More than a million babies die each year on the day of their birth. Those lucky enough to survive enter into a world of stark contrasts, full of promising opportunities, but also one of exploding prosperity gaps. An individual’s success in life is no longer dependent upon where she is born. What may matter even more is whether she is born into an information rich or information poor culture.
As a driving force for individual empowerment, the ubiquity and access to information through Internet connectivity and mobile devices have uplifted entire societies, created billions of new consumers, and challenged repressive governments. The economic impact of some of these emerging information technologies could range from $10 trillion to $20 trillion annually in 2025.
But serious gaps still remain. More than 1.4 billion people live in poverty so extreme that they can barely survive, and around 25,000 people die from hunger each day. In contrast, a new billionaire is created every second day. The three richest people in the world control more wealth than all 600 million people living in the world's poorest countries. If left unchecked, a new digital caste system emerging between information-haves and have-nots is likely to further exacerbate the global inequality gap.
To break through this impasse, a new “creative economy” is taking shape. This new engine for growth in this economy is powered by unleashing of human potential everywhere. Individuals, business and government draw upon the knowledge, experience and imagination of people across the globe to solve the world’s biggest problems by developing innovative solutions that were previously inconceivable. “Big-data”, combined with the transformational power of social, mobile and cloud technologies provide the speed and simplicity necessary to do so at massive scale. As a result, information becomes the new independence platform, and knowledge is the ultimate currency.
To achieve this future state, the role of business must be extended beyond profit maximization, to also improve the lives of people they touch through their products and services. Government in turn can do its part by creating new information policies to fuel entrepreneurship and better engage
citizens.
Fortunately, a growing number of pioneers are already showing the way. I believe these five imperatives from global leaders will help shape the new creative economy and help the world run better:
Today, less than 1% of available data has been analyzed. Already we’re seeing benefits in how this analysis, accelerated with revolutionary new technology, is improving the treatment of diseaseslike cancer, providing new insights into consumers, supercharging... Imagine the possibilities when we’re able to tap into other 99%.
Newborns are entering into a spectacular world of possibilities. Let’s not leave their future to chance. It’s time for us to act.
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