Dr. Carlos Garcia, Honorary Ambassador for Life to the United Nations

Dr. Carlos Garcia, Honorary Ambassador for Life to the United Nations

We witnessed a dramatic acceleration in digital transformation, effectively moving the digital economy into the mainstream. The pandemic reminded businesses, too, of the importance of agility, further fueling the growth of digital technology across the board. Right now, in unprecedented times, 53% of enterprises worldwide have adopted an organization-wide digital transformation strategy.

Indeed, governments have recognized that the future is digital, making it a cornerstone of national development accordingly. For example, El Salvador has ambitious plans to emerging cybersecurity and data privacy laws and regulations; the right policies are necessary to encourage an innovative digital economy while avoiding unnecessarily costly or overly restrictive policies.

The Future Is Digital: Taking the Red Pill

Digital technologies are proliferating and touching more and more aspects of the economy, particularly in terms of the way products and services are consumed or delivered, the way transactions are conducted, and how operations are performed.

The Future of Services and Commerce: Organizations today are taking a digital-by-default approach to services and commerce. In fact, the majority of government and banking transactions today are already conducted online.

The Technologies that Enable the Digital Economy

As economies and enterprises move toward a digital future, certain key technologies will prove essential to their transformation journeys. Investment in these technologies — which include Artificial Intelligence (AI), the cloud, and 5G — will act as a catalyst for the growth of the digital economy.

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