Building a digital economy and society that is trusted, inclusive and sustainable requires urgent attention in six priority areas according to a new report, Our Shared Digital Future, published by the World Economic Forum today.
The report represents a collaborative effort by business, government and civil society leaders, experts and practitioners. It follows an 18-month dialogue aimed at restoring the internet’s capacity for delivering positive social and economic development.
The report comes at a historic moment on the day when, for the first time, more than one-half of the world’s population is now connected to the internet. At the same time, less than one-half of those already online trust that technology will make their lives better.
With 60% of the global economy forecast to be digitized by 2022, there remains huge potential for the Fourth Industrial Revolution to lift more people out of poverty and strengthen societies and communities. However, success depends on effective collaboration between all stakeholder groups. The authors, in addition to unveiling six key areas for action, also highlight several existing efforts at global and local levels where collaboration is helping to restore trust and deliver broad-based societal benefits.
The six priority areas for multistakeholder collaboration are:
Internet access and adoption
Internet access growth has slowed from 19% in 2007 to 6% in 2017. At the same time, we have reached the milestone of 50% of the world’s population being connected to the internet. To close the digital divide, more investment is needed to not only provide access, but also improve adoption.
Good digital identity
By 2020, the average internet user will have more than 200 online accounts and by 2022, 150 million people are forecast to have blockchain-based digital identities. However, 1 billion people currently lack a formal identity, which excludes them from the growing digital economy. Good digital identity solutions are key to addressing this divide, empowering individuals, and protecting their rights in society.
Positive impact on society
By 2022, an estimated 60% of global GDP will be digitized. In 2018, companies are expected to spend more than $1.2 trillion on digital transformation efforts. Yet, only 45% of the world’s population feel that technology will improve their lives. Companies need to navigate digital disruption and develop new responsible business models and practices.
Cyberattacks result in annual losses of up to $400 billion to the global economy. More than 4.5 billion records were compromised by malicious actors in the first half of 2018, up from 2.7 billion records for the whole of 2017. A safe and secure digital environment requires global norms and practices to mitigate cyber-risks.
Governance of the Fourth Industrial Revolution
Policy-makers and traditional governance models are being challenged by the sheer magnitude and speed of the technological changes of the Fourth Industrial Revolution. Developing new and participatory governance mechanisms to complement traditional policy and regulation is essential to ensure widespread benefits, close the digital divide and address the global nature of these developments.
The amount of data that keeps the digital economy flowing is growing exponentially. By 2020, there will be more than 20 billion connected devices globally. Yet there is no consensus on whether data is a type of new currency for companies to trade or a common public good that needs stricter rules and protection. The digital economy and society must bridge this gap by developing innovations that allow society to benefit from data while protecting privacy, innovation and criminal justice.
“The digital environment is like our natural environment,” said Derek O’Halloran, Head, Future of Digital Economy and Society, the World Economic Forum. “We all – governments, businesses, individuals – have a duty to ensure it remains clean, safe and healthy. This paper marks a step forward in offering a blueprint for a better internet we can all work towards: One that is inclusive, trustworthy and sustainable.”
The report is part of ongoing work by the World Economic Forum to provide a platform to accelerate, amplify or catalyse collaborative efforts from business, government, academia and civil society to advance progress towards an inclusive, trustworthy and sustainable digital economy. The report provides an overview of key issues for the digital economy and society, establishes priorities for multistakeholder collaboration for the year ahead, and highlights existing key initiatives and resources.
“Our existing institutions, mechanisms and models are struggling to effectively respond to the pace of digital change and its distributed nature. This report identifies critical areas of focus for public-private partnerships to help restore trust in an inclusive and prosperous digital future,” said Jim Smith, Chief Executive Officer, Thomson Reuters and Co-Chair, World Economic Forum System Initiative on Shaping the Future of Digital Economy and Society.
“While recognizing that digital developments fuel many opportunities in political, commercial and social spheres, a key point of this paper is the need to focus on inclusion and addressing digital divides; only through incorporating more voices and views – in the development of political and commercial policies – will we be able to create a society that truly benefits all,” said Lynn St. Amour, Chair of the UN Internet Governance Forum (IGF)’s Multistakeholder Advisory Group, and Co-Chair, World Economic Forum System Initiative on Shaping the Future of Digital Economy and Society.
