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World of "Techno-Politics" (Massive expansion in digital data…
World of "Techno-Politics"
Rising inequality
Populism and discontent with “establishment” institutions (governments, large businesses)
Technology empowers a wide range of people to act on their disaffection, challenging the state
Social media connects like-minded people, facilitates cyber-activism
Companies face greater reputational risks from the rapid spread of misinformation
Cyberspace opens new opportunities for cross-border criminal enterprise, such as phishing
Emerging technologies alter geopolitics by opening new possibilities in warfare
Weaponization of drones, robotics and AI make governments more willing to intervene in their development and use for business
Rising economic nationalism
Governments seek to enforce geographic borders
Stricter state control over the cross-border flow of data and information
More countries enact data privacy laws
Increasingly difficult to run a global business that relies on the free flow of data and digital technology
Higher operational and compliance costs
Compromised ability to provide data analytics and cloud services across markets
Companies reassess their geographic footprint or reallocate investments across markets
Opportunities for companies to pursue a “multi-domestic” strategy
Opportunities for those seeking to develop new partnerships–for example, with local firms–that deepen their understanding of local markets
More trade restrictions
Companies face greater challenges attracting and retaining talent
Massive expansion in digital data
Advancing technology continues to cause industries to converge
Constraints inherent in data nationalism slow the pace of innovation in industries that rely on exchanging data
Personalized health care
Connected cars
Smart homes
Growing ability of technology to connect the world
Outsourcing and labor-saving technologies increase income inequality
Negative reaction to multi-national employees
Formerly privileged sectors feel marginalized
Firms may benefit from developing new technology, products, services and business models that are demonstrably socially beneficial
Governments introduce new restrictions on the nationality of employees
Companies face greater challenges attracting and retaining talent
Awareness of different pay levels offered in different locations undermines employee morale and productivity
Communications technology makes it easier for people to compare their situations with others around the globe