With the world’s largest internet user population – 721 million – China has a parallel digital market because so many of the major global players have no presence there. Some of these countries demonstrate remarkable creativity in the face of severe infrastructural gaps, institutional constraints, and low sophistication of consumer demand. Stall Out countries enjoy a high state of digital advancement while exhibiting slowing momentum. a country’s digital readiness. DOES digitalization lead to a renaissance? The pandemic has boosted networking in Germany. Based on a survey of business leaders that ranks which markets are likely to attract the most investment in the next three years, we find that investor sentiments reveal a variety of paradoxes in the environment for FDI, many of which can be explained by the rise of the age of multi-localism. The United States, Germany and the Netherlands make the top three of the 2018 EDI ranking. … Let us look at each of our three broad index categories in turn. As regards mobile subscription penetration, there are similar behaviors, with 110–113 subscriptions per 100 inhabitants, but typologies differ heavily. Automation, big data, and artificial intelligence enabled by the application of digital technologies could affect 50% of the world economy. To avoid stalling out and rebuilding momentum, policies need to be adopted for: public-private partnerships on digital innovations; better integration of automation, data, and new technologies into the legacy economy; investments in reskilling workers and teaching students in schools the skills and thinking to thrive in a digital world; improving access to capital and digital infrastructure and reducing the many inequities; sensible regulations that keep pace with the transforming rules of competition and have a dynamic view of protecting consumers’ interests without stifling innovation; and reimagining U.S. competitiveness in terms of its digital economy and international data flows and thinking beyond traditional manufacturing and trade of physical goods and services. There are more mobile connections than people on the planet, and more people have access to a mobile phone than to a toilet. Moreover, how strongly each of them is felt varies depending on where you are in the world. Digital technology is widespread and spreading fast. A high score indicates active digital efforts across industry and government, backed by the capital, skills and technology to scale further. Click on the countries displayed within the map below to see the country-specific reports on digital performance, or click in the list. Euler Hermes presents its Enabling Digitalization Index (EDI) 2018, which illustrates each country’s ability to provide the necessary environment for business to succeed in an increasingly digitalized global economy. Currently, the countries have to use innovative solutions in their fight against the virus and the consequences of the epidemic. While digitalization is advanced in places like Norway, Sweden, Switzerland, Denmark, and Finland, the momentum there has slowed, and is slowing in the U.S., Germany, and Japan as well. digital maturity of the country. One reason for the advanced state of digitalisation digitalization in the Baltic country is to be found in its low population density. Country size is also a factor. Digitalization is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities; it is the process of moving to a digital business. While the Netherlands, France, Sweden, and Switzerland are among the least cash-reliant countries in the world, even in the Eurozone, 75% of point-of-sale payments are in cash. 4. Business and Government Investment Building digital infrastructure and … Upstream supply chain phase. Five months after the country demonetized 86% of its currency, cash withdrawals were actually 0.6% higher than a year earlier. They are leaders in driving innovation, building on their existing advantages in efficient and effective ways. As a measure of how well an economy is using information and communications technologies to boost competitiveness and well-being, it will be very interesting to watch the position of the UAE over the next few years. While digitalization is advanced in places like Norway, Sweden, Switzerland, Denmark, and Finland, the momentum there has slowed, and is slowing … This evolution is the outcome of an interplay among four drivers, with about 170 indicators across them (see sidebar). Production phase. Some countries are at the border of multiple zones. Alongside business innovation, digitalization – the development of digital innovations – is one of the most important business trends for the future of the economy. Which countries are the most digitally competitive? Many might be tempted to answer that the US does, but the answer actually depends on what aspect of “digital” you’re looking at. When Unionbank decided to take this journey to digitalization in 2016, Malaya Business Insight was there. Tools . Each of these five features contains both upsides and challenges. the country of advanced technologies, the Global Connectivity