Our analysis revealed common challenges across the five Fourth Industrial Revolution technologies we focused on: artificial intelligence (AI); mobility (including autonomous vehicles); blockchain; drones; and the internet of things (IoT). These challenges include a lack of regulation, misuse of technology and challenges in addressing crossborder differences. For instance, one estimate suggests that bitcoin accounts for more than 90% of ransomware payments. And the lack of effective regulation of facial recognition technologies coupled with incidents of misuse by law enforcement agencies have caused a backlash against this technology throughout the world.
The global COVID-19 pandemic has made this abundantly clear. COVID-19 has highlighted the essential role the internet of things (IoT) has come to play in our lives. IoT applications such as connected thermal cameras, contact tracing devices and health-monitoring wearables are providing critical data needed to help fight the disease. while temperature sensors and parcel tracking will help ensure that sensitive COVID-19 vaccines are distributed safely.
The analysis presented in the Global Competitiveness Report Special Edition 2020 (herein: “report”) is based on a methodology integrating the latest statistics from international organizations and a survey of executives. The methodology, developed in collaboration with leading experts and practitioners through a three-year consultative process, is designed to support countries to identify relevant policies and practices. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the World Economic Forum.