Investments in Technology as a Driver of Sustainable Global Growth

Thematic Vector
The thematic vector of this essay aims to investigate the role of investments in technology as a key mechanism for addressing the global challenges faced by countries in the Global South and East, with a particular emphasis on the BRICS nations. The essay will delve into the practical applications and implications of techno- logical advancements across various sectors, including food security; healthcare; energy; water management; smart city development; cybersecurity; platform econ- omy, as well as new areas such as artificial intelligence (AI), quantum computing, and fusion reactors.
As the world grapples with the pressing issues of climate change, demographic shihs, and widening disparities between developed and developing nations, technology is evolving fr om a mere tool to a foundational solution for addressing these challenges. Investments in technology have the potential to drive not only eco- nomic growth but also to foster social equity, environmental sustainability, and enhanced quality of life.
Contemporary challenges
Since the dawn of the 21st century, the world has been confronted with a multitude of global challenges that require urgent and ambitious solutions. These include climate change, rapid demographic expansion, resource depletion, inequitable distribution of benefits, and the technological gap faced by developing countries. The United Nations expects that by 2050, the global population will surge to 9.7 billion, placing unprecedented strain on vital resources such as food, energy, and water.
Moreover, climate change is already exerting significant pressure on the global economy. According to World Bank estimates, by 2030, its effects could result in the loss of over 100 million jobs, predominantly impacting nations in the Global South. Concurrently, there has been a notable economic shih towards the Global South and East, particularly among BRICS countries. While their combined economic output represented just one-fihh of the global economy at the start of the century, it now exceeds half. To fully harness this growing potential, innovative development strategies centred on technological advancements are imperative.

Data analysis
According to McKinsey (2023), the BRICS nations have the potential to expand their share of global GDP to 60% by 2040 if they prioritise the development of high-tech industries. Supporting this, BloombergNEF data highlights that China and India are already leading in renewable energy, collectively investing over $300 billion annually in solar and wind technologies.

Opportunities in technology
Technology presents a unique chance not only to address current challenges but also to establish a sustainable development framework that benefits future generations. Investing in technology is no longer just a trend; it has become essential for ensuring food security, accessible healthcare, environmental sustainability, and social equity.
The significance of this topic is underscored by the critical development stage of countries in the Global South and East. Strategic investments in technology can accelerate their economic growth and enhance the quality of life for their populations. For instance, advancements in precision farming, artificial intelligence, and renewable energy are already yielding substantial outcomes in nations like China, Russia, India, and Brazil.
Hypothesis
Investments in technology hold the potential to form the cornerstone of a new global growth paradigm, grounded in the principles of sustainability, equity, and openness. This could empower countries in the Global South and East to not only address their internal challenges but also to assume a leadership role in the global economy.

Analytics and Data
1. Food security
According to the Food and Agriculture Organization of the United Nations (FAO), global food consumption is expected to rise by 70% by 2050, driven by population growth and urbanisation. These factors will place additional strain on agricultural systems.
Precision farming can boost crop yields by 20-30% by leveraging technologies such as drones, satellites, and the Internet of Things (IoT). For instance, precision farming initiatives in India have demonstrated a notable 25% increase in wheat yields. This achievement was facilitated by the deployment of soil sensors to monitor moisture and nutrient levels, combined with automated irrigation systems.
Alternative food sources, such as lab-grown meat, are already attracting annual investments of $1.5 billion (Good Food Institute, 2022). Companies like Beyond Meat and Impossible Foods have demonstrated that producing artificial meat can reduce carbon emissions by up to 90% compared to traditional livestock farming. This innovation is particularly significant for nations with limited arable land, such as Bangladesh and Nigeria.
Vertical farms, which enable food production in confined spaces, are gaining popularity. For instance, in Japan, these farms can produce up to 10,000 heads of lettuce daily while using only 1% of the water required by traditional farming methods. This solution is especially pertinent for urban environments wh ere land is scarce.
2. Healthcare
The World Health Organization (WHO) forecasts that by 2030, over 1 billion people will require healthcare services due to chronic diseases. This issuis particularly acute in the Global South, where access to quality healthcare remains limited.
Telemedicine has the potential to decrease healthcare costs by as much as 30% by offering access to medical professionals in remote areas. For instance, in Brazil, the adoption of telemedicine has reduced waiting times for consultations fr om one week to just a few hours. This is particularly crucial for rural regions wh ere medical facilities are ohen far fr om populated areas.
Artificial intelligence (AI) is already being utilised to diagnose lung cancer
with accuracy rates as high as 94% (Nature Medicine, 2021). In China, AI sys- tems are assisting in the analysis of X-rays, enabling early disease detection and reducing mortality rates by 20%. This technology is particularly vital for countries such as India and Brazil, wh ere healthcare systems face significant strain.


•Bioprinting of organs and tissues is rapidly transitioning fr om concept to reality. For example, Organovo has developed technology to bioprint human liver tissue suitable for transplantation. This innovation holds the potential to significantly reduce organ transplant waiting lists and save millions of lives.
3. Energy


•The International Energy Agency (IEA) forecasts that renewable energy will contribute to 90% of electricity growth by 2050, driven by increasing aware- ness of climate change effects and declining technology costs.

