Discussions usually hit the top on the weekends even though the markets are closed. Both speeches I have given in the Turkish Republic of Northern Cyprus and Ankara in Turkey, as a representative of Altınbaş University helped to realize that business people were not quite curious about the future of exchange and interest rates, but they were rather tuned into the upcoming digital transformation and how we will be able to go through the “high growth- high interest rates-high inflation” period over the next 3 years. I can say in all honesty that this brought me hope.
Last night, I had to chance to have a talk with Tamara McCleary, one of Huawei’s KOL’s like myself. This conversation, however, did not involve anything about finance and economy. As she is among distinguished leaders of global digital transformation, she mostly asked me about where Turkey currently stands with regard to this prevailing trend. On Thursday, she will be in Istanbul to enlighten us about the Artificial Intelligence, Internet of Things and digital transformation. I am really looking forward to it.
Certain notions like parity-stock market-exchange rates-interest rates that we cared too much about during the 20thcentury have in fact become details that we cannot get rid of in the 21st century because of ongoing pressure of the conventional sectors. Creative minds, designers, people who set out on an innovation, R&D, or branding journey are not obsessed with such minute details. If arguments, promises involving exchange and interest rates are still considered important, then there is something wrong going on.
“It’s time to decide now…”
No level of interest rate or exchange rate can stall technological progress. And it is obvious that latest developments in Stock Markets are not causing people, who are working on a new application, to neglect their jobs. Maybe the reason why we consistently talks about exchange rates-interest rates and stock markets that is because we still cannot let go of cliché approaches.
High unemployment may be alarming in a country that is investing to increase the number of creative minds. However, there is no correlation whatsoever between the exchange rate fluctuations and cultivating artists or designers. We can only improve our national level of welfare through digital transformation, not through erecting buildings all over the country. According to experts, countries implementing digital transformation might be able to further increase their projected GDP by 15 to 25 % in 2025.
Now, I am asking one more time. Construction or digital transformation…?