With technology bringing unprecedented change and transforming the economy, businesses and communities, the report ‘Brave New World? Ensuring an inclusive digital revolution’ explores the opportunities and challenges presented by an increasingly digitalised world. In this report, we explore how businesses can ensure that digital transformation is sustainable and inclusive, protects the planet, and incudes people from all walks of life.
The report, which is available to download now, was launched as part of Business in the Community’s AGM And Leadership Summit event in Westminster, London, which saw 350 business leaders, in the presence of HRH The Prince of Wales, gather to explore what responsible business in a digital age means for society.
It highlights that while the transition to a digital economy represents a ‘never seen before’ opportunity to tackle environmental and social issues, drive growth and prosperity it also presents challenges to society, communities, businesses and individuals which must be addressed.
Key findings include:
Digital transformation has the potential to drive economic growth, tackle disadvantage and improve lives – and the UK is especially well positioned to benefit from its potential.
Dynamic digital industries are growing 32% faster than the rest of the UK’s economy.
The UK is the most successful country in Europe at creating high value, multi-million pound valued technology start-ups or ‘unicorns’.
There are 1.56 million jobs in the UK’s digital economy with new jobs growing 3x faster than the wider economy and digital jobs paying 36% more than the UK average.
Technology could reduce food waste by 20% by 2030, reduce water waste by 12% and create societal benefit worth £222 billion by 2025.
However - the benefits of digital transformation will only be sustainable if some big challenges are addressed.
Building skills so everyone in the workforce can participate in the changing workplace being driven by the digital economy
Using data ethically and for the greater good
Tackling the environmental footprint of digital
Unequal access to digital technology and its benefits
Pressures on people and places
Business has a significant role to make digital revolution truly inclusive. The report identifies three areas where the corporate sector working collaboratively could have a significant impact on this aim.
Enabling the rapid transition from traditional jobs to the high-quality jobs of the future.
Using digital technology ethically to enhance transparency of business practices and build trust with consumers.
Use digital technology to create radically different business models which tackle societal and environmental issues.
Speaking at the event, in her first formal speech for the organisation, Amanda Mackenzie OBE, Chief Executive, Business in the Community asked delegates to “think responsibly” about the “inexorable advancement of new technology” and collaborate saying “no one group alone can tackle the issues emerging from digital revolution, business has a pivotal role to play that could be transformative for everyone.”
Expanding on the theme expressed throughout the event that the future of digital is human, Amanda Mackenzie urged business to “be courageous, principled and above all human” in its response to the challenges facing society and the most disadvantaged.
Business in the Community believes that ensuring an inclusive digital revolution requires the responsible business movement to work in collaboration to ensure that the transformation creates social and environmental good. This reports marks the beginning of a year long programme of events and activities which will harness the power and passion of business to identify practical ways to take action.
In April 2017 as Part of Responsible Business Week Business in the Community and Accenture will publish a second report, setting out the new ‘to do list’ – a set of practical actions business should take to ensure digital revolution is inclusive.
For further information, or to get involved in this programme please contact:
Marketing Partnerships Manager
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