Technology has driven global prosperity for centuries. Unfortunately, it has brought severe side effects. Some of today’s most pressing challenges have been partially caused by technology advances.
Consider three examples:
Over the last four decades, the world has witnessed an interesting new trend. Technologies have been invented and employed solely to make the world a better place. Entire industries have developed around clean energy such as wind and solar. In 2013, wind energy in the US avoided the use of an estimated 95.6 million tons of CO2 – the equivalent of 16.9 million cars on the road – estimates The American Wind Energy Association.
Nowadays, entire organizations exist aiming to make the world a better place. American car manufacturer Tesla’s main mission is “to accelerate the world’s transition to sustainable energy”. Its founder Elon Musk emphasizes that CO2 reduction is a key goal. He has built a loyal workforce excited to join his mission. Although other firms may be less bold in embracing sustainability, it has become common practice to create a Chief Sustainability Officer role, or to audit suppliers based on sustainability guidelines.
In September 2015, the UN General Assembly’s 194 countries adopted the 2030 Sustainable Development Agenda. It includes 17 sustainable development goals, which member countries can use to measure progress.
In this context, the vision of the World Economic Forum’s Digital Economy and Society System Initiative is ensuring our digital future is inclusive, trustworthy and sustainable too. The Internet of Things (IoT) is a key focus. It is one of the three most impactful technological advancements we will see before 2030, according to McKinsey. By 2025, the IoT’s economic impact will be around $11.1 trillion – 14% of today’s global GDP – the firm projects.