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Technology and Innovation Report 2021: UNCTAD
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- India did well: India was the biggest ‘overperformer’ in frontier technologies than the country's per capita Gross Domestic Products (GDP) would suggest, according to a recent country-readiness index of the Technology And Innovation Report 2021. The report was released by the United Nations Conference on Trade and Development (UNCTAD).
- Points to note: The report examines the likelihood of frontier technologies widening existing inequalities and creating new ones. It also addresses the national and international policies, instruments and institutional reforms that are needed to create a more equal world of opportunity for all, leaving no one behind.
- Frontier Tech Market - The report shows that frontier technologies already represent a USD 350 billion market, which could grow to USD 3.2 trillion by 2025.
- International Cooperation - It calls for strengthened international cooperation to build innovation capacities in developing countries, facilitate technology transfer.
- Inclusive - Envisages increase women’s participation in digital sectors, conduct technological assessments and promote an inclusive debate on the impact of frontier technologies on sustainable development.
- Humans and Machines at Work - Technological change affects inequalities through its impact on jobs, wages and profits in following ways:
- Automation taking jobs - Job displacement can also be accompanied by job polarization, which refers to an expansion in high- and low-wage jobs combined with a contraction in middle-wage jobs. Frontier technologies are being used to provide services via digital platforms that have spurred the creation of a ‘gig economy’.
- India specific findings: India’s actual index ranking is 43, while the estimated one based on per capita income is 108. So India overperformed other countries by 65 ranking positions. India was followed by the Philippines, which overperformed by 57 ranking positions. It did well in research and development, reflected in its abundant supplies of qualified and highly skilled human resources available at a comparatively low cost. But countries such as the United States, Switzerland and the United Kingdom were “best prepared” for frontier technologies.
- Challenges for Developing Countries:
- Demographic Changes: Low-income- and lower-middle-income countries have expanding and younger populations which will increase the supply of labour and depress wages, reducing the incentives for automation.
- Lower Technological and Innovation Capabilities: Low-income countries have fewer skilled people and depend to a large extent on agriculture which tends to be slower to take advantage of new technologies.
- Slow Diversification: Developing countries typically innovate by emulating industrialized countries, diversifying their economies, and absorbing and adapting new technologies for local use, but this process is slowest in the poorest countries.
- Weak Financing Mechanisms: Most developing countries have increased their R&D expenditures, but these are still relatively low. There is very little private funding of industrial technologies for productive applications.
- Intellectual Property Rights and Technology Transfer: Stringent intellectual property protection will restrict the use of frontier technologies that could be valuable in SDGs related areas such as agriculture, health and energy.
- Suggestions: The Report argues that frontier technologies are essential for sustainable development, but they also could accentuate initial inequalities. It is up to policies to reduce this risk and make frontier technologies contribute to increasing equality. A balanced approach building a robust industrial base and promoting frontier technologies is a must for success in the twenty-first century.
- Frontier Technologies: These are defined as potentially disruptive technologies that can address large-scale challenges or opportunities. They include artificial intelligence (AI), the internet of things, big data, blockchain, 5G, 3D printing, robotics, drones, gene editing, nanotechnology and solar photovoltaic.
- UNCTAD: The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 to promote development-friendly integration of developing countries into the world economy. It is a permanent intergovernmental body headquartered at Geneva in Switzerland. Some of the reports published by it are: Trade and Development Report, World Investment Report, The Least Developed Countries Report, Information and Economy Report, Technology and Innovation Report, and Commodities and Development Report.
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