Importance of ICT for Digital Economy During a webinar hosted in Huawei’s Win Win Live extended reality studio, Simon Baptist, Global Chief Economist of EIU set the scene regarding the status of the digital economy, but argued that in fact it was a “bit of a misnomer” in some ways – the digital economy was no longer a separate phenomenon from the actual economy. Baptist explained digital really underlines every activity happening today, and any company not pursuing a digital play would eventually have to. Going further, Baptist believes digital has moved beyond simple transformation for companies, and is increasingly leading the agenda for governments. “In the era of the last 50 years, a lot of growth was driven by urbanization and by moving up the manufacturing value chain. Growth in the next 50 years is going to come from productivity growth that comes from the digital sector.” Pau Castells, Head of Economic Analysis at GSMA Intelligence, concurred on the importance of living in digitised societies, particularly at a time when there is an economic crisis, stagnant growth, spiralling inflation, all of which is on the back of a global pandemic. He explained GSMA Intelligence has looked into the […]
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