Russian expert: digital and real economies can successfully complement each other
The statement that digits are the new ‘oil’ of the economy is not entirely true in modern realities: it is important to develop strategies on how to relate the digital economy and the real economy – as stated by Mikhail Popov, the Deputy Chairman of the RSPP (Russian Union of Industrialists and Entrepreneurs) Committee on Scientific, Educational and Innovation Policy, at the 17th Verona Eurasian Economic Forum in Ras Al Khaimah
During the Industry the Global Economy Needs session, the expert was invited to speculate on the topic of the new industrial revolution. Which is more important: the real sector that supplies real products to the market or the creators of online content who occupy leading positions in terms of market capitalisation?
Mr. Popov stressed that modern Russian business already has experience in successfully weaving digits into the real economy, and all participants in the process benefit from this.
“Take education as an example. Russian companies pay great attention to the field of education, primarily the education of young people in the regions," Mr. Popov addressed the forum participants. “There, especially in remote cities, people begin to engage in creative forms of business and creativity: it makes life better, new niches and jobs appear. New types of theatres are emerging, as well as interesting architectural projects and original troupes that work at the intersection of digital and real art. This does not contradict technological development, but allows us to move from the 4.0 economy to the 5.0 economy, which is focused on people and increasing human potential. Our experience in creating educational centres for creative industries, which are located in regional cities, can be useful to many.”
In addition, digitalisation opens up new opportunities for work in key production areas. The expert explained, “If we talk about industry and the environment, digital technologies allow us to design new multifunctional, long-used and safe materials and alloys. The market is in need of them. If we look at the oil sector, then it is no secret that light oil in the Middle East is running out, and difficulties related to drilling in difficult conditions and environments begin. Accordingly, a need for digital twins (virtual models) for mines and for mining equipment emerges, so the integration of digital and real economies looks promising in this regard,” Mr. Popov stressed, adding that such opportunities are available in Russia.
On December 5th-6th, Ras Al Khaimah hosted the 17th Verona Eurasian Economic Forum, gathering prominent representatives of government and business circles, political and public figures from Europe and Asia, including Russia, the United Arab Emirates, Italy and other countries.
The agenda of the large-scale international meeting included sessions covering a wide range of global issues, such as the development of energy, infrastructure, transport, finance, digitalisation, and medicine. The development of business dialogue and effective ways of co-operation between countries and organisations in the territory of Greater Eurasia were also in focus.