Index (GCI-C) devel- oped by Huawei [ 9 ] is worth mentioning. In Africa, while the two largest economies, Nigeria and South Africa, remain in Break Out and Watch Out zones, respectively, digitally savvy Kenya has picked up an impressive level of momentum by assembling a thriving ecosystem. Now in its third year, the IMD World Digital Competitiveness Ranking measures the capacity and readiness of 63 economies to adopt and explore digital technologies as a key driver for economic transformation … The country’s ability to use digital solutions is essential in the fast-paced technologically advancing global world. The aggregate business digitalization index (BDI) in Russia was measured at 50 points. The United States take the lead by far with a score of 87 out of 100. Lebanon is another example; surpassed by Morocco in the Enabling Digitalization Index and ranked at the 90 th position in the Digitization Index out of 100 countries worldwide. We introduced the Digital Evolution Index in HBR in 2015 to trace the emergence of a “digital planet,” how physical interactions — in communications, social and political exchange, commerce, media and entertainment — are being displaced by digitally mediated ones. Every country and multinational needs to be sensitive to the map of digital momentum so that they can tailor their strategies accordingly. Based on their stock prices on July 6, 2017, Apple, Alphabet, Microsoft, Amazon, and Facebook were the five most valuable companies in the world. Traditional trading hubs (such as Hong Kong, Singapore, and the UK) and emerging digital hubs (such as New Zealand and Estonia) can take the lead in creating such “smart” digitally enabled ecosystems. There is both anticipation and apprehension about what lies on the other side of the threshold of the “second machine age.” More than 1 billion jobs and $14.6 trillion in wages are automatable by today’s technology, which could open the door to new ways to harness human energy as well as to displacing routine jobs and increasing social inequities. Cross-border flows of digitally transmitted data have grown manifold, accounting for more than one-third of the increase in global GDP in 2014, even as the free-flow of goods and services and cross-border capital have ebbed in the aftermath of the 2008 recession. Broader, more systemic changes are needed to boost digital evolution in this type of environment. Ben Gummer’s claim, quoted above, is based on a 2016 United Nations E-Government Survey which positioned the UK in pole position in terms of both e-government development and e-participation as shown in Figure 1 below.. The Enabling Digitalization Index created by Euler Hermes helps measuring the “digitagility” of countries, with the US, Germany and the Netherlands on the podium, and shows five options for countries to move up the EDI ranking. Thanks to DiGiX 2018, BBVA Research’s multidimensional digitization index, it is possible to compare which countries are the most advanced in this area, and discover their strengths and weaknesses. This can act as a drag on any initiative. The five-country surveys, covering approximately 1,200 firms, provided the empirical base to examine the extent to which advancements in digitalization are evolving in each country. The country benefits from a large market, a strong knowledge ecosystem and a … Break Out countries are low-scoring in their current states of digitalization but are evolving rapidly. So do high-momentum countries (such as Singapore, New Zealand, and the UAE) as well as many Break Out countries (including China, Malaysia, and Saudi Arabia). Often held back by relatively weak infrastructure and poor institutional quality, Break Out countries would do well to foster better institutions that can help nurture and sustain innovation. Consider the five most salient features of today’s digital landscape. It is essential for them to recognize the risks of plateauing and look to the smaller, higher-momentum countries to explore how policy interventions could be effective in pushing a country into a zone of greater competitiveness. Below, we present a short summary of recent research in this area. As for human capital, the people who are most digitally oriented, with the capacity to meet the challenges that the new technologies present, are the Finns. countries/organizations have started the digitalization path, providing the necessary environment for its development but still with significant challenges. If we fail to pro-actively select our place within the global manufacturing industry we run the risk of continuing on this path of non-industrialization. Clearly, the most exciting region in the world, digitally speaking, is Asia, with China and Malaysia as exemplars. This will enable Africa to create a niche within the global economy. Australia ranked highest in the 2019 Digital Quality of Life index, a study produced by Surfshark, a virtual private network based in the British Virgin Islands. Access to electricity is considered a foundational layer of infrastructure. 