The value of global digital economy is worth US$11.5 trillion - Ursula

Minister for Communications and Digitalisation, Ursula Owusu-Ekuful, has said that extant research estimates the value of global digital economy to be US$11.5 trillion, equivalent to 15.5% of global GDP.

Speaking at the 14th ITU Kaleidoscope Conference on Wednesday, December 7, 2022 at the National Communications Authority, Ursula Owusu-Ekuful said, “We all are aware and agree on the enormous potential impact of XR on the global economy.”

“A recent PwC report finds that VR and AR have the potential to deliver a US$1.5 trillion boost to the global economy by 2030.”

According to her, “What used to be fiction is now becoming reality. It is amazing how we can use this emerging technologies to enhance our socioeconomic advances today. Immersing technologies remain a need and are not as widespread as they could be even in advanced side.”

The minister said government is making efforts to develop a digital economic policy to improve global advancement.

“We know that digital economies provide unique opportunities for countries to accelerate economic growth and connect citizens to services and jobs.”

Digital Economy

She said digital economies provide unique opportunities for countries to accelerate economic growth and connect citizens to services and jobs.

“The effectiveness of a country’s digital transformation agenda is unblinkered by clearly defined digital policy to constructing.”

“You can’t develop digitally in an ad hoc manner, and so mindful of that, Ghana through the Ministry of Communications and Digitalisation is currently in the process of developing a digital economic policy. The draft policy is hinged on five things which includes; digital government, data and merging technologies, digital skills, universal access and connectivity, and digital entrepreneurship,” the minister said.

She added: “Technologies such as Artificial Intelligence (AI) are driving the global digital revolution and contributing to resolving developmental challenges in some emerging economies,” she revealed.

She, however, said Ghana has become a fertile ground for data science research and development with the entry of AI labs and google.

“We must develop a careful approach to the development of XR in Africa, particularly considering the interdependence in technology such as AI for software algorithms, connectivity, video standard and visualization.”

“This careful approach will include appropriate digital structure, policies and programs to create a conducive setting for the development of talent, research, accessibility, connectivity, and criticism infrastructure,” she said.