreak of the Coronavirus strand Covid - 19. “unless we leap the economy with such technologies like 5G as per the new economic vision of the President Sri Lanka, we cannot be a 8% GDP economy said the speaker. Let’s accept it Sri Lanka at 2.6% GDP growth is last in the pack in the South Asian Region with aggress ive countries l ike Bangladesh at a commanding 8.1% GDP growth.
Embracing 5G- the next generation technology could be used to transform Sri Lanka into a digital nation. Machines to machine communication; also known as the Internet of Things ( IoT) which involves connecting billions of devices without human intervention at a scale not seen before is the new revolution is what is happening in the global market place. Data will be the new oil globally and we must be ready for this new r e vo l u t i o n vo i c e d Athukorala.
This has the potential to revolutionise moder n industrial processes and applications including agriculture, manufacturing and business communications. 5G also provides significantly faster data speeds and greater capacity keeping the world connected. New applications will include fixed wireless internet access for homes, outdoor broadcast applications without the need for broadcast vans and greater connectivity for people on the move. Let’s be ready for this new revolution said Dr Athukorala who is the Former Chairman of Sri Lanka Export Development Board and Sri Lanka Tourism and now sits on the National Olympic Committee( NOC) heading Marketing and is also the Strategic Lead for Swadeshi Industrial Work Plc the market leader for Herbal Personal Care products in Sri Lanka.
Sri Lanka Institute of Marketing is the pioneer for marketing education in Sri Lanka and invites top professionals to address the business community on the latest trends globally and the implication to Sri Lanka In t he Programmes themed ‘ Experience Sharing Forum’.