Global digital economy estimated to worth US$11.5 trillion – Ursula

Minister for Communications and Digitalisation, Ursula Owusu-Ekuful, has elaborated on extant research which estimates the value of global digital economy to be US$11.5 trillion, equivalent to 15.5% of global Gross KKD Domestic Product (GDP).

Mrs. Owusu-Ekuful speaking at the 14th ITU Kaleidoscope Conference at the National Communications Authority, discussed on the enormous potential impact of XR on the global economy.

“A recent PwC report finds that VR and AR have the potential to deliver a US$11.5 trillion boost to the global economy by 2030.

“What used to be fiction is now becoming reality. It is amazing how we can use these emerging technologies to enhance our socioeconomic advances today. Immersing technologies remain a need and are not as widespread as they could be even in advanced side” she said.

According to her, the government of Ghana is putting in its best to develop a digital economic policy to improve global advancement.

“We know that digital economies provide unique opportunities for countries to accelerate economic growth and connect citizens to services and jobs” she added.

Emerging Technologies

Touching on the benefit of digital economies, Mrs. Owusu-Ekuful indicated that, digital economies provide unique opportunities for countries to accelerate economic growth and connect citizens to services and jobs.

“The effectiveness of a country’s digital transformation agenda is blinkered by clearly defined digital policy to constructing. You can’t develop digitally in an ad hoc manner, and so mindful of that, Ghana through the Ministry of Communications and Digitalization is currently in the process of developing a digital economic policy.

“The draft policy is hinged on five things which includes; digital government, data and merging technologies, digital skills, universal access and connectivity, and digital entrepreneurship.”

According to her, technologies such as Artificial Intelligence (AI) are driving the global digital revolution and contributing to resolving developmental challenges in some emerging economies.

However, she stated that, Ghana has become a fertile ground for data science research and development with the entry of AI labs and google.

“We must develop a careful approach to the development of XR in Africa, particularly considering the interdependence in technology such as AI for software algorithms, connectivity, video standard and visualization. This careful approach will include appropriate digital structure, policies and programs to create a conducive setting for the development of talent, research, accessibility, connectivity, and criticism infrastructure” she indicated.