SAES XII scrutinises South Asia’s future in the Fourth Industrial Revolution

As the fastest growing region in the world, South Asia is presented with both opportunities and pitfalls in the technology-led, Fourth Industrial Revolution (4IR). While the region remains vulnerable to rising inequities, technological innovations driving the 4IR do hold the potential to accelerate progress in meeting the Sustainable Development Goals (SDGs), particularly in areas such as education, health and food security. 

As such, the disruption of technology through 4IR presents a watershed moment for the region. 4IR is not only driving the Fourth Wave of Globalisation, but it is also introducing new tools to assess and understand competitiveness.

In this context, the 12th South Asia Economic Summit (4IR) aims to uncover the prospects and challenges for the region in harnessing the 4IR and discover potential avenues for cooperation through a multi-stakeholder dialogue. Organised by the Institute of Policy Studies of Sri Lanka (IPS), the Summit is held in Colombo on 26-27 September, and will be inaugurated by Minister of Finance Mangala Samaraweera. 

For South Asia, as in many other developing country regions, the benefits and pitfalls of 4IR are significant. On the one hand, the 4IR may allow countries to leapfrog development stages. Those with better established manufacturing bases or with resources to invest in technologies stand to benefit. At the same time, technological-driven productivity that drives down costs of production in advanced economies can hasten ‘premature’ de-industrialisation in others. For many, the threat of human labour displacement by automation is very real.

South Asia’s challenge, therefore, is not merely limited to technological adoption, but rather a broader challenge to reform its laws, institutions, and economic structures that can adequately respond to a world that does not recognise national borders. 

The plenaries and the parallel sessions at SAES XII will explore a broad set of issues facing South Asia, ranging from growth and equity, macroeconomic stability, trade, the future world of work and the challenge of shifting demographic patterns, agriculture, innovation, and security concerns in the 4IR. 

SAES XII brings together policymakers, experts, development practitioners, and development partners from South Asia and outside. Bringing together the regions’ leading minds to discuss some of the central development issues and themes impacting South Asia, its people and the planet, the Summit is instrumental in influencing the policy agenda of South Asian governments.