Gadget

Tech giants must spread benefits of innovation

Across the world, countless digital divides between rich and poor nations are emerging, stoking stark developmental disparities and stymieing opportunities for cross-cultural collaborations. The IMF even suggests that technological progress is one of the main factors driving global inequality. It should be the opposite.

Meanwhile, Oxfam figures reveal that the richest 1% hoovered up a staggering 82% of all wealth created in 2017. The poorest half of humanity got nothing. This has a stark and detrimental impact on appropriate levels of connectivity, workforce skill levels, and R&D expansion, all of which can cumulatively and negatively hit global markets in the long term. These are particularly alarming consequences in the context of collectively dealings with major issues, such as climate change, global supply chain sustainability, or food and water supplies.

Today, the Internet is a basic human right, yet far too many regions are being cut out of the loop as cloud platforms and network infrastructures are being rolled out across developed economies. The divide between the ‘haves’ and the ‘have-nots’ is widening. Governments can, and indeed are to some extent, helping to mitigate the situation. However, tech leaders need to take more responsibility than ever before when it comes to developing nations and this can be achieved with innovation ecosystems that can benefit existing and nascent businesses.

Now is the time to better unite the tech industry and inspire concrete commitments that go well beyond short-term sponsorships, charity initiatives or perfunctory Corporate Social Responsibility (CSR) drives. At a minimum, all tech leaders should consider the following:

A charter for change

We can’t stand idle on the side-lines anymore. Technological innovation and development should be synonymous with helping the less fortunate. Ultimately, it is the tech companies that can powerfully back up strong values with substantive resources and decisive action that will be viewed as tomorrow’s true pioneers. Aside from the obvious ethical imperatives, it just makes good business sense.

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