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Global Perspective

Global Perspective: Emerging markets are starting to unlock the wide-ranging benefits of artificial intelligence

The development and implementation of artificial intelligence (AI) – a term that was originally coined in 1955 to describe a nascent sub-discipline of computer science – is anticipated to reshape economies across the world over the coming decades. AI refers to a set of technologies and tools that allow users to make better decisions through algorithms, using information that is recorded en masse…
Global Perspective

Global Perspective: Updating ways of teaching to ensure that people have the right skill sets to leverage emerging technologies

As the Fourth Industrial Revolution (4IR) gains pace, labour markets must adapt to meet the changing needs of the communities and economies they serve. Policy and business models are evolving in order to leverage disruptive technology – including artificial intelligence (AI) – and benefit from enhanced connectivity and productivity. A shift in education will be key to ensuring that populations…
Global Perspective

Global Perspective: Public initiatives and rising foreign investment are supporting the emergence of a dynamic medical tourism industry

Medical tourism is on the rise across the world, driven by the increasing cost of health care services in many developed economies, coupled with falling costs for international travel. The global market was valued at $16.8bn in 2018 and at the time was expected to grow to $27.2bn by 2024. While disruptions to international travel triggered by the global spread of Covid-19 in early 2020 could delay…
Global Perspective

Global Perspective: A new proposed digital currency is pushing central banks to respond to technological disruptions

The first cryptocurrency transaction in history was feted in just two words: “Running Bitcoin”, which came in the form of a tweet on January 11, 2009 by Hal Finney, a US software developer. Some 10 years and over 1600 initial coin offerings later, the world of crypto-, virtual and other digital currencies looks to have provoked an active response from financial sector leaders. However, this was…
Global Perspective

Global Perspective: Health tech start-ups are finding effective solutions to persistent problems and expanding access in remote areas

With demand for health care on the rise across the developing world and many governments struggling to keep pace with the changing needs of their populations, a new generation of health tech start-ups is entering the market. Harnessing the possibilities brought about by the digital revolution – notably the expansion of mobile phone penetration, but also emerging disruptive technologies such as artificial…
Global Perspective

Global Perspective: New data-driven technologies to revolutionise the construction sectors of emerging countries worldwide

Around 55% of the world’s population – or 4.2bn people – lived in urban areas in 2018, up from 47% in 2000, according to the UN. Because of the rapid rate of urbanisation, this figure is expected to reach 68% by 2050, with growth concentrated in Latin America, the Middle East and North Africa (MENA), sub-Saharan Africa and Asia. The shift towards the cities put the onus on the construction sector…
Global Perspective

Global Perspective: Growing competition in the automated consultancy market leads to further consolidation, innovation and investment

The use of sophisticated algorithms in wealth management is leading to improved efficiency and transparency in the financial services sector, benefitting both providers and clients. In particular, so-called robo-advisers are disrupting the industry and helping to boost financial inclusion. Primarily concentrated in developed markets such as the US and the UK, the technology is starting to make inroads…
Global Perspective

Global Perspective: To meet increasing demand for power and expand access in underserved regions, governments must choose whether to invest in traditional or new sources of energy

The duel aims of rapidly reducing greenhouse gas emissions and providing greater access to energy for underserved regions of the world are proving to be a complex challenge in need of innovative solutions and major investment.Repeated warnings from scientists regarding the economic and environmental consequences of unabated carbon emissions have seen the topic of climate change increasingly appear…
Global Perspective

Global Perspective: Efficiency and safety in mining is catching up to other sectors with digitalisation

Companies in the mining sector have traditionally been slow to adopt new technologies due to the scale and complexity of their operations, as well as the hefty costs that come with change.The uptake of digital tools and solutions has consequently been limited. However, challenging market conditions – driven by weak global demand for certain minerals and persistent excess capacity – are pushing…
Global Perspective

Global Perspective: The question of debt management is a key concern, particularly for countries with large external finance requirements

Fiscal policy was at the top of the agenda at the IMF Annual Meeting held in Washington, DC in October 2019, which was attended by finance ministers, central bank governors and private sector executives from around the world. The event provided an opportunity for member countries to issue statements outlining their opinions on the global economic landscape, which are of considerable interest to the…