A key for growth in Thunder Bay?
Race with the pace of digital technologies
The progression of digital technologies (cause) is impacting Thunder Bay’s economy (effect) like never before. The Northwestern Ontario Innovation Centre “bridges” these two forces together with our Technology Assessment and ICT Connection programs. These program help businesses in our community remain competitive and keep pace in this rapidly evolving digital age.
Digital Technology Progression (cause)
We’re at an inflection point where the pace and development of digital technologies is reshaping the fabric of government, the economy, and society in ways we could have never imagined ten years ago. At the same time, embracing the forces of change also opens up new opportunities. It's a matter of knowing where to look, and how to embrace the changes. Just like the Industrial Revolution changed our way of thinking and doing business, so will the Digital Revolution.
Thunder Bay’s Economy (effect)
We already operate in a global digital world. But not every business in the region is on board. To prepare, organizations are going to have to invest in new skills and think hard about how they want to restructure the way the company works. Instead of being passive observers they’ll need to become students of technology, and advocates for change; not just consumers of tools and software. This won’t be easy for business leaders who are not prepared to change. But for those who are ready to take on the new challenge, it is going to be a very exciting next few years.
Digital adoption as well as digital skills are two ways in which the local private sector SMEs can grow and diversify their operations and compete more on a global and local scale. The city must continue to not only focus on entrepreneurs and new business ventures but also the ability to grow the city’s existing SME’s through digital adoption and digital skills. Digitally adopting productivity enhancing technologies and acquiring people with digital skills can increase Thunder Bay’s economic growth and labour productivity.
The Northwestern Ontario Innovation Centre (bridge)
The Northwestern Ontario Innovation Centre has two programs that focus on bridging the progression of digital technologies with growing our local businesses economic growth. Our Technology Assessment Program focuses on assisting local businesses adopt digital technologies to help them drive growth, while also making their operations more efficient. The ICT Connection database connects local businesses with regional individuals and businesses who have Information Communication and Technology skills. If the goal is to change a city, people must be engaged. If the goal is to revolutionize a city, encourage people embrace digital technologies. People plus digital technology is a powerful 21st Century force and one that can economically grow our city in an age of rapid change. “In the new world, it is not the big fish which eats the small fish, it’s the fast fish which eats the slow fish” - Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.
-Anthony Scaffeo