A Guide To The Knowledge Economy

What is the knowledge economy?

A term that was invented in the 1960s but has undoubtedly been a system since the dawn of time, the knowledge economy can be defined as the way the people are using their own brainpower to conduct actions. Traditionally people think of the economy in terms of money. But the knowledge economy comprises of using the knowledge that you acquire to produce services and goods. This is a far more useful medium and the world simply couldn’t exist without it in the present and future.

The knowledge economy is undeniably growing throughout the world, even in underdeveloped nations. People are stepping away from the production of goods and are investing more in intangible goods and services. Examples of how the knowledge economy is being utilised are through mobile apps and mobile payments, advances in artificial intelligence and developments in robotics.

Through content creation, the knowledge economy is also constantly evolving. Without enticing content and sharing knowledge, a business simply won’t be successful. By innovating an idea and transforming it into content that your business can develop, you can promote and monetize your concept/idea.

Opportunities that digital technologies provide

The growth of the knowledge economy is undeniably beneficial for those within all industries (but in particular technology industries) as it will not only open up an array of jobs but also will allow for global reach and will speed up processes within the workplace. For those working within agriculture in underdeveloped countries, they can utilise the digital technologies to determine when to plant crops (by using weather apps) and improve their knowledge on how to do so. This will overall help to improve their climate resilience and their productivity levels.

The knowledge-intensive production of mobile apps or software can also be used to help within the health sector. Many people use search engines to improve their practices and the way that their work environment operates. It is essential within this sector to have an in-depth knowledge of the practices, and through online research that has been conducted, you can do this with ease.

Mobile apps and the knowledge economy

Firstly, what is m-learning? M-learning (also referred to as mobile learning) is a modern way of learning and teaching. Many teachers around the world are utilising m-learning in their teaching, through using mobile phones and tablets to supply their students with material. This can be either a video tutorial, an audio clip or simply supplying them with texts to read. It is becoming an invaluable 21st Century educational resource for students internationally, with the uprise in digital technologies and the fact that so many children are adapting to the innovation that is occurring. As more children are getting used to using tablets and mobile phones and in their day to day life, by using them in their education, it adds a more relaxed and fun element to learning.

You might wonder what the difference is between m-learning and e-learning. To put it simply, m-learning is done solely on mobiles and tablets as mentioned above. They are generally short snippets of information containing shorter modules, delivered alongside full lessons. E-learning, on the other hand, is done through computers or laptops and feature more in-depth information.

The benefits of mobile learning in the modern age

Mobile learning carries many benefits that you can reap within education. Firstly, the fact that you can view your lessons/subject material allows you to learn wherever you are in the world, usually at a time that suits you. An example of this is if you are at university and you are feeling ill and can’t attend a lecture, by the teacher putting it on your portal for you to access, you can catch up with what you had missed. This freedom to learn also applies to those completing a university degree solely online. This gives greater flexibility to study at times that are convenient to you (as long as you complete any tests/assignments when they are due of course) and means that it doesn’t necessarily matter where you are in the world.

Mobile learning also has the benefit of motivating people to learn. For children, seeing a quiz or completing an assignment on their tablets is far more exciting than the traditional way of learning. However, this asynchronous method could lead to students being less communicative with others and can cause them to become distracted – for example, instead of completing their assignments on their tablets, they could spend their time researching things on the internet, watching other films etc.

However, this is not always the case. If you are a teacher and you want to capture their attention, create engaging content that they will enjoy completing. By offering an array of different types of content, it will interest them more. For example, if after teaching them through a piece of text, you could ask them to complete a quiz on what they have learnt so far or a fun learning game. It can also create an online community, where you can exchange ideas and learn from what others have accomplished.

Interesting statistics about mobile learning

Some of the most surprising statistics that come with mobile learning are the following:

In research conducted by Michaels & Associates, they found out that “99% of people believed the format and presentation enhanced their learning”. Through research, they also discovered that “users studying on mobile devices are 3 times more likely to track their progress”. These statistics are fascinating in terms of seeing just how beneficial mobile learning is in education.

Similarly, research found in the Ambient Insight Premium Report: The 2012-2017 Worldwide Mobile Learning Market, showcased that the worth of the mobile learning industry is set to grow extensively as technology develops. Allowing people to “build skills and expand their knowledge from anywhere in the world” as mentioned above, the flexibility that comes with this medium means that it will continue to entice people in and convert from the traditional ways of learning.

Mobile apps can be utilised heavily for m-learning, packing all of the knowledge up into a medium that’s accessible by everyone, no matter what your age. If you are a teacher or someone that’s looking to put your knowledge into a mobile app, the team at the appmatch can help! Simply enquire today.

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