Abstract:
Utilication I C T and Knowledge in economic applications arc becoming The most important assets by outperforming traditional capital intensive, technology intensive labor intensive comparative advantages of any country, (he power of this transformation on he recognized in terms of its impact on knowledge sharing, dissemination an, ,'utilization in socio economic behaviors of any country, when the knowledge and knowledge outcomes are having major impact on all the human activities, then that economy can be identified as a Knowledge Society. This study was conducted to evaluate •the nature, status and competence of Sri Lanka as a developing country to face /his rising11,tve of Knowledge Society and potential to regain the economic development that has been there as better economy in South-blast Asia. Study used a benchmarked indicator frame work by developing both quantitative and qualitative indicators to evaluate the pre-requisites to he a know ledge society and outcomes of a knowledge soaefv . h cording so literalure review and comprehensive analysis more than thirty (3th indicators study foundthat In South-east .Asian region Rep. of Korea is the best knowledge society while Singapore. Malaysia, and also India arc showing great potential of he competitive global knowledge societies. Rather than having emerging enthusiasm on mobile technology and modem (7 M /. I technology. Sri Lanka still does not show any specific urgency. adaptation or greater enthusiasm to be a knowledge society in terms of knowledge Cration. dissemination and utilization of knowledge in economic aetmties. There are no identifiable solid interrelations between each pre- requisitc and also between the outcomes m Sri Lanka. they were Irving to develop as isolated sections. That was the reason why that, social (actors such as health and general education are at satisfactory U vcl in Sri Lanka hat economic performances far away from emerging Asia. By implementing recommended strategies of the study Sri Lanka is expected to make economic interlinks between every section of the country that would be compulsory to be a competitive global knowledge society.
