As the cost of devices and data plummet, India’s digital population is seeing a surge across many dimensions.Already, ________ (1.2 OR 1.5; Select ONLY one that applies) billion were enrolled in the world’s largest ___________ (data collection program, unique data identity program, OR surveillance system intitivative; Select ONLY one that applies) .Continued mass adoption of digital technologies is expected to have significant economic value to the Indian economy by 2025.Besides core digital services as well as financial services, India looks forward to seeing expanding digitalization transform industries such as ___________ (online shopping, agriculture, OR electronics ).Ultimately, as companies worldwide adopt and integrate new technologies, the ____________ (standards of happines, nature of work, OR ideals of Nirvana) is changing.In conclusion, it seems reasonable to infer that as more and more people become connected, to each other as well as to the grid, the opportunity frontier for all sorts of activities, from the profound to the prosaic will __________ (contract, stabilize, OR expand) and social media will likely benefit immensely. Major trends are reshapingbusiness and society, includingthe way we live and work.Here is a snapshot of 10 insights into theseshifts, based on 2019 research publishedby McKinsey Global Institute.A connectedworld in flux30 years of cross-border tradeflows have transformed the globaleconomy, but now they're movingin a new direction.Technology &the future of workDigital and frontier technologies like AI aresparking new opportunities, but they alsoraise questions about the future of work.Increasinglydigital IndiaAs the costs of devices and data plummet, India's digitalpopulation is seeing a surge across many dimensions.Digital adoption of Indian population:1.2 billionIndia no. 1 globallyenrolled in world's largestunique-digital-identity programIndia no. 2 globally(behind China)12.3 billion1.17 billion560 million354 million294 millionapp downloadsin 2018wireless phonesubscribersinternetsubscriberssmartphonedevicessocial mediausersContinued mass adoption of digital technologies is expected toadd significant economic value to the Indian economy by 2025.Potential value of different digital sectors 2025ECore digital servicesIT business process managementNewly digitizing sectorsFinancial services$250B$115B$170B<$1BCurrenteconomic valueMax potentialvalue by 2025Currenteconomic valueMax potentialvalue by 2025Core, well-digitized sectorsincluding IT and business processmanagement will continue to grow.Newly digitizing sectors likeagriculture and finance arepoised to expand.Source: McKinsey Global Institute, Digital India:Technology to transform a connected nationIndia's burgeoning digital population could make thenation one of the world's biggest consumer markets.Now, it's businesses' turn.As companies worldwide integrate newtechnologies, the nature of work is also changing.5New geography of workRegional labor markets in the United States are diverging.A small number of dynamic cities account for a growing shareof job growth. Below, we've highlighted just a few examples ofwhere potential net job growth could be highest.Potential net job growth5% - 10%>15%2017-2030, %*<-7%-7% - 0%0% - 5%High-growth hubSeattle, WARESmall powerhouseProvo, UTMegacityNew York, NYUrban peripheryArlington, VACollege-centric townChapel Hill, NCSilver cityThe Villages, FL*Mid-adoption scenarioSource: McKinsey Global Institute, The future of work in America:5% - 10%

The economies around the globe are involved in various economic, and financial activities, which are…

Answered: As the cost of devices and data…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

As the cost of devices and data plummet, India’s digital population is seeing a surge across many dimensions.

Already, ________ (1.2 OR 1.5; Select ONLY one that applies) billion were enrolled in the world’s largest ___________ (data collection program, unique data identity program, OR surveillance system intitivative; Select ONLY one that applies) .

Continued mass adoption of digital technologies is expected to have significant economic value to the Indian economy by 2025.

Besides core digital services as well as financial services, India looks forward to seeing expanding digitalization transform industries such as ___________ (online shopping, agriculture, OR electronics ).

Ultimately, as companies worldwide adopt and integrate new technologies, the ____________ (standards of happines, nature of work, OR ideals of Nirvana) is changing.

In conclusion, it seems reasonable to infer that as more and more people become connected, to each other as well as to the grid, the opportunity frontier for all sorts of activities, from the profound to the prosaic will __________ (contract, stabilize, OR expand) and social media will likely benefit immensely.

Major trends are reshaping
business and society, including
the way we live and work.
Here is a snapshot of 10 insights into these
shifts, based on 2019 research published
by McKinsey Global Institute.
A connected
world in flux
30 years of cross-border trade
flows have transformed the global
economy, but now they're moving
in a new direction.
Technology &
the future of work
Digital and frontier technologies like AI are
sparking new opportunities, but they also
raise questions about the future of work.
Increasingly
digital India
As the costs of devices and data plummet, India's digital
population is seeing a surge across many dimensions.
Digital adoption of Indian population:
1.2 billion
India no. 1 globally
enrolled in world's largest
unique-digital-identity program
India no. 2 globally
(behind China)
12.3 billion
1.17 billion
560 million
354 million
294 million
app downloads
in 2018
wireless phone
subscribers
internet
subscribers
smartphone
devices
social media
users
Continued mass adoption of digital technologies is expected to
add significant economic value to the Indian economy by 2025.
Potential value of different digital sectors 2025E
Core digital services
IT business process management
Newly digitizing sectors
Financial services
$250B
$115B
$170B
<$1B
Current
economic value
Max potential
value by 2025
Current
economic value
Max potential
value by 2025
Core, well-digitized sectors
including IT and business process
management will continue to grow.
Newly digitizing sectors like
agriculture and finance are
poised to expand.
Source: McKinsey Global Institute, Digital India:
Technology to transform a connected nation
India's burgeoning digital population could make the
nation one of the world's biggest consumer markets.
Now, it's businesses' turn.
As companies worldwide integrate new
technologies, the nature of work is also changing.
5
New geography of work
Regional labor markets in the United States are diverging.
A small number of dynamic cities account for a growing share
of job growth. Below, we've highlighted just a few examples of
where potential net job growth could be highest.
Potential net job growth
5% - 10%
>15%
2017-2030, %*
<-7%
-7% - 0%
0% - 5%
High-growth hub
Seattle, WA
RE
Small powerhouse
Provo, UT
Megacity
New York, NY
Urban periphery
Arlington, VA
College-centric town
Chapel Hill, NC
Silver city
The Villages, FL
*Mid-adoption scenario
Source: McKinsey Global Institute, The future of work in America:
5% - 10%

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.