Information and communication technologies vital for global economic recovery

By FSG On July 27, 2009 · In Technology

The World Economic Forum today released ICT for Economic Growth: A Dynamic Ecosystem Driving the Global Recovery, an analysis of how information and communication technologies (ICT) can serve as fundamental enablers for the global economic recovery. Demonstrating the importance of ICT as a catalyst for growth, the report highlights the industry’s complex and interdependent relationships, new collaborative business opportunities and the need for stable policy frameworks to ensure sustained investment, innovation and fair competition.

The positive correlation between the adoption of ICT and macroeconomic growth is one of the focal points of the analysis. Whether from the rapidly expanding adoption of mobile telephones – particularly within emerging economies – or the impact of ubiquitous broadband access, the economic dividend from ICT is significant.

“In the search for pathways out of the current economic crisis, one of the recurring themes that has emerged from the World Economic Forum Annual Meeting in Davos and through its regional meetings is the global need for a robust information infrastructure,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “A ubiquitous communications fabric which is adaptive, distributed and interoperable is fundamental for enabling transformational and inclusive economic growth.”

In addition, the complex industry relationships within the ICT ecosystem are presented in the report. Networked and highly connected, the ecosystem continuously changes as its participants grow, adapt, specialize and innovate. “The dynamic and innovative nature of the ICT sector drives its potential to accelerate the global recovery,” said Leonard Waverman, Dean of the Haskayne School of Business at the University of Calgary, Canada. “It’s the cornerstone for the 21st century.”

The report also notes some of the challenges that lie ahead in the evolution of the ICT ecosystem. As business paradigms change, innovative thinking will be required among all stakeholders. Particular issues identified include privacy, security and quality of service. Continued commitments to open standards and interoperability are also viewed as essential for “bottom-up” innovation and the creation of opportunities for entrepreneurs.

Written in close collaboration with leading experts from the Telecommunications Industry Partnership community of the World Economic Forum, this work is the first in a multi-part series highlighting the potential for ICT to serve as a vital platform for addressing the world’s toughest economic, social and environmental challenges. It is available online at http://www.weforum.org/ip/ict.