Title: Disruptive Technologies and the World Bank Group—Creating Opportunities—Mitigating Risks

Language: English

Type: Document

Nature: Report

Published: September 18, 2018

Region: Global

Country: Global / Non-Specific

Keywords: Age of Disruption

Document Link(s):

Document Summary:

A working paper ” prepared by the World Bank Group for the October 13, 2018 Development Committee Meeting.

Document Details:

Executive Summary:

  • Traditional pathways to overcome critical development challenges are increasingly subject to technology-based disruptions, creating new opportunities and new risks.
  • Disruptive technologies also pose new risks—to economic and societal inclusion, and to environmental and systemic sustainability.
  • Despite the risks, failing to take advantage of the opportunities that disruptive technologies offer could be even more costly.
  • The WBG will support countries to create the opportunities and mitigate the risks associated with disruptive technologies by operationalizing the Build-Boost-Broker value proposition.
  • Build—the WBG will ensure that countries can take advantage of the new pathways of growth by having the digital and physical infrastructure and enabling environment to compete across all sectors of tomorrow’s economy and the digital foundations to expand access to new opportunities.
  • In building the foundations for sustainable, inclusive technology-enabled economies, the WBG will scale up efforts toward universal, affordable digital connectivity.
  • Boost—the WBG will support the concerted efforts of governments, firms, and workers to adapt to technology-enabled disruptions and to thrive in the new economy.
  • To boost the capacity of institutions, individuals, societies, governments, and businesses to leverage technology-led disruption for socioeconomic dividends, the WBG will scale up efforts to support the development of skills and capabilities for the new economy and the provision of transparent, efficient, and accountable digital government services.
  • Broker—the WBG will provide “disruptive” leadership in the global search for technologyenabled solutions to intractable development challenges.
  • To operationalize the Build-Boost-Broker value proposition outlined here, the WBG will scale up its efforts under each of the 3 pillars and upgrade internal capabilities.
  • Shareholders can support the pursuit of the priorities proposed here by increasing their advocacy for the Build-Boost-Broker value proposition in their countries and regions and by supporting the WBG’s role in multilateral dialogues and in leveraging resources in the disruptive technology space.

Updated: March 30, 2024