Science and society: Mind the gap
International regulations are failing to keep up with the mind-boggling pace of new scientific discoveries and potential “cowboy” applications.
As we go about our daily lives we never quite know what is around the corner. Is there anything we are doing—a technology we are using–which could one day cause us harm or threaten our existence?
When scientists discovered the ozone layer was being depleted, policymakers eventually heeded the dire warnings of damage to the environment and human health, and a global agreement was reached to take remedial action.
Science is double-edged in that it can bring enormous benefits to humans, but at the same time it can create things we did not intend, with harmful consequences.
Today, scientists are using new tools like 3D printing, artificial intelligence and increasingly powerful computers, microscopes and satellites to better understand our world. They are discovering possible solutions to challenges we know about and are uncovering emerging challenges.
While innovative science holds out the possibility of solving many of the climate change and ecosystems challenges we face, we must be careful not to unleash a Frankenstein. Thus, it is important that society at large understands the global implications of new discoveries and governments agree on regulations in line with the precautionary principle.
Under this principle, stringent risk assessment and the inclusion of diverse stakeholder perspectives should be applied in the development and handling of innovative applications and products. The precautionary principle states that when human activities may lead to unacceptable harm that is scientifically plausible but uncertain, action should be taken to avoid or diminish that harm.
Part of UN Environment’s work is horizon-scanning for the latest discoveries with potentially global implications. To this end, it works with scientists and organizations across the world to highlight the most important emerging challenges for decision-makers in government, business and civil society and provide them with the knowledge and options to act quickly.
At the micro-level, there have been some amazing discoveries recently. Take seed preservation, which is vital given that the world is losing plant species at an unprecedented rate, with about one in five thought to be at risk of extinction.
The Global Strategy for Plant Conservation requires that 75 per cent of threatened plant species be conserved ex situ by 2020. But seed banking (where seeds are dried and stored in a vault at minus 20°C) is not an option for many threatened plants such as oak, chestnut and avocado trees. These trees have desiccation-sensitive seeds which are killed if dried. According to models published in the journal Nature Plants, 36 per cent of critically endangered plant species, 33 per cent of all trees and about 10 per cent of medicinal plants fall into this category.
So alternative techniques are needed. Researchers are investigating cryopreservation for these hard-to-store seeds, which include staples such as coffee and cocoa. Cryopreservation involves removing the plant embryo from the rest of the seed, then freezing it at very low temperatures in liquid nitrogen.
Meanwhile in the United States, scientists have demonstrated how they can generate small quantities of electricity from a mushroom covered in bacteria.
Researchers at Stevens Institute of Technology in the United States used 3D printing to attach clusters of energy-producing bugs to the cap of a button mushroom. They made the mushroom “bionic” by supercharging it with 3D-printed clusters of cyanobacteria (a group of photosynthetic bacteria) that generate electricity, and swirls of graphene nanoribbons that can collect the current. The mushroom, a fungus, provides an environment in which the cyanobacteria can last several days longer than on a silicone and dead mushroom as suitable controls. Such discoveries herald the possibility of harnessing bacteria in new ways for clean energy generation in the future.
One challenge identified by UN Environment and partners is the advanced genetic-engineering technology known as synthetic biology. Did you know that scientists can modify microorganisms like E. coli by rewriting their genetic code to turn them into tiny living factories that produce biofuel? Or that Baker’s yeast can also be reprogrammed to derive an antimalarial drug called artemisinin, which is normally sourced from the sweet wormwood plant?
Synthetic biology is defined by the Convention on Biological Diversity as a further development and new dimension of modern biotechnology that combines science, technology and engineering to facilitate and accelerate the understanding, design, redesign, manufacture and/or modification of genetic materials, living organisms and biological systems.
However, the intentional or accidental release of genetically engineered organisms into the environment could have significant negative impacts on both human and environmental health.
Synthetic biology has been identified as an emerging issue with potentially global implications. As such, it will feature alongside governance of geo-engineering, permafrost peatlands, maladaptation (actions that may lead to increased risk of adverse climate-related outcomes), the circular economy of nitrogen, and landscape connectivity in UN Environment’s flagship Frontiers Report due to be released in March 2019.
