July 6, 2016Michael Sutherland-Shaw
How does your country stack up in relation to the economic benefits of investing in information and communications technologies (ICT)?
That was the question the World Economic Forum was looking to answer with the Global Information Technology Report 2016. Using the Networked Readiness Index, the report examined the factors, policies and institutions enabling a country to fully leverage ICT for increased competitiveness and well-being.
In addition, the report also looked at how the role of ICT is driving innovation on a global scale.
“Measuring the economic and social impact of the digital economy is important for making appropriate policy decisions in both developed and developing economies. The Networked Readiness Index is a valuable tool for helping public and private sector leaders in leveraging the potential of technology,” said Soumitra Dutta, Cornell University.
Enter the Fourth Industrial Revolution.
With more and more countries transitioning to a digital-first attitude, seven nations lead the pack.
According to the report, Finland, Switzerland, Sweden, Israel, Singapore, the Netherlands and the United States on average scored 33% higher than other advanced economies and 100% more than emerging and developing economies when it comes to the economic benefits of ICT.