This past week, the Federal Reserve Chairman Jerome Powell spoke at a European Central Bank Forum where he stated and I quote, “We’re not going back to the same economy,” “We’re recovering, but to a different economy and it will be one that is more leveraged to technology, and I worry that it’s going to make it even more difficult than it was for many workers.”
If you want to see the full video, we posted it on the Katika blog. Now, what Chairman Powell stated was that our hyper adaptation to technology during COVID is creating habits and processes that are going to be irreversible. Which means that our dependence on technology to do business is here to stay permanently.
And as black people, if we don’t want to be in a constant state of dependence to Silicon Valley and corporate America, it’s time to build black technology parks in every major city. Not everyone is going to learn how to code but everyone can learn basic technology skills such as learning how to type, learning how to use a computer or mobile device, and becoming familiar with programs like Excel.
The top 10 jobs of employment for black people are all service based jobs like security guards, at home nurses, and retail cashiers, etc..
So we’re going to have to re-train people to work in traditional fields that are now incorporating more technology.
These fields include:
Agtech – which is short for agriculture technology. This industry has the most potential for growth and employment because the demand of food is increasing as well as the need to grow it in urban settings.
Next is Edtech – short for Education Technology – which will be critical to not only re-educate our community but to ensure that those affected during their school matriculation don’t fall behind.
Fintech – short for Financial Technology – is where all facets of banking are going, loans, mortgages, credit spending, peer to peer lending will all reside on our phones in the future. And we can and must break into that industry.
And lastly, Delivery/Couriers – its going to be very important to establish a network of our own delivery service companies. Whether we transport freight items, meals from business to consumer, or products from business to business, we will need to enter the transportation and logistics industry.
Marketplaces, Entertainment and Social platforms “are, can and will” be created to fill those voids but in order to create a sustainable black technology ecosystem, it must be rooted in sustainable growth industries that can employ in masses like agTech, edTech and finTech.