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Data improves life From World development report 2021

The following is the Data improves life From World development report 2021 recommended by recordtrend.com. And this article belongs to the classification: global economy , research report.

Data is increasingly becoming an indispensable part of the daily life of most people around the world, and the number of data is also growing at an unprecedented rate. But what does that mean for more than 700 million people living in abject poverty? Is the explosion of new data types and applications improving their lives? Or will poor and poor countries be left behind, leading to a growing gap between those who benefit and those who don’t?

Innovation through the creative use of new data may be one of the most far-reaching events in contemporary life. Like the invention of steam engine, the discovery of electric power and other general technologies, the changes brought by the data revolution involve all aspects of society and economy. But this comprehensive change will not happen automatically. Steam engines and electricity boost productivity decades after the advent of related technologies. The reason for this delay is not that people do not realize the important value of these innovations (everyone will realize it sooner or later), but that the production system needed to put these innovations into use and realize their economic potential cannot be formed overnight. Electricity itself can’t bring economic development. Similarly, data itself can’t improve people’s lives. Data can bring improvement in all aspects of social and economic fields, but the premise is the systematic use of data, so as to create useful information and form insights that help to improve people’s lives.

This report aims to answer two basic questions. First of all, how to better promote the development goals through data? Second, what data governance arrangements need to be made to support the safe, ethical, and reliable generation and use of data, while making it equally beneficial to all?

An important message of this report is that collecting more data alone will not solve the problem. Serious data gaps do exist, especially in poor countries, but the focus of this report is on how to use data more effectively to improve development outcomes, especially for the poor in poor countries.

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