As the human and economic pain caused by the pandemic remains fresh for the most vulnerable in the Global South, geopolitical disruptions and environmental threats confront developing countries with an unprecedented combination of food, fuel, and finance crisis. Years of efforts towards the achievement of the Sustainable Development Goals are being lost.
Against this somber background, the Technology and Innovation Report 2023 argues that the wave of technological change unleashed by renewable and other green technologies opens new windows of opportunity for the Global South to build resilience against threats, grow stronger and more diversified economies and move to better development trajectories with a smaller burden for the environment.
The report covers seventeen frontier and green technologies, ranging from artificial intelligence and the Internet of things to green hydrogen and electric vehicles. It estimates that together, these technologies can grow from a market value of $1.5 trillion in 2020 to over $9.5 trillion by the end of the decade.
But unless developing countries take decisive action soon, most of the value generated in those booming markets will escape them.
The report examines possible national strategies and recommends a set of international support measures that can help prevent that outcome.
The report also includes a frontier technology readiness index that gives insights about specific actions that countries can take to perform better in the race to catch this wave of technological change.
