A new study by a UK-based leading deep tech analytical agency has identified the key trends in the rise of Asia’s technological, economic and financial development prospects.
The analysis by Deep Knowledge Analytics, a subsidiary of Deep Knowledge Group specializing in forecasting on the convergence of technological megatrends, features two case studies that profile 2,400 companies, 1,300 investors, 100 hubs and 425 financial institutions in Asia.
It also identifies key factors that give the region extremely strong prospects to become a future global leader in multiple technological and financial sectors, Deep Knowledge Analytics has said in a release.
The analysis, titled 'Future is Asian: DeepTech & AI and Financial Institutions in Asia', is inspired by the book 'The Future is Asian' by Dr Parag Khanna. The book is a reflection of current world tendencies, defending the idea that there is no turning back from today’s multipolar, multi-civilisational order.
Deep Knowledge Analytics’ Future is Asian Analytical Dashboard takes the assumptions presented in that book as its starting points, and aggregates a wide array of specific information, data and analytical components to provide deeper insights into the many areas of technological, economic and financial developments in a customizable and interactive manner.
The project’s primary dashboard includes dedicated components on specific areas of Asian socio-economic development:
- The Socio-Economic Development section of the dashboard analyses major changes and perspectives occurring in Asia and identifies their distribution of socio-economic benefits, especially in terms of export-import incentives, potentially available to the majority of Asia’s population.
- The Industrial Development section of the dashboard reveals key factors behind Asian’s leading positions in manufacturing due to being home to the largest share of global production and the highest exploitation of vehicles and tools, while also underlining challenges and unrealised potential for transformation of the energy sector.
- The Global Entrepreneurship Development section of the dashboard conducts an international and benchmarking analysis between the global centers of entrepreneurship and rising Asian startup ecosystems.
- The interactive IT-Platform also contains two specific special case studies that deliver deeper insights into two sectors in which Asia has extremely strong prospects for growth and international dominance over the coming decade:
- Deep Tech & Artificial Intelligence Industry in Asia Pacific Region 2020, which says the development of the Deep Tech and Artificial Intelligence (along with several other disruptive domains of research) will fuel the growth of many other tech-focused sectors, as well as propel growth in entire Asian national economies.
- Financial Institutions in Asia focuses on the current financial industry landscape in Asia, and forecasts its growth prospects over the next decade. As the share of the Asian GDP in the world economy increases, the interest of international financial institutions in expanding into Asian markets is increasing proportionally.
Key Takeaways from the Analytical Assessment ‘Future is Asian’:
- Almost all Asia-Pacific nations felt the effect of the coronavirus-induced crisis and 2021 will mark the recovery for the vast majority of them. China, for example, the world’s second-biggest economy, saw growth of 4.9% between July and September, 2020, compared to the same quarter in 2019. This trajectory of growth is expected to continue into 2021.
- Rapid adoption of Artificial intelligence in the Asian Healthcare sector is being driven by aging population (the growing share of individuals aged 65+) and the Covid-19 pandemic.
- Investments in biotechnology and healthcare-related technological R&D are increasing and will help to fuel Asian economic growth in the years to come.
- The Covid-19 crisis provided Asia with important lessons regarding health care and preventive medicine. This will play a major role in the future healthcare systems of almost all major Asian nations.
Asia has several of the world’s strongest economies, the majority of global foreign trade reserves, a high proportion of the world’s largest financial institutions, modern and innovative organisations, and some of the world’s biggest and technologically-sophisticated armies.
As the total population moves toward a level of around 10 billion people, Asia’s large proportion of global population will only increase. In combination, the above-mentioned factors are creating the necessary conditions for the region to lead the world in many areas of important economic, financial and technological domains and sectors in the decades to come, the release said.
