Digital technologies are transforming the global economy and society in fundamental ways: 1) Mobile broadband and digital technologies have enabled supercomputers to be carried in people's pockets, generating huge data flows and fueling disruptive innovation. 2) Digitization allows value creation to be decoupled from geography as digital firms are able to globally scale without requiring large numbers of employees in any single location. 3) The Internet, through open standards and decentralized architecture, enables global interoperability, permissionless innovation, and new platforms that facilitate many-to-many interactions instead of traditional one-to-many models.