Digital commerce must still contend with cash. 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. With products that rely on network effects, these players enjoy economies of scale and dominant market share. Publication Finder ... "Digitalization index of banks in Russia in 2020, by stage of customer journey*." Each sub-index comprises technologies … 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. Where momentum is picking up, and where it’s stalling out. Which actors are the prime drivers of competitiveness: public or private sector? 3 Established: countries… As regards mobile subscription penetration, there are similar behaviors, with 110–113 subscriptions per 100 inhabitants, but typologies differ heavily. 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. 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. First, digital assets. 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. Around the world, digital access itself is far from uniform: Barely 50% of the world’s population has access to the internet today. Also, there is a difference in the number of the Arab countries included in these indices. The overall DAI is the simple average of three sub-indexes. Which country leads the world in digital? Despite some technical hurdles, working from home is on the rise here to an extent thought impossible a couple of months ago. Without question, the Stand Out and Break Out countries are benefiting from a combination of the strong rates of digitalization and the involvement of governments in orchestrating digital economies. Also, digitalization should be used extensively, especially in situations of lockdown and switching from classical teaching to online systems (Bejinaru, 2019; Tsui & Dragicevic, 2018). We identified many hotspots around the world where these changes are happening rapidly and other spots where momentum has slowed. Digital technology is widespread and spreading fast. However, sustaining consistently high momentum over time is challenging, as innovation-led expansions are often lumpy phenomena. 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 high-performing digital sectors, such as those in the EU, typically have had strong government/policy involvement in shaping the digital economies. Finland, Sweden, Denmark and the Netherlands scored the highest ratings in DESI 2020 and are among the global leaders in digitalisation. 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. 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 United States, Germany and the Netherlands make the top three of the 2018 EDI ranking. 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. The most valuable non-American company, 7th overall, was China’s e-commerce giant, Alibaba Group. United United Kingdom remains in second place followed by Hong Kong (3rd), United States (4th) and Netherlands (5th. 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. 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. Figure 1: E-Government Development and E-Participation Index Second, those working to accelerate their country’s digital momentum should focus on specifics: identifying and amplifying the country’s unique drivers of digital momentum. Consider the five most salient features of today’s digital landscape. This evolution is the outcome of an interplay among four drivers, with about 170 indicators across them (see sidebar). Below, we present a short summary of recent research in this area. Key economic and social indicators. 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. 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. Digital players wield outsize market power. Access to electricity is considered a foundational layer of infrastructure. 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). Moreover, how strongly each of them is felt varies depending on where you are in the world. Of these, 54 percent are based in the United States to date, with 23 percent in China, and 10 percent in Europe. the country of advanced technologies, the Global Connectivity Index (GCI-C) devel- oped by Huawei [ 9 ] is worth mentioning. Countries with a long road ahead in their digital development include South Africa, Egypt, and Pakistan. 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. The UAE. 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. Let us look at each of our three broad index categories in turn. Enabling internet access on the mobile phone provides the biggest bang for the buck. 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. 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. This will enable Africa to create a niche within the global economy. This has different implications for what advanced economies and developing economies ought to prioritize: innovation for the former and institutions for the latter. Automation, big data, and artificial intelligence enabled by the application of digital technologies could affect 50% of the world economy. Top in the ranking are Luxembourg, the U.S. the Netherlands, Singapore and Hong Kong, while Malaysia, South Africa, Chile … 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. 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. The United States, Germany and the Netherlands make the top three of the 2018 EDI ranking. The Digital Economy and Society Index (DESI), Integration of Digital Technology by Enterprises, Digital Economy and Society Index Report - the telecoms chapters. 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. 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. Click on the countries displayed within the map below to see the country-specific reports on digital performance, or click in the list. 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). The index indicates that countries are clustered as Digitally Constrained,Emerging, Transitional or Advanced, with varying degree of contribution of digitization to economic growth. 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. In the meantime, the UK’s digital momentum is stronger than its EU peers. Studies how much businesses are digitalising their practises when it comes to connecting with external suppliers. When it comes to Internet penetration, the US has much higher rates than in the EU, 88 percent compared with 71 percent. Countries on this chart fall into four zones: Stand Out, Stall Out, Break Out, Watch Out. country on digital startups. 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 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. Many might be tempted to answer that the US does, but the answer actually depends on what aspect of “digital” you’re looking at. In parallel, countries in Latin America can learn some lessons from smaller, faster-moving countries, such as Colombia and Bolivia. 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. Some of these countries demonstrate remarkable creativity in the face of severe infrastructural gaps, institutional constraints, and low sophistication of consumer demand. Politics, regulations, and levels of economic development play a major role in shaping the digital industry and its market attractiveness. We always urge you to read the methodology carefully. They have deep resources for innovation with the ability to accelerate the penetration and adoption of digital products. DESI area report: Research and Development ICT. a country’s digital readiness. 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. 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. 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. 