5G Network, Big Data, and AI keys to survive the economic crisis

South Korea will make AI, Big data, and 5G network the centerpieces of what it claims to be a SOLUTION to create jobs and increase growth after the disappearance of the new coronavirus pandemic.

The government of South Korea has a big plan to work on a large-scale project to promote a digital economy, seeking synergy with private sector investment and improving industrial productivity and overall competitiveness.

They will actually work on 10 objectives to accelerate the transformation of a digital economy, which includes the construction of Big Data systems, 5G Network, AI to remote businesses, and improve security on the long term.

The project comes as the South Korean trade-dependent economy prepares to fall even further due to the Coronavirus pandemic.

Even though the country has so far managed to contain its own outbreak, March was its worst month for job losses since the global financial crisis, with part-time workers and young people being the hardest hit.

The fourth-largest economy in Asia lost 476,000 jobs in April, the worst monthly decline since 1999 when the country emerged from the Asian financial crisis, according to official data.

Some temporary workers have also lost their jobs, even though South Korea has maintained most of its open economy.

As part of its plan to survive the economic crises, South Korea plans to create funds to support the development of AI, build sites for testing robots, and help companies launch new services that use Big data.

They will also support the construction of a national 5G network. The main goal here is to improve South Korea’s economic growth potential and create sustainable jobs for the future generations.

 


DATE: May 19, 2020
AUTHOR: StepsTeam
Artificial Intelligence, Data

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