3 Established: countries… Inclusive Internet Index, Euler Hermes’ Enabling Digitalization Index, and Dell Technologies’ Digital Transformation Index. In our 2018 ranking, the US, Germany and the Netherlands are the top 3 digitagile countries across the world. The countries investigated in the process represent over 70% of the global population and around 5.5 billion people. Our inquiry started with the following questions: By measuring each country’s current state of digital evolution and its pace of digital evolution over time, we created the following chart, a map of our digital planet (see chart below). The United States, Germany and the Netherlands make the top three of the 2018 EDI ranking. The IMD World Digital Competitiveness Ranking 2019 results . of such companies whose businesses have attained the $1 billion of value benchmark—so-called unicorns. Watch Out countries face significant challenges with their low state of digitalization and low momentum; in some cases, these countries are moving backward in their pace of digitalization. Chart. Digital Economy and Society Index 2020 (DESI) reports are based on 2019 data. The Euler Hermes Enabling Digitalization Index (EDI) measures the ability – and agility – of countries to help digi-tal companies thrive and traditional businesses harness the digital dividend. BloombergNEF’s 2019 ranking reveals the industrial digitalization status of 40 countries and ranks them using metrics in investment, governance, workforce and technology. The picture that summarizes the state of the digital planet will evolve when it does. DESI area report: Research and Development ICT. Digital players wield outsize market power. The UAE. The United Kingdom is still included in the 2020 DESI, and EU averages are calculated for 28 Member States. Yet in this short period, digital technologies have upended our world. Editor’s note: Every ranking or index is just one way to analyze and compare companies or places, based on a specific methodology and data set. India, with its 462 million internet users, has a digital economy representing arguably the greatest market potential for global players; however, it operates in multiple languages and multiple infrastructure challenges, despite the government having taken sweeping actions that affect the digital market. The index analyzes the economies of 99 different countries. At HBR, we believe that a well-designed index can provide useful insights, even though by definition it is a snapshot of a bigger picture. The drivers and key components we analyzed are as follows: We also examined the competitiveness of a country’s digital economy along two dimensions: its current state of digital evolution, as determined by the interplay of the four drivers mentioned above, and its pace of digital evolution over time, as measured by the growth rate of a country’s digital evolution score over the period 2008 – 2015. The DESI was re-calculated for previous years to reflect the changes in the choice of indicators and corrections made to the underlying data. Countries with a long road ahead in their digital development include South Africa, Egypt, and Pakistan. The fact is, technological advances have obliged people to become trained in digital technology; some studies predict that the impact of artificial intelligence and other technologies will be such that,nearly two million jobs will be in danger. The index indicates that countries are clustered as Digitally Constrained,Emerging, Transitional or Advanced, with varying degree of contribution of digitization to economic growth. The DiGiX finds Luxemburg as the highest-placed country in the world when it comes to digitization. Will the world order as portrayed in this year’s Digital Evolution Index get overturned as transformational technologies, such as artificial intelligence, cause widespread changes or regulatory and political considerations add to the unevenness of digital markets? Also, digitalization should be used extensively, especially in situations of lockdown and switching from classical teaching to online systems (Bejinaru, 2019; Tsui & Dragicevic, 2018). Digital technology is reshaping life and business around the globe, but the pace of change varies widely from one country to the next. Momentum is picking up in places like China, Malaysia, Bolivia, Kenya, and Russia, even though those countries may not be as digitally advanced as standouts New Zealand, the U.K., the UAE, and Singapore. A major hurdle is the continuing stickiness of cash, which has not been displaced by digital alternatives despite myriad options. As for the U.S., it is at risk of falling into the Stall Out zone. The European Union has 412 million internet users, but its market is fragmented; it is still in the process of creating a “digital single market.” In many countries, several websites or digital companies are blocked. The IMD World Digital Competitiveness Ranking 2019 results . The question governments need to ask themselves is how they align a ‘here-and-now’ emphasis on job creation with the necessary focus on digitalization. With products that rely on network effects, these players enjoy economies of scale and dominant market