Change is the only constant and the world is changing at a very fast pace. Especially, the last 150 years have seen the most significant changes in the world. Electric Lighting, Cars, Telephone, Television are all less than 150 years old and newer innovations like the Internet and AI are creating bigger ripples of change.
Technology and AI are set out to change the global economy like ever. In the coming few years, automation of skilled jobs will bring about many changes in how the economy of a country gets shaped. And it’s very important for the nations around the world to be ready for these technological changes, but the question remains, is every nation truly ready?
Using the World Economic Forum’s recently released Global Competitiveness Survey and in particular the section that focuses on ‘Future Orientation of Government, there are certain indicators which tell us about the preparedness of nations towards these inevitable changes.
How fast is the legal framework of your country in adapting to digital business models?
To what extent does the government ensure a stable policy environment for doing business?
To what extent does the government respond effectively to change?
To what extent does the government have a long-term vision in place?
Each category is given a score from one to seven, with seven being the highest reading. These are then collated into a single score. Basis of this study here is a look at the countries that are the most prepared for the technological advancement world is pacing up to