The United Nations Conference on Trade and Development
(UNCTAD) has said that digitalization will create more opportunities for
entrepreneurs and businesses, reports ITRealms.
UNCTAD in its latest policy brief made available to
ITRealms, noted that the world is at the dawn of the next technological
revolution, bearing transformational implications for all.
“Digitalization will create opportunities for entrepreneurs
and businesses, and bring benefits to consumers,” part of the statement read.
Pointing out that the global growth of e-commerce is a good
example of this. However, many existing practices will be disrupted, and
incumbents exposed to competition. Skills requirements of workers will change,
and many jobs will be lost and created due to automation.
Like previous large-scale economic transformations, the UN
agency noted that the benefits will be immense, but they will not materialize
through a smooth, cost-free transition.
The net outcome will depend on policies undertaken at the
national and international levels to build countries’ capabilities – in a wide
range of policy areas – to maximize the benefits of these transformations and
ensure their equitable distribution.
Consistency with international commitments such as the 2030
Agenda for Sustainable Development requires a strong international effort to
ensure that no one is left behind in the transition to a digital economy.
An holistic policy approach towards digitalization and trade
would be a step in the right direction towards recognition of the right of
people in developing countries to connect to the new world of technological
progress and benefit from the prosperous future they deserve.
Nenye Dom/GEE
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