Digital transformation is forcing companies to rethink their business models and is changing nature of competitiveness across the economy, the Organization for Economic Cooperation and Development (OECD) report says. However, the expected productivity growth is hampered by the gap between leaders and outsiders. In addition, monopolization processes, which slow down business dynamics, are following after a wave of startups trying to monetize the new technology.
The study's authors attempted to compare macroeconomic trends in OECD countries with the process of digitization of industry and the transition to Industry 4.0. Thus, the observed slowdown in the growth of most economies is expressed, inter alia, in reduction of number of new entrants to the market and redistribution of labor. Apart from that, there is a widening gap between the most and least productive companies and in the growth share of several major players in each industry. At the same time, changes in production and business dynamics are evidenced by the increase in margins by leading companies and the fall in the share of labor in income. An increase in the number of mergers and acquisitions deals, much of which is accounted for by IT start-ups, is also recorded.
Digitalization allows companies to automate a significant part of production, improve product quality at lower costs, as well as build more complex supply chains, maintain closer relationships with customers and adapt their products to market demands in real time. At the same time, in contrast to the service sector, various industries demonstrate greater homogeneity in the level of implementation of digital technologies. Only one industry out of 13 demonstrated low intensity (food, beverage and tobacco production); three industries showed a high speed of digitalization (computer and electronics production, mechanical engineering, transport equipment). The report noted that the level of digitalization of processes can vary significantly even within the same industry. Intensity of investment in equipment and software is about the same in all sectors, with the exception of transport: there is an unprecedented level of automation, use of electronics and the involvement of IT specialists. And in the food sector, which is far behind the rest of the industry in terms of digitalization, a significant part of it falls on online sales.
The process of penetration of digital technologies in the industry is accompanied by a slowdown in productivity. This may partly be explained by the fact that intensity of digitalization and productivity vary greatly: most of them are concentrated in high-performance firms, where technologies are complemented by good management and high digital skills of employees.
The paper's authors believe that a surge in technological innovation leads to emergence of many new participants, but as technological maturity is reached, the market is divided between the most successful players who receive all the gains, and barriers to entry are growing. Such effects can be observed as the introduction of new "end-to-end" technologies like artificial intelligence and machine learning, the OECD believes. This mechanism can explain, on average, higher dynamics of industry than in the service sector as digitalization began there later.


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text:
Shoryu Ramen, Broadgate - FoodNoise - Best London Restaurants
Hit the Right Note @ Shoryu Ramen, Broadgate Circle
Music has always been an important part of my life. I grew up listening to records with my Dad and I'd spend all my hard-earned pocket money in HMV and Virgin Megastore.
During my moodiest teenage years, my favourite pastime (apart from slamming doors, sulking and being angry at my parents for breathing too loudly) was listening to 'Emo' bands like Taking Back Sunday, Fall Out Boy and My Chemical Romance. Although these bands were great at the time – because they 'knew exactly what I was going through' – I didn't plan to listen to them ever again, especially not during dinner.
However, I had a blast from music past during my time in Shoryu, Liverpool Street a few weeks ago. For a restaurant which specialises in traditional Hakata tonkotsu ramen, I wouldn't expect the Fall Out Boy album to be the go-to soundtrack to my dinner, but it was.
Even though the music was a little off key the white natural vegetarian ramen noodles (£12.90) were not. They tasted like a sweet melody, served in a huge bowl, complete with a wooden spoon. The tonyu soy milk, miso, kombu and shiitake broth was pleasingly creamy, salty and light with lashings of fried tofu, seaweed, mushrooms and bamboo shoots swimming in the beige coloured broth.
As a side, there was soft shell crab tempura (£9.90), but it was no heavy baseline; the batter was too thick, disguising the flavour of the delicate crab it encased. It came with an orange vinegary-looking dipping sauce, but this added moisture only, no extra flavour to compete with the pillow of batter.
In contrast, the black sesame tofu (£7), a strange block of jet black jelly-like substance deserved a round of applause and its own merchandise. The cold jelly was like eating a dessert, drizzled with a sticky miso sauce I wanted on everything. I don't imagine it's a dish for everyone, but I'd certainly buy the second album and sign up for the fan club.
The main from the specials menu: the tofu mango noodle salad (£10) was as great as a catchy chorus I just can't stop singing. There was an obscene amount of chilled noodles hiding lashings of tofu, mango, nuts and chilli, covered in a wonderful plum sauce.
The atmosphere in Shoyru is bizarre. There is a sense of chaos, with running waiting staff banging on drums, a busy bar overlooking tables and seating leaking out onto the ever-populated Broadgate Circle. There is warm lighting, light-coloured wood and branches wrapped around pillars with rope.
There was a great fluffy and light yuzu cheesecake (£6.90) for dessert, but the dizzying taste came from the chocolate miso and sesame flavoured ice creams (£4.50). It was so good I wanted to follow it home and get it to sign the menu. The two scoops went incredibly well together, creating an album full of flavour from the salty sesame and the rich chocolate miso.
Just like a great pop song, Shoyru put me in a good mood and I was definitely thinking about some of its dishes for the rest of the week. But if there is anyone out there who knows the cure to get Fall Out Boy out of my head then please, I beg you, come and find me, I'll be the crazy girl humming it in the street.
33 Broadgate Circle, London , EC2M 2QS
shoryuramen.com
@shoryuramen
shoryu_ramen
shoyruramen

redpajama_set_name: RedPajamaCommonCrawl