Sri Lanka: From Frontier to Emerging
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The keynote speech delivered at the 2nd International Conference on Business Research organized by the Business Research Unit of the Faculty of Business of University of Moratuwa Sri Lanka.
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Sri Lanka: From Frontier to Emerging
- 1. Sri Lanka: From Frontier to Emerging The role of Analytics, Technology and Entrepreneurship Hiranya Samarasekera Vice President of Engineering, Sysco LABS @hiranyas
- 2. Are we really an emerging economy?
- 4. Foreign Direct Investment Inflows
- 5. Emerging emerging economy Frontier Market
- 6. • Human Resource Pool is limited • Sri Lanka: 9 Million • Bangladesh labor force: 60 Million • ITES labor force: • Sri Lanka: 80,000 • India: 3.1 Million
- 7. Global Innovation Index 2018 – Rank 88 • Business Sophistication – 81 • Human capital & research – 111 • Knowledge & technology outputs – 81 • For comparison: • Vietnam: 45 • Turkey: 50 https://www.globalinnovationindex.org/gii-2018-report
- 8. Moving up the value chain
- 9. Competition is a global phenomenon • The market opportunity is also global • Supply chains are deeply integrated
- 12. • KDDI Cable Infinity by CDL (113m) • Largest vessel built by Sri Lanka • First Diesel-Electric ship
- 13. The emergence of Cloud Computing • Access to enormous computational power and storage • Commoditized (as a utility) • Lower barriers to entry • Access to latest technology advancements (even to startups)
- 14. Analytics as a competitive advantage • Data is the new gold • Insight derived from Data gives its true value or its currency
- 16. Data Analytics for Governance Geographical distribution of origins to Colombo Fort, based on 2013 call data. D. Maldeniya, A. Kumarage, S. Lokanathan, G. Kriendler, K. Madhawa, ”Where did you come from? Where did you go? Robust policy relevant evidence from mobile network big data”, CPRSouth, 2015. https://lirneasia.net/2018/12/data-driven- governance-in-sri-lanka/ - Presented by Prof. Rohan Samarajiva at United Nations Asian and Pacific Training Centre for Information and Communication Technology for Development. December, 2018. Where data analytics can help is with insights that are otherwise expensive to capture; Mobile network data can be used to estimate origins destinations and to generate trips between them. This is something that would otherwise require enormously detailed surveys.
- 17. • Peer-to-peer lending (Kiva.org, Helios P2P) • Cryptocurrencies (Bitcoin, Libra) • Crowdfunding Platforms – Kickstarter, GoFundMe • Robo-advisors and stock trading applications • Personal finance apps • Finance for un-banked FinTech
- 19. IoT + BPM = BPM Everywhere • IoT will enable end-to-end digitization of processes • Paves way for Process Mining and Process Analytics • Real-time insight about the processes
- 21. In need of an Analytics driven renaissance! In private sector In government
Editor's Notes
- In the next few mins, I'd like to share some ideas of the role that analytics, technology and entre could have in our endeavor towards growth
- MSCI – Morgan Stanley Capital International – provides stock market indexes
- MSCI Emerging = show some characteristics of developed, but doesn't measure up to standards of developed Frontier = Smaller economies, riskier and with illiquid capital markets
- Though Sri Lanka is rich with diverse natural resources. It may not be in much abundance to give us an unparalleled competitive advantage over global competition.
- Out of 126 countries
- - Competition is a global phenomenon (for resources and capital) - We are living in an era, where traditional business norms and beliefs are being challenged by digital native companies
- - Navigation, radar, propulsion, communication, steel
- The IT space has seen a significant growth thanks the Cloud Computing Gone are the days... Cloud is responsible for the renewed interest and demand in data analytics The cloud is nothing but an internet connected server in a data center Resulted making computing and storage available as a utility (like electricity)
- Analytics as a competitive advantage Data is the new gold. Insight derived from Data gives its true value or currency. Analytics provides us the necessary insight for us to make data driven decisions. Eliminating the guesswork out of business management. Digital native companies have grown leaps and bounds with data. Traditional companies are carrying legacy baggage on their shoulders. Big Data
- - Much hyped about in media and press - in 2005-2015, all the rage was about Data Science - ML is the new hype - Without reducing this as just 'hype', it's important to understand what value these can bring to your organization or the country as a whole in its quest to growth
- This map plots the origins of people commuting to Fort
- Fintech is where Finance meets Technology Analytics and technology in finance has resulted in several new innovations in the finance field This is challenging the status quo of centuries old banking and finance institutes
- - Economics meets Technology Backed by a reserve This could pave the way for other technology giants to follow suit Could make cross border transactions costs lower Cross border transaction fees are high as 7% Foreign remmitances
- - We are in the cusp of an analytics or data driven growth trajectory So many growth opportunities lie ahead of us in both private sector businesses and in government institutions We are seeing the need for a new breed of employees, who are equipped with quantitative and analytical skills to cater to the demands We need to create platforms like these for active intellectual discourse and pave the way for new knowledge and discovery
- You might wonder, this sounds like so Utopian, and very forward looking.
- This is where Entrepreneurship comes in. We need a new breed of entrepreneurs who push us through the traditional boundaries We need a renaissance in our startup ecosystem Also, intrapreneurship where enterprising employees could challenge the status quo of traditional organizations The Faculty of Business and this conference is a very good example of an intrapreneurial endeavor. Which has challenged the traditional norms of this very university. With that note, I’d like to conclude my presentation with the following quote. Thanks you.