Emerging technologies such as artificial intelligence (AI), fifth-generation mobile communications (5G), and cloud computing are reshaping various industries and impacting the way individuals and businesses operate. This transformation corresponds with the ongoing fourth industrial revolution, which focuses on the integration of advanced digital technologies into traditional manufacturing and business practices. The aim is to harness data, enhance interconnectivity, and improve analytics and automation, all towards achieving greater efficiency and profitability.
According to a recent report, worldwide investment in information and communication technology (ICT) soared to approximately US$4.9 trillion last year. This surge in funding aligns with findings in the Global Digitalization Index 2024, produced by Huawei Technologies alongside the International Data Corporation. This comprehensive analysis also incorporates insights from the World Economic Forum, which forecasts that digital technology and AI are expected to be pivotal in driving 70 per cent of global economic growth over the next five years.
In response to these developments, leaders and policymakers around the world are increasingly focused on establishing effective metrics to assess the returns on investments in digital infrastructure. They are tasked with evaluating the health of their ICT ecosystems and devising strategies aimed at broadening their digital scope.
The report's scope includes an assessment of digital development across 77 countries, which collectively account for 93 per cent of the global gross domestic product (GDP) and 80 per cent of the world’s population. By quantifying the advancements in digitalisation, the report intends to offer insights into how digitalisation can contribute to broader economic prosperity.
As businesses across various sectors continue to leverage AI automation alongside other emerging technologies, the implications are significant, suggesting a preparation for a future where these digital advancements will play an increasingly central role in operational strategies and economic growth.
Source: Noah Wire Services