Digital transformation of the global economy
Digital transformation remains one of the key priorities of the global economy. The process includes not only the integration of new technologies and solutions into the operations and processes of companies and organizations, but also the adoption of new practices and types of management, re-distribution of responsibilities and powers, as well as interaction with external counterparties.
Gartner estimates that the total investments in IT infrastructure and technologies will reach 4.6 trillion US dollars in 2023.
It is also expected that in 2023 more than half of the world's GDP would be produced by companies and organizations that have undergone digital transformation.
In the short term only private investments in digital transformation will total 3.4 trillion US dollars.
According to some estimates, the global economic effect of the digital transformation of public administration can reach $1 trillion per year.
Digital transformation is a key priority for the public sector
The complexity of economic, social, political, demographic and other processes requires both new approaches to public administration, as well as new methods and technologies for analyzing and processing the information, creating a strategic vision and defining the priorities
Digitalization improves the quality of public administration and the accessibility of public services to the population. In addition, the digitalization of public authorities opens up opportunities for new types of services for the population
Digitalization increases the transparency of the decision-making process of public policy, which in turn enhances accountability and integrity of public administration
In the context of crises, in particular, the COVID-19 pandemic, environmental, social and geopolitical risks, digitalization enhances the ability of the public sector to make timely and informed decisions.