Monday
September 14
2020

Here Are 4 Technology Trends From Emerging Economies

Since the start of the COVID-19 pandemic, our lives have shifted further into the digital realm. For many of us, it is hard to imagine what life would have been like this year without the ability to learn, work and socialize online. But as life-saving as new technologies have been during the pandemic, they also pose a risk. Unequal access to them may worsen the gap between rich and poor. Concerns over safety and privacy have grown in parallel with the widespread adoption of digital tools.

In emerging economies, the promise of these technologies shines particularly bright. They offer the hope of skipping entire stages of conventional development, spreading knowledge and prosperity faster than ever before. Emerging economies are also experimenting with new technologies and finding alternative ways of regulating them, offering inspiring perspectives that influence the rest of the world. Here are four major digital trends happening in emerging economies that could shape lives all over the world for generations to come:

Boosting digital infrastructure

Internet usage has soared during the global pandemic. In the months since the start of the outbreak, internet usage has increased by 70%, use of communication apps has risen by 300%, and video streaming services have grown almost 20-fold. However, not everyone has been able to switch to the digital world when physical spaces were shut down. After all, only 53% of the global population has internet access.

Photo courtesy of lau rey

Source: World Economic Forum (link opens in a new window)

Categories
Coronavirus, Finance, Technology
Tags
coronavirus, digital banking, emerging economies, healthcare technology, innovation, regulations