The Brazilian Development Bank (BNDES) is one of the most futuristic organizations today, looking typically to insure themselves against major future disruptions. Unlike, say the banks helping in China’s OBOR project, investing in traditional infrastructure likes roads and bridges, the BNDES prides itself on developing intangible assets for the digital age. While Brazil and a lot of developing countries may have missed the boat during the industrial age, one of the directors of BNDES believes that the country can directly leapfrog into the digital age with cutting-edge new technology like 5G infrastructure. BNDES has already invested more in developmental projects in Brazil, than the World Bank has on the entire globe. Three components make up for future-proofing any country’s development. They are- physical infra, the right talent recruitment of creative people and organizations that are less risk-averse. This will ensure integration between healthcare, smart cities and smart grids through the IoT. Development banks need to focus on provision of growth inducing financial instruments, funds for corporate training programmes to ensure continuous education for professionals, and plan for the upcoming business transformation. The continent of Africa has benefitted from investment on digital products, such as the M-Pesa application in Kenya, so it is time Latin America does likewise.

Source:https://knowledge.insead.edu/blog/insead-blog/leapfrog-into-an-innovative-future-8391

Uploaded Date:27 February 2018