Development in the Digital Age
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UAE University Lecture Dubai, United Arab Emirates February 2018
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Development in the Digital Age
- 1. Development in the Digital Age Mahmoud Mohieldin Senior Vice President World Bank Group UAEU February 2018 @wbg2030 worldbank.org/sdgs0
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- 6. 5 The 4th industrial Revolution .
- 7. Source: Adapted from World Economic Forum, 2017 Technology Reaches People Faster 0 10 20 30 40 50 60 70 80 Telephone (1878) Mobile (1979) Internet (1990) Facebook (2004) Whatsapp (2009) Instagram (2010) 1878 1979 1990 2004 2009 2010 Number of years to reach 100 million users 6
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- 9. 8 Disruptive Technology – opportunities and threats for humanity
- 10. 9 Data is the new oil
- 11. 8 Capitalism without Capital Haskel, Jonathan, and Stian Westlake. “The Rise of the Intangible Economy.” Capitalism without Capital: the Rise of the Intangible Economy, Princeton University Press, 2018. Capitalism without Capital
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- 13. 12 Digital solutions are transforming the delivery of products and services
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- 18. Financial Inclusion Solutions Source: Suri, T. “The Long-Run Poverty and Gender Impacts of Mobile Money” Science 2016; McKinsey; Central Bank of Kenya; World Bank 16
- 19. Digitization is Disrupting Every Part of Financial Services Source: World Bank Group, 2017 18
- 20. Exponential changes in IT are disrupting industries and creating new opportunities Why Blockchain ? Drones Artificial Intelligence Blockchain & Distributed Ledger Technologies Big Data & Analytic s Internet of Things Platform Revolution Applications : • Finance (e.g. remittances; P2P Payments) • Record Keeping • Identity Management • Smart Contracts • Sharing Economy (P2P market) • Crowdfunding • Governance • Supply Chain Auditing • Protection of Intellectual Property • Land Titling Registration Cloud Computing Robotics Quantum Computing Transparent Decentralized Immutable Cost Effective Robust 19
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- 22. 21 But digital disruption will impact countries differently and could exacerbate global inequality
- 23. Source: Cirera; Maloney, The Innovation Paradox, 2017 The Capability to Innovate in 1900 Drives Income Levels Today The Capabilities Escalator Leapfrogging Disruptive Innovation Source: Dassault Systemes, 2017 Source: CodigoDelSur, 2017 Harnessing the Digital Dividend 22
- 24. 23 As automation substitutes for labor across the entire economy, the net displacement of workers by machines might exacerbate the gap between returns to capital and returns to labor
- 25. 24 McKinsey estimates that roughly half of all jobs are at risk of being automated - and that’s just with the technologies we have today.
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- 27. 26 Fast rising aspirations and technology is changing the nature of work. Countries will not be able to compete unless they invest much more, and more effectively, in people.
- 28. 27 The Human Capital Project "This year, for the first time, we are including human capital in our measurement of the wealth of nations. Human capital is about 65% of the wealth in high-income countries and only 40% in low income countries. We’re helping low income countries overcome this – and there is a sense of urgency – not only because we’re facing several current human capital crises, but also because accelerations in technology will require countries to urgently invest in their people if they hope to compete in the economy of the future. “ Jim Kim President, World Bank Group
- 29. The 2030 Agenda and the Sustainable Development Goals: An Opportunity for Transformation 28
- 30. An Opportunity for Transformation: From MDGs to SDGs The global development agendas serve as a compass and guide for countries to determine their national development path MDGs (2000-2015) SDGs (2016-2030) Goals 8 17 Targets 21 169 Indicators 60 ~231 Priority Areas Human Development Holistic: Economic, Social, Environmental Scope Developing Countries Universal 29
- 31. 30 Harnessing Science, Technology and Innovation to achieve the Sustainable Development Goals
- 32. 31 There are two main means of implementation to achieve the SDGS Mobilizing the necessary financial resources aka Financing for Development - public, private, international and domestic Science, Technology and Innovation (STI)
- 33. 32 Perspectives from 100s of Scientists on STI impact on the implementation of the SDGs
- 34. 33 Tech is cross-cutting across SDGs
- 35. 34 Direct impact of growing mobile industry to SDGs 34
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- 37. 36 Globally, 2.5 quintillion bytes of data are created every day. With the expansion of digital technologies like the Internet of Things, mobile and cloud, big data creation will only grow. There are significant development opportunities if leveraged properly to its full potential. 36
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- 40. “ The Best Way to Predict the Future is to Create it” Alan Kay, Computer Scientist 39 Today is the slowest day of innovation we will experience for the rest of our lifetimes.” Rob Nail, Singularity
- 41. Mahmoud Mohieldin Senior VP Thank You worldbankgroup.org/sdgs Follow us on twitter @WBG2030 Mahmoud-Mohieldin on
Editor's Notes
- Uber, the world’s largest taxi company Owns no vehicles Facebook, the world’s most popular media owner Creates no content Ali Baba, the world’s most valuable retailer Has no inventory Air bnb, the world’s largest accommodation provider Owns no property
- The Concept of Innovation: One important problem in the study of innovation is the lack of clarity and consensus on what “innovation” means. Innovation means different things to different people. In this report, we adopt a broad, Schumpeterian view of innovation, which is more useful to understand the growth process of countries. Innovation can be defined as the ability to use knowledge to develop and apply new ideas that result in changes in the production and organizational structure of the firm. Schumpeter (1934) defined several of these applications that qualify as innovation: ■ Introduction of a new product or modifications to an existing product ■ A new process or technology in an industry ■ The discovery of a new market ■ Development of new sources of supply of inputs and raw materials ■ Changes in industrial organization Innovation is, therefore, broader than invention. It includes commercial applications of new technology, new material, or new methods and processes. It primarily involves the process of adoption of existing technologies, the process of copying or imitating attributes from other products, or the adoption of new managerial and organizational practices or business models from other companies. Innovation also includes the invention of new technologies and disruptive business models. Although important, these are a small part of the innovation process, especially in those countries farther away from the technological frontier. The popular view of innovation that understands innovation primarily as invention, patenting, or the generation of disruptive technologies misses the larger part of the innovation process—the more incremental implementation of ideas and knowledge to improve the firm—which, as discussed extensively in the report, lies at the heart of the “growth miracle” in East Asia. An implication of this broader view of innovation is the fact that firms accumulate knowledge to apply these new ideas in different ways. These include not only R&D activities but also other knowledge accumulation activities, often informal or through collaboration with other firms, through learning from clients, or by participating in global value chains or international markets. Although chapter 2 defines in more detail firm-level innovation, the reader should keep in mind this broader definition of innovation throughout the report.
- The World Development Report 2018 (WDR 2018)—LEARNING to Realize Education’s Promise—is the first ever devoted entirely to education. And the timing is excellent: education has long been critical to human welfare, but it is even more so in a time of rapid economic and social change. The best way to equip children and youth for the future is to place their learning at the center. The 2018 WDR explores four main themes: 1) education’s promise; 2) the need to shine a light on learning; 3) how to make schools work for learners; and 4) how to make systems work for learning.