The world experiencing the rapid spreading of widespread Digital technology is widespread. At the moment, more people have access to a mobile phone than to a toilet while there are more mobile connections than people on the planet.
The internet is leaderless and as such cross-border flows of digitally transmitted data have grown exponentiallt accounting for more than one-third of the increase in global GDP in 2014. In the other hand cross border capital and free low of goods and services have nosedived in the aftermath of the 2008 recession.
The five most valuable companies in the world are currently the tech giants Apple, Alphabet, Microsoft, Amazon, and Facebook. This is based on their stock prices as at July 6, 2017, most valuable non-American company, 7th overall, was China’s e-commerce giant, Alibaba Group.
Automation, big data, and artificial intelligence enabled by the application of digital technologies have been predicted as a factor that could affect 50% of the world economy. Stakeholder are experiencing both anticipation and apprehension about what lies on the other side of the threshold of the “second machine age.” More than 1 billion jobs and $14.6 trillion in wages are automatable by today’s technology, which could open the door to new ways to harness human energy as well as to displacing routine jobs and increasing social inequities.
Kenya is among the Break Out countries that have the potential to become the Stand Out countries of the future. Others include with China, Malaysia, Bolivia, and Russia and they are leading the pack. While the two largest Africa economies, Nigeria and South Africa, remain in Break Out and Watch Out zones, respectively, digitally savvy Kenya has picked up an impressive level of momentum by assembling a thriving ecosystem. In parallel, countries in Latin America can learn some lessons from smaller, faster-moving countries, such as Colombia and Bolivia.