INFORMATION AND COMMUNICATION TECHNOLOGIES VITAL FOR ECONOMIC TRANSFORMATION

Geneva, Switzerland, 14 October 2009 –The World Economic Forum released today its study on ICT for Enabling Transformation, an analysis of how information and communication technologies (ICT) can serve as strategic enablers in the transformation of the global economy. The analysis notes that to achieve long-term social, economic and environmental benefits, reinvigorated levels of public-private collaboration will be required to ensure robust competition, sustained investment, incentives for innovation and positive societal contribution.

Showcasing the transformative impact of ubiquitous connectivity, distributed computing and a highly intelligent networking core, the analysis demonstrates how ICT can be leveraged across multiple industries for new efficiencies and capabilities. Whether it is upgrading the intelligence of the electric grid, predicting traffic jams before they happen or increasing the flow of information between patients and doctors, ICT is poised as a central element for a transformed and low-carbon society.

“A key element in the transition to low-carbon prosperity will be ICT’s global scale and its ability to create affordable and inclusive solutions,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “Frameworks which support the advancement of global and interoperable network-based solutions will be vital for addressing the world’s toughest economic, social and environmental challenges.” The study notes some of the transformative opportunities within the energy, transportation and healthcare sectors. In the energy sector, smart services and machine-to-machine (M2M) communications are identified as critical enablers for saving natural resources and creating new low-carbon business models. In the automotive and transport sector, an array of opportunities is examined, linking embedded communications from the inside of vehicles with systems that monitor and manage traffic flows. As it relates to the healthcare industry, ICT is shown as a significant platform to help the sector adapt more responsively, improve the quality of care and lower its overall cost structures. “The emerging global communications fabric is intelligent, adaptive and highly innovative,” said Sandy Pentland, Toshiba Professor of Media Arts and Sciences at the MIT Media Lab. “ICT can be viewed as humanity’s nervous system and an ideal platform for building innovative solutions to complex global challenges.” Written in close collaboration with leading experts from the Telecommunications Industry Partner community of the World Economic Forum, this work is the second in a multi-part series highlighting the potential for ICT to serve as a vital platform for addressing the world’s toughest economic, social and environmental challenges. It is available online at http://www.weforum.org/ictforgrowth.