Thursday, November 23, 2017

Three critical things that won’t happen in technology under Donald Trump’s presidency

Inauguration special: As one million flock to Washington DC to either support or protest against the new commander-in-chief of the world’s largest economy, Data Economy dives into what many in all US tech hubs are thinking about: how far will Trump go?

Donald John Trump, 70, born in New York City and owner of a fortune calculated at $4.5bn, is to ascend to the highest office in the land as the 45th president of the USA in Washington DC in front of more than one million people.

January 20th of 2017 will remain in history as the day when one of the most unexpected and controversial presidential candidates to the United States of America top job has been sworn in as commander-in-chief.

The role is of epic proportions, and most decisions taken by Trump’s administration will have an impact on countries around the world.

The USA is the largest superpower in the world, with a GDP estimated at $18.56tr in 2016, and a workforce of 158.6 million people, including 7.8 million unemployed.

According to the US Department of Labor, the technology sector accounts for 7.1% of the country’s GDP and 11.6% of US private-sector employment.

With over 100,000 software and IT services companies, the US represents more than a quarter of the $3.8tr global IT market.

Trump has said during the campaign trail that innovation has always been one of the great by-products of free market systems.

“The federal government should encourage innovation in the areas of space exploration and investment in research and development across the broad landscape of academia,” Trump has said.

Technology is well embedded in the American DNA and both Trump, technology leaders and consumers are aware of the importance of having a healthy tech environment to grow the economy and protect the country.

In a survey released this month by Burson-Marsteller, 76% of technology elites said the US technology industry’s best days are still to come compared 59% of the general public, and 59% believe the incoming Trump administration will be favourable to the technology industry, compared to 50% of the general public.

According to the “Age of Trump Technology Policy Survey”, which interviewed 1,000 members of the public and 500 technology elites in the US, 73% of technology elites believe the technology industry will contribute to job creation, compared to 63% of the general public.

73% of technology elites said innovation is critical to the US’s position in the global economy and the technology industry is going in the right direction to maintain that, compared to 59% of the general public.

Overall, 52% of technology elites believe the country is going in the right direction compared to 27% of the general public, and 59% said the economy will improve under President Trump compared to 46% of the general public.

Don Baer, CEO of Burson-Marsteller, said: “Interestingly, the findings suggest those in the technology industry are very optimistic about the industry’s direction and prospects for the next four years, even though they are less sure of the impact of the incoming Trump administration on it.”

With all this in mind, Data Economy has dived into three main topics including technology in general, data centres and cloud, and cybersecurity, that will put an end to doubts regarding these segments.

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