<\/p>\n
Maximus Ametorgoh, the CEO of Popout, spoke bout the \u2018The Key Elements of the Digital Economy.\u2019<\/p>\n
His presentation on the Citi Business Festival on-air series on Friday, June 3, 2022, highlighted some things to consider to be able to thrive in the digital economy.<\/p>\n
Mr. Ametorgoh stressed that tech doesn\u2019t need our permission to progress, so businesses have to work to stay ahead of it.<\/p>\n
\u201cSo long as innovation is happening, your job is on the line. People become jobless. That is going to happen. That is obvious. Technology is advancing, so we are not going to use brick and mortar again.\u201d<\/p>\n
Linked to the above point, Mr. Ametorgoh said employees need to build on their business skills to stay relevant.<\/p>\n
People with strong digital skills tend to be valued more in businesses, he noted. For example, an accountant will need to be conversant with trends in accounting and payroll software, etc.<\/p>\n
\u201cIf the company is going to sack people, they will look at digital skills first, before traditional skills,\u201d Mr. Ametorgoh said.<\/p>\n
Mr. Ametorgoh highlighted the importance of graduating from traditional thinking into thinking for the digital space.<\/p>\n
To do this, businesses will need to complement skills that have been learned a decade ago with skills that can leverage the digital space.<\/p>\n
\u201cWith your traditional skills, you can use technology to give it more economic value,\u201d he said.<\/p>\n
Mr. Ametorgoh is certain, \u201cthe future of work requires digital skills.\u201d<\/p>\n
This is generally a net positive for young businesses, especially, he noted, which can leverage digital tools, like social media, to bolster their work.<\/p>\n
\u201cIf you are waiting for capital to start your business, Facebook is there,\u201d he noted.<\/p>\n
Citing people who are able to expand their reach, as an example, he said small businesses can now scale quickly at a very low cost because of the opportunities the digital space provides.<\/p>\n
Moderation is key when faced with a constant stream of feedback because of the communication lines provided by digital tools.<\/p>\n
\u201cBusinesses must have a real-time eye on their business and monitor customer engagement,\u201d Mr. Amertogoh said.<\/p>\n
It is important to take action on all kinds of feedback, whether it is a customer suggestion or a malicious remark from a bot.<\/p>\n
Listen to his full presentation here:<\/p>\n