New year, new smart home innovations for your interconnected life
Smart home products made major strides in 2018. More people than ever now use connected devices in their homes, and smart home hubs are constantly adding new integrations and capabilities. Research from Statista predicts that by the end of 2018, more than 45 million smart home devices will be installed in U.S. homes, fueling an exciting new phase for the smart home industry, offering consumers new and improved smart technologies and giving rise to a totally interconnected, easy-to-control environment termed the “smart home.”
This innovation looks to continue in the new year with increasingly intuitive products that make life more enjoyable and interconnected. Here are the new smart home products ready to change the way we live in the new year, coming out of the 2019 Consumer Electronics Show (CES).
Laundry made easy
The calendar might have changed, but your laundry needs haven’t gone anywhere. Thankfully, smart home technology is making the chore a little easier with LG’s Ultimate Laundry Room.
The LG Styler is a first-of-its-kind steam clothing care system certified as asthma and allergy friendly(R) by the Asthma and Allergy Foundation of America (AAFA). The Wi-Fi enabled smart LG Styler reduces wrinkles and odor and refreshes garments with the fastest cycle on the market today — as little as 20 minutes — thanks to the gentle power of pure steam technology. Furthermore, LG TWINWash(TM) with SideKick(TM) pedestal washer, an industry-first innovation for laundry, allows users to tackle small loads that are a big deal and can’t wait or wash two loads at the same time.
With LG Styler for daily refreshes, the innovative LG SideKick(TM) mini washer for small loads that can’t wait, and LG’s award-winning top and front load washers and dryers, the LG Ultimate Laundry Room suite of products can be started, stopped or monitored from anywhere using LG’s SmartThinQ(R) app. Users will receive notifications when a cycle has finished, or they can download new cycles, check energy usage and quickly troubleshoot minor issues using Smart Diagnosis. For added convenience, these home solutions can also be controlled with simple voice commands using the Google Assistant.
Smarter home with smart displays
Laundry is just one example of how smart home technology is making life easier. By adding other connected appliances and devices, you can develop a true smart home ecosystem in which seamless integrations produce valuable efficiency. One of the best ways to anchor your ecosystem is with a smart display like the new LG XBOOM AI ThinQ WK9 Smart Display. The advanced smart display builds on the capabilities of a Google Assistant speaker with the added convenience of a touchscreen display and, in partnership with Meridian Audio, delivers high-fidelity sound, precise vocal definition and accurate bass, despite its compact size.
In addition to its audio and video capabilities, the WK9 enables control of other LG ThinQ products such as LG TVs and home appliances, plus more than 10,000 smart devices from over 1,000 brands that work with Google Assistant. By establishing a go-to hub for all your smart home devices, you can increase connectivity and create a fully integrated smart home environment.
Stay connected on-the-go
As innovation continues, smart home technology is branching outside of the home itself. With new products, you can receive notifications regarding your home from anywhere, making sure you never lose touch with the most important things in your life. The first full-screen smartwatch with mechanical hands, the LG Watch W7 allows you to connect and control your smart devices. With two mechanical hands and a micro gearbox, users can enjoy the full WearOS smartwatch experience with the essence and mechanism of a true timepiece. With mobile connectivity, your life becomes easier no matter where you are.
Smart home technology is all about making our lives easier and more comfortable. Whether you’re just doing laundry, looking to power your whole home, or even taking that control on the road, new smart home products provide a level of convenience that’s changing the way we live.
From Steel to Smartphones, Meet the World Economic Forum’s New Factories of the Future
The World Economic Forum today announces the addition of seven new factories to its network of “Manufacturing Lighthouses”, state-of-the-art facilities that serve as world leaders in how to successfully adopt and integrate the cutting-edge technologies of the Fourth Industrial Revolution.
The Lighthouses join a group of nine others, which were unveiled in 2018. All were selected from an initial list of 1,000 manufacturers based on their successful implementation of Fourth Industrial Revolution technologies in ways that have driven financial and operational impact.
The wider purpose of the community is to help overcome the practical challenges being experienced by industries in advanced and emerging economies when upgrading technology. Earlier work by the Forum identified that more than 70% of businesses investing in technologies, such as big data analytics, artificial intelligence (AI) or 3D printing, fail to move beyond the pilot phase. In response to this, all Lighthouses in the network have agreed to open their doors and share their knowledge with other manufacturing businesses.
