Digital future can be thrived through the empowerment of youth. They
will redefine our societies and enable growth and build new capacity to
accelerate the economy, Managing Director of AKS iQ tells the TFD
Muhammad Umar Waqqas
KARACHI: The 21st century saw rapid technological advancement to the extent that it influences all fields today. As stated by Bill Gates the co-founder of Microsoft, “We are changing the world with technology,” innovative technologies possess coherence and novelty, bearing the potential to substantially influence the socio-economic domains of modern states. Some popular technologies include the Internet of Things (IoT), Cyberspace, Information and Communication Technologies (ICTs), Artificial Intelligence, Quantum Computing, Blockchain, Autonomous Weapon Systems, and Robotics. The first-world countries are ahead in this technological race, while the south Asian nations are striving to acquire sophisticated technologies ultimately impacting their strategic landscape. AI and emerging technologies offer tremendous opportunities for well-being, productivity, growth and solving pressing societal challenges. However, they also pose risks to human rights, fairness and human agency, among others. Many countries recognise the need to develop forward-looking policies and adapt governance frameworks to keep pace with these developments, to leverage technological benefits while mitigating risks and to boost their country’s economy.
While talking with The Financial Daily, MD of AKS iQ Shahzad Arif says “In today’s rapidly evolving global landscape, technology is the cornerstone of economic growth and innovation. Despite its immense potential, Pakistan’s technology sector struggles to keep pace with regional competitors. However, with a youthful population and growing global opportunities in artificial intelligence (AI) and high-tech industries, Pakistan stands at a pivotal moment. Pakistan’s youthful population, with over 60% under the age of 30, represents a unique asset. Equipping this demographic with future-ready skills is highly imperative. Globally, the AI market is projected to reach $1.5 trillion by 2030, and opportunities in quantum computing, semiconductor manufacturing, and high-tech innovation are incredibly vast. Countries like India, Vietnam, and smaller nations demonstrate how strategic investments can drive exponential growth. India’s IT sector contributes over $200 billion annually, fueled by talent and supportive policies. Vietnam has emerged as a hub for electronics manufacturing, illustrating how emerging economies can thrive in global high-tech industries.”
Shahzad Arif highlights some significant key-areas which may unlock this high-tech potential:
” Education and Skills Development: Reform the education system to emphasize critical thinking, coding, and innovation. Introduce STEM-focused curricula and establish AI and quantum computing centers.
” Investment in Research and Development (R&D): Increase R&D spending beyond the current 0.24% of GDP. For example, countries like South Korea invest over 4% of GDP in R&D, yielding transformative economic results.
” Entrepreneurial Ecosystem: Expand access to venture capital and simplify regulations to encourage innovation.
” Attracting Foreign Direct Investment (FDI): Streamline processes and ensure political stability to draw global investors into high-tech sectors like semiconductors and AI.
” Shahzad Arif stresses on following immediate actions to be taken which could grant us a respectable place in the present digital era.
” Development of National AI Policy: Introduce a robust policy framework with offering of incentives and focusing on priority sectors such as agriculture, healthcare, and governance. For instance, deploying AI in agriculture could revolutionize yield prediction and water management.
” Promoting Startup Growth: Create technology parks modeled after China’s Shenzhen. Simplify regulations to encourage entrepreneurship, and provide funding through public-private partnerships.
” Building of Semiconductor Manufacturing Capacity: Sign the Partnership deals with global leaders like Taiwan or South Korea to establish chip design and manufacturing expertise. Collaborative ventures can bridge the skills and technology gap.
” Enhancement of Global Partnerships: Facilitate ‘knowledge transfer’ by aligning with international standards. For example, Pakistan could be a partner with tech giants like Google and Microsoft for development of local talent and infrastructure.
” AI in Governance: Leverage AI for e-governance to improve transparency and efficiency. Digitized government services can enhance citizen trust and streamline operations.
” Digitization of Local Industries: Support local tech companies by awarding them government contracts and assisting them to enter in international markets. This approach can elevate remittances, boost exports, and foster self-reliance.
Shahzad Arif indicated following barriers which should be eradicated to counter the challenges:
” Resistance in Reforms: Advocacy campaigns and incentives can build support for transformative policies.
” Funding Constraints: A phased and prioritized investment approach can ensure consistent progress.
” Infrastructure Deficiencies: Parallel investments in energy and digital infrastructure are crucial to sustain technological advancements.
” Global Competition: Collaboration with international organizations can bridge expertise gaps and help Pakistan to compete globally.
Shahzad Arif emphasised for a prominent Leadership role to meet all above mentioned actions and challenges. He says “Pakistan’s leadership vision is the linchpin of this transformation, essential for crafting forward-looking strategies, ensuring policy continuity, and reducing procedural hurdles. Leaders should foster collaboration among the government, private sector, and academia to mentor startups and cultivate innovation. An effective example of private-sector innovation is the growing emergence of local AI companies that are developing solutions meeting international quality and security standards while addressing the needs of local industries.
For instance, companies like AKSiQ are demonstrating how innovation rooted in Pakistan can scale globally, contributing to economic growth and technological progress. Such initiatives highlight the importance of leadership in creating an enabling environment for the tech ecosystem to thrive. Countries like Singapore and Estonia have demonstrated how leadership-driven digital transformation can elevate a nation’s global standing. Pakistan must follow a similar trajectory by supporting innovative enterprises and fostering collaboration across all sectors to accelerate its technological future.”
Pakistan’s youth are its greatest asset. By strategically investing in AI, quantum computing, and high-tech manufacturing, our nation can have a transition from a technology consumer to a global technology leader.
“I urge the government to prioritize a national AI policy, academia to drive research innovation, and let the private sector lead technological investments. Together, we can transform Pakistan’s economy and secure its place in the global technology landscape. The world is moving fast – Pakistan should act decisively to seize this opportunity. The time for transformation is Now,” Managing Director AKS iQ Shahzad Arif tells The Financial Daily.