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. 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 high momentum of Break Out countries and their significant headroom for growth would make them highly attractive to investors. What are the patterns of digital evolution around the world? 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. But no one should panic, because jobs are … 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 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. 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. They are leaders in driving innovation, building on their existing advantages in efficient and effective ways. Our analysis of digital evolutions yields several implications for both public- and private-sector leaders as they explore ways to enhance the state of the digital economies across the world. Country size is also a factor. The Most Tech-Savvy Governments. 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? Country Outlook . Digital Economy and Society Index 2020 (DESI) reports are based on 2019 data. Broader, more systemic changes are needed to boost digital evolution in this type of environment. When Unionbank decided to take this journey to digitalization in 2016, Malaya Business Insight was there. Within the digital entrepreneurship sector, IPOs and exits have not been keeping pace with the record sums of capital being pumped in. Their rise to prominence is evidenced in the number . In conclusion, the world’s digital economy stands at a threshold where opportunity and risk stand in balance. Despite uncertainties regarding its reforms agenda, the country is seen as pivotal to Europe’s regeneration. The DiGiX finds Luxemburg as the highest-placed country in the world when it comes to digitization. Harvard Business Publishing is an affiliate of Harvard Business School. Dubai, in particular, is rapidly emerging as a world class digital nation. Production phase. The DAI is a worldwide index that measures countries’ digital adoption across three dimensions of the economy: people, government, and business. In our 2018 ranking, the US, Germany and the Netherlands are the top 3 digitagile countries across the world. The pandemic has boosted networking in Germany. Digitalization has many different aspects, which are explained in this article. The IMD World Digital Competitiveness Ranking 2019 results . 3 Infrastructure in the EDAI refers to IT infrastructure, including measures of mobile and fixed line connections. Where quantified, agreement or strong agreement to indicators were found to be between 35 and 65 percent. 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. … As for the U.S., it is at risk of falling into the Stall Out zone. While digitalization is advanced in places like Norway, Sweden, Switzerland, Denmark, and Finland, the momentum there has slowed, and is slowing … The fact that German companies rate themselves so much worse than their European neighbors do is astounding. countries/organizations have started the digitalization path, providing the necessary environment for its development but still with significant challenges. Two years on, depending on where we live, we continue to move at different speeds toward the digital planet. This growth rate, which we refer to as momentum, is a lead indicator of a country’s future digital potential and prospects. 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 … Countries in the Stall Out zone can put their maturity, scale, and network effects to use to reinvent themselves and grow. The countries investigated in the process represent over 70% of the global population and around 5.5 billion people. The country’s ability to use digital solutions is essential in the fast-paced technologically advancing global world. One reason for the advanced state of digitalisation digitalization in the Baltic country is to be found in its low population density. However, the role of digitalization has become particularly important in the face of worldwide pandemic. 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. 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. Stall Out countries may look to Stand Out countries for lessons in sustaining innovation-led growth. 4. Business and Government Investment Building digital infrastructure and … A major hurdle is the continuing stickiness of cash, which has not been displaced by digital alternatives despite myriad options. 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. How do countries accelerate their digital momentum. access to a mobile phone than to a toilet. Five months after the country demonetized 86% of its currency, cash withdrawals were actually 0.6% higher than a year earlier. The United States take the lead by far with a score of 87 out of 100. To stay ahead, these countries need to keep their innovation engines in top gear and generate new demand, failing which they risk stalling out. Chart. Every country and multinational needs to be sensitive to the map of digital momentum so that they can tailor their strategies accordingly. There are more mobile connections than people on the planet, and more people have access to a mobile phone than to a toilet. 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. Authors’ note: We are deeply grateful to Michaela Beck, Desmond Choong, Christina Filipovic, Yuwa Hedrick-Wong, Cassandra Pagan, Caroline Troein, Paul Trueman, and Christopher “Rusty” Tunnard, whose expertise, analyses, and insights have been essential for this research. 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. Stall Out countries enjoy a high state of digital advancement while exhibiting slowing momentum. 15. The least digitally advanced countries must allocate limited resources wisely. Break Out countries are low-scoring in their current states of digitalization but are evolving rapidly. 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. Digital Economy and Society Index 2020 (DESI) reports are based on 2019 data. This is the third edition of our ranking (a score from 0 = worst to 100 = best). country GDPs. Digital markets are uneven. 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. The United Kingdom is still included in the 2020 DESI, and EU averages are calculated for 28 Member States. Based on their stock prices on July 6, 2017, Apple, Alphabet, Microsoft, Amazon, and Facebook were the five most valuable companies in the world. We can expect to see plenty of investor and entrepreneurial interest in this region; it is critical that the political institutions are stable and supportive. Inclusive Internet Index, Euler Hermes’ Enabling Digitalization Index, and Dell Technologies’ Digital Transformation Index. Furthermore, we placed a focus on whether two structural features of developing countries, The five top scoring countries in the DEI 2017 ranking — Norway, Sweden, Switzerland, Denmark, and Finland — are all in the Stall Out zone, reflecting the challenges of sustaining growth. The United Kingdom is still included in the 2020 DESI, and EU averages are calculated for 28 Member States. Depending on a country’s level of digital evolution and economic advancement, there are different drivers that are primarily responsible for digital momentum. 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.. Upstream supply chain phase. DOES digitalization lead to a renaissance? of such companies whose businesses have attained the $1 billion of value benchmark—so-called unicorns. To use them you only need a citizen’s ID card. 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