Citi has launched its latest Global Perspectives & Solutions (Citi GPS) report, entitled: ‘’Holistic Digital Policy – Nation States Must Lead in Building Equitable Human-Centric Digital Economies.’’
The report sets out some focal areas for countries and governments to assist in moving to a more digital economy, including artificial intelligence (AI), inclusive finance, digital infrastructure, private sector incentives, and regulations.
It suggests that each nation develops and implements a holistic digital policy that complements monetary and fiscal goals while facilitating sustainable economic growth and inclusion.
It said holistic digital policy seeks to incentivise and align other stakeholders such as corporates, financial institutions, civil society and individuals to achieve the collective economic and United Nations (UN) Sustainable Development Goals. It outlines five focal areas that adopted alongside digital policy including digital infrastructure, data, AI and biotech, technology monopoly, and digital finance.
Chairman, Institutional Clients Group, Citi, Naveed Sultan, said: “We believe that we are at a unique point in time where there are major transitions underway, driven by varied and complex externalities and the rapid development of a broad range of general purpose technologies.”
Founding Partner, Digiteccs Associates, Dalibor Vavruska, said: “The technological revolution is improving the efficiency of organisations across sectors and countries, is empowering economic inclusion, and could provide solutions to systemic challenges such as climate change.‘’
However it also presents risks such as job displacement together with other adverse impacts and a breakdown of global governance. Therefore, It is important that countries and governments work together to shape these technologies to optimise the outcome and manage the risks.”
– The Nation