share. It is barely 20 years since Sergey Brin and Larry Page registered the domain name google.com, and only 10 years since Steve Jobs walked onto a stage in San Francisco and introduced the iPhone. In parallel, countries in Latin America can learn some lessons from smaller, faster-moving countries, such as Colombia and Bolivia. Stand Out countries are highly digitally advanced and exhibit high momentum. The overall DAI is the simple average of three sub-indexes. In 2013 85% of the world’s transactions were in cash. The United Kingdom is still included in the 2020 DESI, and EU averages are calculated for 28 Member States. The index covers 180 countries on a 0–1 scale, and emphasizes the “supply-side” of digital adoption to maximize coverage and simplify theoretical linkages. We always urge you to read the methodology carefully. Dubai, in particular, is rapidly emerging as a world class digital nation. The Euler Hermes Enabling Digitalization Index (EDI) measures the ability – and agility – of countries to help digital companies thrive and traditional businesses harness the digital dividend. To stay ahead, these countries need to keep their innovation engines in top gear and generate new demand, failing which they risk stalling out. Stall Out countries may look to Stand Out countries for lessons in sustaining innovation-led growth. In our 2018 ranking, the US, Germany and the Netherlands are the top 3 digitagile countries across the world. Furthermore, we placed a focus on whether two structural features of developing countries, More sensible and value-creating investments are needed, rather than a herd mentality that has resulted in a stampede of unicorns, while starving more complex, less fad-driven venture ideas that take on deeper problems. country on digital startups. United United Kingdom remains in second place followed by Hong Kong (3rd), United States (4th) and Netherlands (5th. Clearly, much of this has to do with the digital momentum being experienced in countries around the world, as well as with the systemic nature of the forces that govern digital evolution. In conclusion, the world’s digital economy stands at a threshold where opportunity and risk stand in balance. Notably, two of the world’s most significant economies, the U.S. and Germany, are at the border of Stand Out and Stall Out, with a third, Japan, in the neighborhood. Digital Economy and Society Index 2020 (DESI) reports are based on 2019 data. DIGITALIZATION in the 15-country mega trade deal could improve trade systems with key partners, a research fellow from the Philippine Institute for Development Studies (PIDS) said. The world’s biggest trade deal, the Regional Comprehensive Economic Partnership (RCEP), was signed by China, Australia, New Zealand, Japan, South Korea and all 10 Association of Southeast Asian Nations … Euler Hermes presents the third edition of its Enabling Digitalization Index (EDI), which analyzes a country’s ability to provide an environment where companies can digitally transform successfully. However, sustaining consistently high momentum over time is challenging, as innovation-led expansions are often lumpy phenomena. They have deep resources for innovation with the ability to accelerate the penetration and adoption of digital products. Their rise to prominence is evidenced in the number . For global technology players and policy makers, it is essential to understand how the progress toward a digital planet is proceeding in different parts of the world. Most of the developing world is overwhelmingly cash-dependent; in Malaysia, Peru, and Egypt, only 1% of transactions are cashless. Each sub-index comprises technologies … access to a mobile phone than to a toilet. Also, there is a difference in the number of the Arab countries included in these indices. The DAI is a worldwide index that measures countries’ digital adoption across three dimensions of the economy: people, government, and business. India, with many policy-led pushes for digitalization, including a Digital India campaign and initiatives to give a boost to digital payments, ought to pay attention to the overall low level of evolution in the country. Key economic and social indicators. The Industry Digitalisation Index (IDI), tracks businesses’ digitalisation progress across sectors, and spans four separate functions of digitalisation in the processes of trade and general business activities. 