Jokowi Urges Global Leaders to Embrace Intelligent Economy

Former Indonesian President Joko “Jokowi” Widodo has called for a transformative approach to political and financial systems to adapt to the evolving landscape of the “intelligent economy.” During his closing remarks at the Bloomberg New Economy Forum in Singapore on November 21, 2023, Widodo emphasized the importance of robust infrastructure as the foundation for successful integration of technology and data flow in economic development.

Widodo reflected on Indonesia’s achievements over the past decade, pointing to significant infrastructure investments that have bolstered the nation’s economic strategy. He stated, “We built roads, seaports, airports, power plants. Because without strong infrastructure, the economy cannot grow.” This infrastructure development, he noted, has been crucial in establishing a solid groundwork for Indonesia’s transition into a digital economy, with advancements in digital infrastructure, such as data centres and satellite launches, enhancing connectivity nationwide.

Preparing for the Intelligent Economy

As Indonesia steps into the intelligent economy era, which harnesses advanced technologies and artificial intelligence, Widodo stressed the need for digital readiness among the workforce. He asserted that data has become a form of capital, essential for competitiveness and national strength. “Governments have a duty to ensure their populations are digitally literate and ready for the new job opportunities that will emerge,” he stated.

Widodo highlighted the importance of equipping individuals with necessary skills, such as understanding AI, coding, algorithms, and machine learning. “It’s our responsibility to train them… They must have good digital literacy and skills,” he said, adding, “After that, the job opportunities will come.”

Fostering Innovation and Modernizing Systems

Addressing the need for a supportive ecosystem for innovation, Widodo credited Indonesia’s startup successes, including companies like Gojek and Tokopedia, to government policies that encourage entrepreneurship. “When the government builds the right foundations, innovation will follow,” he remarked.

He also emphasized that current global systems are becoming outdated and urged major international institutions, including the International Monetary Fund (IMF), World Bank, and World Trade Organization (WTO), to modernize their frameworks to keep pace with technological advancements. “In this new era, companies and industries will use AI. We must redefine our processes, systems, and strategies to achieve better economic growth and improve lives,” he stated.

Looking beyond Indonesia, Widodo described Southeast Asia as a rising global force, noting an increasing number of young entrepreneurs and the migration of small businesses online. He asserted, “Southeast Asia is no longer just a market; it is becoming a global force.” He predicted that the next billion-dollar startup, or unicorn, may emerge from cities like Jakarta, Singapore, Bangkok, Kuala Lumpur, Manila, or Hanoi, rather than traditional tech hubs.

Widodo concluded by calling for proactive measures to prepare for the anticipated wave of advancements in AI and robotics. He expressed confidence that in the next five to 15 years, there will be significant developments in these fields. “With the right foundations—infrastructure, policies, education, and cooperation—Indonesia and Southeast Asia can thrive in the new age of the intelligent economy,” he said.