The impact of digital technologies on the global economy is significant and can add $59 billion in Pakistan’s annual economic value by 2030. The country must embrace these technologies to remain competitive.
Digital technologies can add $59 billion in Pakistan’s annual economic value by 2030. The “pwc ai report 2020” is a report that was published by PricewaterhouseCoopers for the World Economic Forum.
Release of Information According to a recent analysis commissioned by Google, digital transformation may help Pakistan unleash up to Rs.9.7 trillion (59.7 billion USD) in annual economic value by 2030, comparable to nearly 19 percent of the country’s GDP in 2020.
The research, Unlocking Pakistan’s Digital Potential, unveiled during a recent Google/[email protected] online event, shows that Pakistan has a booming digital economy. Since 2010, the nation has fostered over 700 digital start-ups, employing over 300,000 IT workers and producing over 25,000 IT graduates yearly.
Since 2020, technology exports have increased by 15% per year and are predicted to reach USD3.5 billion (Rs. 610,750,000,000) in 2022. Pakistan’s online population is quickly increasing, with the internet penetration rate expected to reach 54 percent by 2021.
Despite its tremendous advances, Pakistan still has a long way to go in its digital transformation. The paper, written by AlphaBeta economists, suggests three primary pillars of action Pakistan may take to achieve the anticipated development potential. This involves building infrastructure to assist the local tech ecosystem, maintaining a favorable climate for IT export, and encouraging the country’s creativity and digital skills.
There are eight essential technologies with considerable economic significance for Pakistan that have the ability to alter companies and employees. Mobile internet, cloud computing, big data, AI, finance, IoT and remote sensing, sophisticated robotics, and additive manufacturing are just a few examples.
Despite the obstacles created by the epidemic, Farhan Qureshi, Google’s Regional Director for Pakistan, Bangladesh, and Sri Lanka, thinks that Pakistan’s digital economy has a bright future.
To address the long-term consequences of the COVID-19 epidemic and to establish long-term resilience and prosperity, Pakistan has to embrace digital transformation. At Google, we want to assist Pakistanis by providing them with useful goods and resources, as well as digital know-how and online safety abilities. We will continue to collaborate with partners like [email protected] and different government organizations in the future to help realize the Digital Pakistan Vision.
— the Country Director said.
Mr. President, President of the Islamic Republic of Pakistan, Dr. Arif Alvi, said
I was thrilled to see that AlphaBeta estimates that digital transformation in Pakistan might provide Rs. 9.7 trillion in yearly economic value by 2030. Realizing this aim and the Digital Pakistan vision would need a national effort from both the public and business sectors. The actions of organizations such as Google and [email protected] will be crucial. It is encouraging to learn that, according to AlphaBeta’s analysis, Google’s products support over 410,000 employment in Pakistan’s economy.
Chairman of Pakistan Software Houses Association ([email protected]) for IT & IT-enabled Services (ITeS), Badar Khushnood, also stated,
[email protected] has been in the forefront of the #DigitalPakistan movement, representing hundreds of IT enterprises. Over the past several years, our industry has seen record-breaking growth, and we seek to take it to the next level. [email protected] aspires to maximize the potential of Pakistan’s IT and ITeS industries from all angles! We concentrate on driving the industry narrative to remain loyal to our mission. [email protected] initiatives have had a substantial influence over the previous two decades, from legislative lobbying to ecosystem enabling to in-depth research and insights.”
He went on to say:
[email protected] continues to collaborate closely with key public and private sector players to not only boost software and services exports but also accelerate digital transformation in domestic industries. The partnership between Google and [email protected] is growing, and we look forward to building on this win-win synergy for Pakistan’s brighter and more dynamic digital environment.
Krinza Momin, former GDSC Lead and Junior Data Scientist at Afiniti, also spoke at the event regarding the Pakistan developer community.
I’m delighted that we have platforms like Google Developer Student Clubs, Google Developer Groups, Women Techmakers, and Google Developer Experts to be a part of with the efforts that Google is putting in for Pakistan. These initiatives allowed myself and many others to speak with industry professionals in Pakistan and throughout the globe, opening up global learning opportunities for us. Pakistan can properly position itself around startups and innovation to promote economic growth, and events like this one organized by [email protected] and Google get us closer to that goal.
Qureshi went on to say,
Digital transformation must be inclusive in order to be successful. It is critical that underrepresented populations and disadvantaged groups have access to digital training opportunities. We recently began a pilot program with the National Rural Support Programme to provide more Pakistanis with internet safety and digital literacy skills, and in only two months, we reached over 1,000 pupils. Over 5,500 SMEs have been taught on how to use digital technologies to assist the growth of a digitally savvy workforce as part of our Grow with Google initiative.
The whole report from AlphaBeta may be downloaded from their website.
This article is based on a corporate press release and does not represent the company’s viewpoint or advice.
Digital technologies are expected to add $59 billion in Pakistan’s annual economic value by 2030. Artificial intelligence spending by country is the highest in China and the United States. Reference: artificial intelligence spending by country.
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