How Technology is Reshaping the World Economy

Please join ITIF for discussion of a thought-provoking new report, Technology: Reshaping the Global Economy, by Standard Chartered, which assesses the impact transformative digital technologies—including mobile, big data, robotics, 3D-printing, and artificial intelligence—will have on the development strategies of both emerging and developed economies. The report articulates the significant impacts digital technologies will have on business strategy and public policy, documenting how they will reshape developing countries’ roles in the global production system and can help developed nations avoid secular stagnation. The report clearly rejects the notion that productivity-enhancing technologies will engender mass unemployment and it forcefully makes the case that—for all nations—it is the adoption, not production, of technology that matters most. The report argues governments should therefore focus on creating conditions for effective adoption rather than try to create their own technology leaders. It concludes with policy recommendations all nations can apply to maximize the benefits of emerging technologies to their economies.