The new Lighthouses represent a range of industries and geographical locations, with four factories located in Europe, two in China and one in the Middle East. Importantly, the list also contains a medium-sized business, the Italian-based Rold. One frequent challenge highlighted by businesses is that they lack the scale and resources to implement advanced technologies cost effectively.
The new Lighthouses are:
BMW Group (Regensburg Plant, Germany): This car plant manufactured approximately 320,000 vehicles in 2018. By using the custom BMW internet of things platform, it incurred time and cost, but the result has been cut the time to deploy all new applications by 80% leading to, among other things, a significant reduction in logistics costs and 5% reduction in quality issues.
Danfoss, Commercial Compressors (Tianjin, China): This factory makes compressors for refrigerators, air conditioning units and other products. By using its full digital traceability system and digital tools such as smart sensors, visual inspection, auto monitoring system etc. to improve quality control, it has improved labour productivity by 30% and decreased customer complaints by 57% within two years.
Foxconn (Shenzhen, China): “Lights off factory” – This factory, which specializes in components for smartphones and other electrical equipment, boasts a fully automated manufacturing process with machine learning and AI driving auto optimization of equipment, smart self-maintenance and real-time status monitoring in smart production. Its Fourth Industrial Revolution-first approach has resulted in efficiency gains of 30% and lowered its stock cycle by 15%.
Rold (Cerro Maggiore, Italy): This 240-employee business makes locking mechanisms for washing machines and dishwashers. As the only SME in the Lighthouse network, its use of Fourth Industrial Revolution technologies such as smart watches, rapid prototyping and digital dashboards has helped improve turnover by between 7% and 8%.
Sandvik Coromant (Gimo, Sweden): This producer of cutting tools and solutions has created a digital thread through its production processes that has significantly raised labour productivity. One example is its ‘touchless changeover’ which allows design patterns to be changed automatically, even during unmanned shifts.
Saudi Aramco Uthmaniyah Gas Plant (Uthmaniyah, Saudi Arabia): The giant’s gas processing plant has become a leader in a number of Fourth Industrial Revolution technologies including the use of Advanced Analytics and Artificial Intelligence solutions via Saudi Aramco Fourth Industrial Revolution Center, the use of drones to inspect pipelines and machinery (cutting inspection times by 90%) and wearable technologies such as digital helmets that help workers cut the time it takes to make inspections and repairs.
Tata Steel (IJmuiden, The Netherlands): This plant of 9,000 employees is putting its people first, creating an Advanced Analytics Academy to help workers come up with solutions to reduce waste, and improve the quality and reliability of production processes. This work has resulted in a significant improvement in financial results.
The Lighthouse programme has been conducted in collaboration with McKinsey. In conjunction with the expansion of the network, the Forum today also publishes a white paper, Fourth Industrial Revolution: Beacons of Technology and Innovation in Manufacturing, which showcases findings from the project to date.
“Lighthouse factories are found in companies large and small, in all industries and regions. Rather than replacing operators with machines, lighthouse factories are transforming work to make it less repetitive, more interesting, diversified and productive. Rather than staying within the factory walls, Lighthouses build a broad innovation system with business, government and civil society. Beyond local pilots, Lighthouses create value and resilience through the supply chain, and agility and responsiveness for customers. Technology, deployed wisely in our manufacturing and production system, can create a better, cleaner world. We hope this network can be a source of inspiration to help break out of productivity stagnation and deliver the maximum positive benefit for society,” said Helena Leurent, Head of the Shaping the Future of Production System Initiative at the World Economic Forum.
“These 16 Lighthouses represent a turning point. We are now seeing the start of the second phase, as Fourth Industrial Revolution technologies are penetrating the core of all industries, and our platform of 16 Lighthouses is the clearest sign we have,” said Enno de Boer, Partner and Head of McKinsey’s Global Manufacturing Practice, which collaborated with the Forum on the project. “However, these leaders have a two-year head start ahead of companies that are still sorting out how to scale. We are running the risk that the value creation will be centered around a few ecosystems, rather than disseminated across entire industries. The race has clearly started.”
The extended network of “Manufacturing Lighthouses” will be officially presented at the World Economic Forum’s Annual Meeting 2019, taking place on 22-25 January 2019 in Davos-Klosters, Switzerland, and convening under the theme, Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution.
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