Global digital transformation calls for smart, inclusive and forward looking ICT regulation

To achieve a Global Digital Transformation there is need for smart inclusive and forward looking ICT Regulation. This was the key take away from this year’s Global Symposium for Regulators that took place in Nassau, Bahamas from 11-14 July 2017.

The forum also saw the International Telecommunication Union (ITU) launch the first-ever global report tracking market and regulatory trends in the ICT sector and their implications across economies, Global ICT Regulatory Outlook 2017.This ICT industry outlook report represents the first in a planned annual series. It tracks how the global digital economy has been shaping up over the past ten years – what impact regulation has had – and what the digital future might look like in the coming years.

The report highlights seven important global ICT trends, seven regulatory trends, and ends with seven predictions on where regulation will go in the coming months and years.

“The Global ICT Regulatory Outlook 2017 report is a key resource on smart, inclusive and forward-looking ICT regulation,” said Houlin Zhao, ITU Secretary-General in a press statement “Its findings provide useful guidance in reviewing and upgrading regulatory frameworks for the ICT sector as a basis to widening the digital economy and more importantly reaching out to the more than 3.9 billion people worldwide who remain unconnected.”

“The Global ICT Regulatory Outlook 2017 is unique in that it summarizes information that is relevant to regulatory bodies, operators, service providers and consumers worldwide,” said Brahima Sanou, Director of the ITU Telecommunication Development Bureau. “I am confident the report will become an invaluable tool that enables different stakeholders to navigate through rapidly evolving technologies, business models and market structures.”

Some of the Key facts in the report include:

Presents big picture of world’s digital economy

The report tracks the world’s digital economy since 2007 – and reports with authority on what impact regulation has had. It also makes well-informed predictions on what the digital future might look like in the coming years and on the opportunity regulators now have to help shape balanced markets that benefit all.

The report points to a bright digital future but underlines that more countries will need to embrace Generation 5 regulation – an open, collaborative, incentive-based and cross-sectoral approach – to make this bright future a reality.

Unique, authoritative, global

The report is global in scope, drawing on up-to-date input on ICT markets and regulation, from more than 186 countries. It draws on high-quality market and regulatory data captured in ITU’s ICT Regulatory Tracker since 2007. The report transforms complexity into clear analysis and commentary, telling a unique story about regulatory change, its impact on markets across the world and the massive opportunity it engenders.

The report looks forward as well as back, making informed, authoritative forecasts on how regulation and ICT markets can work together in creating an inclusive digital future for all – with economic and social development at its helm. The full report packed with  ICT data, facts, statistics and commentary is available here.