15. Around the world, digital access itself is far from uniform: Barely 50% of the world’s population has access to the internet today. Publication Finder ... "Digitalization index of banks in Russia in 2020, by stage of customer journey*." Which country leads the world in digital? Figure 4: The Digital Evolution Index. The Digital Economy and Society Index (DESI), Integration of Digital Technology by Enterprises, Digital Economy and Society Index Report - the telecoms chapters. Of these, 54 percent are based in the United States to date, with 23 percent in China, and 10 percent in Europe. Digital technologies are poised to change the future of work. Within the digital entrepreneurship sector, IPOs and exits have not been keeping pace with the record sums of capital being pumped in. First, digital assets. To benchmark them, the index measures how much companies invest in hardware, software, data, and IT services (whether through outright purchases or contracting with third parties to fill in gaps). Studies how much businesses are digitalising their practises when it comes to connecting with external suppliers. In the meantime, the UK’s digital momentum is stronger than its EU peers. Retail e-commerce sales worldwide are expected to hit $4 trillion by 2020, about double of where it is now. Because the distance to local authorities is usually considerable, Estonians began working on digital solutions very early on. However, the role of digitalization has become particularly important in the face of worldwide pandemic. Enabling internet access on the mobile phone provides the biggest bang for the buck. First, digital assets. world’s largest internet user population – 721 million, greatest market potential for global players, 75% of point-of-sale payments are in cash, Institute for Business in the Global Context, Chief Enterprise Security Solutions Officer. Over the past year, all EU countries improved their digital performance. What are the patterns of digital evolution around the world? Let us look at each of our three broad index categories in turn. Harvard Business Publishing is an affiliate of Harvard Business School. Where momentum is picking up, and where it’s stalling out. While much has changed even since 2015, there are roadblocks on the journey that have remained surprisingly resilient. Smaller countries with strong institutions can create high value as early adopters and create a demonstration effect for the world by assembling the right ecosystem. Even in the short period since we published the previous edition of the Digital Evolution Index, much has changed in the journey to the digital planet, and just as surprising, there are many speed bumps scattered along the way. While more people can benefit from access to information and communication, the potential for bad actors to create widespread havoc increases; with every year, the incidents of cyberattacks get bigger and have wider impact. Country Outlook . This growth rate, which we refer to as momentum, is a lead indicator of a country’s future digital potential and prospects. The Euler Hermes Enabling Digitalization Index (EDI) measures the ability – and agility – of countries to help digi-tal companies thrive and traditional businesses harness the digital dividend. As part of a collaboration between the Fletcher School at Tufts University and Mastercard, we created the Digital Evolution Index and analyzed the state and rate of digital evolution across 60 countries. One of us (Bhaskar) has made the point that there is a “missing political debate” in the U.S. over the digital economy, despite that fact that American digital companies and innovations are pre-dominant worldwide. We identified many hotspots around the world where these changes are happening rapidly and other spots where momentum has slowed. Even India’s demonetization experiment has not broken the country’s heavy cash dependence. Depending on a country’s level of digital evolution and economic advancement, there are different drivers that are primarily responsible for digital momentum. But no one should panic, because jobs are … The Digital Evolution Index, a joint project between The Fletcher School at Tufts University and Mastercard, traces the emergence of a “digital planet.” In other words, it maps how physical interactions – in communications, social and political exchange, commerce, media and entertainment — are being displaced by digitally mediated ones, and pinpoints where this transition is happening most rapidly. Now in its third year, the IMD World Digital Competitiveness Ranking measures the capacity and readiness of 63 economies to adopt and explore digital technologies as a key driver for economic transformation … The various reports present the data in areas like connectivity, digital skills, digital public services, and more. Finland, Sweden, Denmark and the Netherlands scored the highest ratings in DESI 2020 and are among the global leaders in digitalisation. country, including factors such as: local rule of law, the Ease of Doing Business Index, the Logistics Performance Index (LPI) infrastructure rating, and the time it takes businesses to obtain access to electricity. Top in the ranking are Luxembourg, the U.S. the Netherlands, Singapore and Hong Kong, while Malaysia, South Africa, Chile … Moving past these “digital plateaus” will require a conscious effort by these countries to reinvent themselves, to bet on a rising digital technology in which it has leadership, and to eliminate impediments to innovation. The surest way for these countries to move the needle on momentum would be to improve internet access by closing the mobile internet gap — that is, the difference between the number of mobile phones and the number of mobile phones with internet access. 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