Frontier’s Public Policy team contributed to a new report by Accenture, ‘Business Futures 2021’, aimed at identifying signals of business change that are critical for organisations to understand and shape a successful future.
Frontier’s analysis for Accenture focused on producing estimates of the potential impact of digital technology on international trade and innovation. We found that there is significant potential for digital technology to boost economic growth by:
- Reducing the effective distance between trade partners, for example thanks to machine translation removing language barriers to trade;
- Accelerating the discovery and testing of new ideas, for example through autonomous discovery of new materials using Artificial Intelligence.
Effects on innovation alone could add 0.33 percentage points, on average, to the GDP growth rate in 2030 for the ten economies studied—equal to US$276 billion in additional economic growth, at 2019 price levels.
You can read the full report here.
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