Over the course of just two decades, digital technologies have reached about 50% of the developing world’s population, revolutionizing society and advancing faster than any other innovation in human history. Technology can significantly increase equality through improving financial inclusion, trade accessibility, connectivity, and public service delivery.
As a result, the market for these high-tech businesses has expanded tremendously in terms of reach and geographic distribution as well as the sheer number of businesses to which they may sell. The firms’ ability to create marketing and sales strategies, contact customers worldwide, compete and set themselves apart, and provide support for this large customer base have all been impacted by this shift in scale. These all lead to the requirement for new business models.
Those who are not connected, however, continue to lag behind and are cut off from the advantages of this new century. Many of those left behind are women, the elderly, individuals with disabilities, members of indigenous groups, people from linguistic or ethnic minorities, and people who live in underdeveloped or isolated locations. In certain groups, the rate of connection is decreasing, if not reversed. For instance, worldwide, women use the internet at a rate that is 12% lower than that of men. Although this disparity shrank in the majority of regions between 2013 and 2017, it increased from 30% to 33% in the least developed nations. As technology permeates all industries, it is essential to comprehend its diverse uses. Through the application of our own in-depth domain knowledge, we have collaborated with semiconductor vendors to assist them in better understanding the use cases.
For high-tech businesses, the increasingly digitalized world presents both a plethora of new opportunities and obstacles. Effectively adjusting to the shifting dynamics will be crucial.
