Question

impacts of digitalization

Answer 1

Digital transformation is generating a fierce debate among policy-makers, economists and industry leaders about its societalimpact. As digitalizationdisrupts society ever more profoundly, concern is growing about how it is affecting issues such as jobs, wages, inequality, health, resource efficiency and security.


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Answer 2

Employment and skills

Current estimates of global job losses due to digitalization range from 2 million to 2 billion by 2030. There is great uncertainty, with concerns also about its impact on wages and working conditions.

Environmental sustainability

The historic trend holds that for every 1% increase in global GDP, CO2e emissions have risen by approximately 0.5% and resource intensity by 0.4%.¹ Current business practices will contribute to a global gap of 8 billion tonnes between the supply and demand of natural resources by 2030, translating to $4.5 trillion of lost economic growth by 2030.²

Trust

Social media, radio frequency identification (RFID) tags and user-generated websites such as TripAdvisor have been instrumental in increasing transparency and overcoming information asymmetries. However, according to the Edelman Trust Barometer, trust in all technology-based sectors declined in 2015, with concerns over data privacy and security a key factor. Broader ethical questions about the way organizations use digital technology also threaten to erode trust in those institutions.