Innovation and the digital economy

Governments in many countries are increasingly aware of the importance of harnessing the benefits of the digital economy for innovation, growth and social prosperity. This awareness comes as the cost of data collection, storage and processing continues to decline dramatically and computing power increases, social and economic activities are increasingly migrating to the Internet. Technologies, smart applications and other innovations in the digital economy can improve services and help address policy challenges in a wide range of areas, including health, agriculture, public governance, tax, transport, education, and the environment, among others. Indeed, information and communication technologies (ICTs) contribute not just to innovation in products, but also to innovation in processes and organisational arrangements.