As per the latest United Nations report publicized A few of the emerging nations have made robust capacity for adoption as well as to get adapted to frontier latest technologies that can aid them to do a recovery from the COVID-19 Pandemic turmoil.
As per the report sourced from the United Nations Conference on Trade as well as Development, all the frontier technologies that would take an added booster for digitalization as well as connectivity showed by a $350 billion market within the year 2018. And this would be upsurging to in excess of $3.2 trillion within the subsequent five years down the lane and the survey has ranked around 158 nations within the terms of their eagerness to get swift adoption to these technologies.
Although, the top 10 rankings are domineered by US as well as European Union Nations, the emerging economies like India, The Philippines, Ukraine as well as Vietnam are rendered as the outperformers within the terms of adoption of technologies, relative with the view of the overall size of the economies.
The report’s outcome also stated that: “Technological progress is essential for sustainable development but can also perpetuate inequalities or create new ones. The task for governments is thus to maximise the potential benefits, while mitigating harmful outcomes.”
Unctad’s Acting Secretary-General Isabelle Durant stated that: “It is key that developing countries do not miss the wave of frontier technologies, otherwise it will further deepen inequalities.”
As well as although, the few of the emerging nations have witnessed a prowess within adoption of cutting-edge technology, Unctad has cautioned regarding thoughtful consequences for developing nations, if they are either “stunned” or “simply left behindhand.”
The Frontier tech space includes the latest Artificial Intelligence, the IoT (Internet of Things), Big Data, the Blockchain, 5G, 3D Printing, the Robotics, drones, nanotechnology, gene editing, as well as the Solar Panels, among the other technology arena prevailing now.
The report further also stated that: “Technological progress is essential for sustainable development but can also perpetuate inequalities or create new ones. The task for governments is thus to maximise the potential benefits, while mitigating harmful outcomes.”
As well as the top players within the Index are typically having an association alongside global-class innovation as well as huge gross domestic product. The top five nations within the overall index as on the initial months of 2021 are: –
- The US.
- The UK.
Ms Durant further stated: “Societies and industrious sectors are required to be well prepared and shape the essential skills. She also further added that: “Societies and productive sectors need to be well prepared and build the required skills.”
Unctad’s director of technology and logistics, Shamika Sirimanne stated that: “Technologies are not deterministic, we can shape their pathways for good and we have an obligation to do it.”
Ms Sirimanne, also further stated that: “A whole-of-government approach is wanted to absorb these technologies, as opposed to working in silos. Developing countries should also bring into line science, technology as well as the innovation policies with industrial policies.”
She further added that: “Governments and other development actors will need to prepare fast. Developing countries, particularly the least developed ones, can’t afford to miss this new wave of rapid technological change.”
The UN body also stated further that emerging nations are necessitated to toil towards achieving global internet access and guarantee all of their citizens have prospects to learn the skills essential for frontier technologies.
The report also stated that: “New technologies can re-invigorate conventional production segments and swiften up industrialization and economic organizational revolution. Each wave of technological transformation has brought disparity in a new shape in the past.”
The report also further added up stating that: “The outcomes for one generation have affected the opportunities for the next, resulting in inter-generational transmission of inequalities. Between 1820 and 2002, the contribution of between-country inequality to global inequality rose from 28 per cent to 85 per cent.”
At present, the chief apprehensions are associated to the risk of automation taking jobs, deteriorating labour rights, disparities shaped by market and profit absorption and the upsurge of disparity driven by AI and broadening technological gaps. The effect that disparities will have within and between nations will largely be shaped by national policies, Unctad further stated.