Bangladesh scores lower in digital evolution index
Although the country's evolution from a physical past to the digital present is gaining momentum even amid the ongoing pandemic, the improvement still lags far behind other countries, according to a new global index.
As per Digital Intelligence Index, Bangladesh ranked 23rd out of 90 nations because of its momentum in digital evolution although it placed 83rd because of its current state in digital evolution.
The Fletcher Institution at Tufts University, together with Mastercard, yesterday unveiled this charting of progress economies have manufactured in advancing their digitalisation, fostering trust and integrating connectivity in to the lives of billions.
Mapping 95 % of the world's online population and drawing upon 12 years of info, an electronic Evolution scorecard measures 160 indicators in 90 economies across four major pillars: institutional environment, demand conditions, supply conditions and the capability for innovation and alter.
Building after earlier editions in 2014 and 2017, this year's index paints a picture of global digital production, sheds insight on key factors driving switch and momentum and unpacks what this signifies to get economies facing the issues of a worldwide pandemic and post-pandemic near future.
In line with the index, around Asia Pacific, Singapore, Hong Kong, South Korea and Chinese Taipei are among the many digitally dynamic economies. South Korea and Chinese Taipei include significantly outperformed the OECD expansion rate in the next quarter of the entire year amid the global lockdown.
These economies feature substantial levels of available talent, productive R&D collaboration around industry and academia, and a solid record of creating and bringing digital products in to the mainstream.
According to a written report titled "Digital in enough time of Covid", mid-sized nations such as Kenya, Vietnam, Bangladesh, Rwanda, and Argentina have already been using digital systems, with probable to leapfrog and change their economies.
These leapfrogs lead to ideal purpose models and benchmarks for all those in the "LOOK OUT" zone how to use the digital economy as a lever for transformation.
Bhaskar Chakravorti, the dean for global business at Fletcher, said the pandemic may be the purest test of the world's improvement towards digitalisation.
"We have a clearer view on how dynamic digital economies may donate to economic resiliency throughout a period of unparalleled global turmoil and will be positioned for recovery and transformation," he added.
With practically two thirds of the world's inhabitants online today, the universe is getting into an "after access" phase, where access alone isn't enough.
Aspects like the quality of gain access to, effective make use of digital systems, accountable institutions, robust info governance plans and fostering trust are actually greater factors in deciding digital competitiveness and sustainability, according to findings.
Young people on emerging economies are demonstrating huge levels of digital engagement, a bright spot for governments attempting to expand digitalisation within their economies.
The index also talks about "Digital Trust", which may be the bridge that connects its journey from the digital show a smart and inclusive digital future.
The Digital Trust scorecard measures 198 indicators in 42 of the index economies across four key pillars: behaviour, attitudes, environment, and experience.
Economies such as Singapore, Hong Kong, Chinese Taipei and South Korea provide residents with a around seamless encounter, delivering the ultimate goal of advanced infrastructure, broad access and unparalleled interaction.
This experience can be matched by high degrees of engagement, offering these economies a clear advantage in a "beyond access" future.
China, Indonesia and Vietnam contain more and more favourable attitudes about their digital future, buoyed by rapidly growing digital adoption and option.
Overall, digitally advanced economies with bigger levels of socio-economic collateral expressed more positive attitudes towards digital technology, while fast-moving "Break Outs" are more optimistic than their "LOOK OUT" peers, according to the index.
Ajay Bhalla, president for cyber & intelligence at Mastercard, said never before has there been such an acute have to understand the elements that get digitalisation and digital trust.
With that knowledge, businesses and governments could work together to help all 7.6 billion persons around the world take advantage of the vast opportunities a digitally advanced overall economy can bring.
"While much remains uncertain today, it is clear that digital accomplishment is a key setting up block in our collective recovery," Bhalla added.
Matthew Driver, executive vice president for services in Mastercard Asia Pacific, said Covid-19 has advanced digitalisation over the region by at least five years on as many months, only serving to further accelerate the advancement of the digital ecosystems over the region.
"With rising degrees of buyer trust and engagement and growing digitization in the small organization segment, all deeply reinforced by proactive enabling actions from governments, the chances in advance for the region's digital market are immense," this individual added.
The executive vice president continued to state that with Asia Pacific poised to recover quickly from the pandemic, the strong performance in both elements of Digital Evolution and Trust will only serve to help expand support Asia's leadership in the digital landscape.