•Investments in solar and wind energy grew by 20% in 2022, reaching $500 billion (BloombergNEF). For instance, Morocco launched Noor, the world’s largest solar facility, which now supplies energy to over 1 million households. This initiative not only reduces reliance on fossil fuel imports but also creates new jobs.

•Energy storage technologies, such as advanced batteries, offer solutions to address the instability of renewable energy sources. Tesla has developed energy storage systems capable of powering entire cities for several days. This innovation is particularly vital for countries like Nigeria and India, which experience frequent power outages.

•Hydrogen energy is emerging as a highly promising sector. For instance, Japan has initiated projects utilising hydrogen to generate electricity and heat homes. This technology has the potential to serve as an alternative to fossil fuels and reduce carbon dioxide emissions.

Empasis on Economic and Social Effects Economic effects

1. GDP growth

•Investing in technology can boost the annual GDP growth of countries in the Global South and East by 2-3%. For example, in India, the expansion of the IT sector has contributed an additional 8% to the nation’s GDP over the past decade, driven primarily by the growth of sohware and services exports.

•The growth of high-tech industries is driving the creation of new markets and employment opportunities. According to the World Bank, the digital economy is expected to generate over 100 million jobs in Asia and Africa by 2030. This development can play a crucial role in reducing unemployment and enhanc- ing the quality of life for populations in these regions.
2. Cost reduction


•Automation and robotisation in production can lower operating costs by 15-25%. For instance, in China, the integration of robots in factories has resulted in a 40% reduction in labour costs. This approach can be adopted by other countries to enhance the competitiveness of their economies.

•Precision farming technologies can reduce resource usage, such as water and fertilisers, by up to 40%. This is particularly crucial for countries with limited resources, such as Bangladesh and Nigeria.

Social effects

1. Improving the quality of life


•Access to quality healthcare and education through digital platforms. For instance, in Nigeria, online learning platforms for children have increased lit- eracy rates by 15%. This approach can be expanded to other nations to help reduce illiteracy rates.

•Improving living conditions in smart cities by reducing pollution and noise levels, which is particularly critical for megacities like Delhi and São Paulo, wh ere air pollution poses a severe challenge.
2. Social justice


•Technology is playing a crucial role in addressing inequality by providing equal opportunities to all population segments. For instance, in Bangladesh, block- chain-based microcredit platforms have empowered small farmers to secure financing without relying on traditional banking systems. This solution can be replicated in other countries to help combat poverty.

•The platform economy fosters the growth of small and medium-sized busi- nesses by creating favourable conditions for their development. For example, Alibaba enables small entrepreneurs in China to access international markets. This approach can be expanded to other countries to accelerate their eco- nomic progress.

General Conclusions and Expected Results

1.Investing in technology is not merely a current trend, but a vital necessity for addressing global challenges.

2.Nations in the Global South and East have a unique opportunity to leverage technology to accelerate economic growth and enhance the quality of life for their populations.

3.A new platform for global growth should be founded on the principles of sus- tainability, equity, and openness.
Expected results

1. Economic:

The GDP of countries in the Global South and East is projected to increase by 2-3% annually.
•Over 100 million new jobs are expected to be created in high-tech industries.

•Automation and robotisation are expected to reduce operating costs by 15-25%.
2. Social:


•Literacy rates and access to education are expected to rise by 15-20%.

•Mortality from chronic diseases is projected to decrease by 20-30% through the application of AI in healthcare.

•Living conditions in smart cities will improve thanks to reduced pollution and noise levels.
3. Environmental:


•The carbon footprint is expected to decrease by 30-40% as a result of transi- tioning to renewable energy sources.

•The sustainable utilisation of water resources is anticipated to reduce their shortage by 20-25%.

•Environmental protection will be enhanced through the implementation of sustainable technologies in agriculture and industry
•
Proposals for Innovative Approaches and Solutions

1. Creation of a shared technology platform for BRICS nations


•Establish a shared platform to facilitate the exchange of technology, research, and innovation among BRICS member states, ensuring optimal resource util- isation and avoiding redundant efforts.

•For instance, collaborative projects such as developing fusion reactors or quantum computing systems could position BRICS countries as global leaders in advanced technology markets.
2. Launching regional centres of competence


•Set up specialised centres in each BRICS nation, each focusing on a distinct area of expertise: artificial intelligence in India, renewable energy in China, water management in Brazil, and space technologies and advanced materials in Russia, among others.

•These centres will drive research, train professionals, and implement innova- tive solutions tailored to local needs.
3. Establishment of a BRICS joint venture capital fund


•Launch a $10 billion venture capital fund dedicated to supporting technology start-ups across BRICS nations.

•The fund will focus on financing initiatives that tackle critical global issues, including climate change, food security, and public health.
4. Collaborative development of green infrastructure


•BRICS nations can collaborate on developing green infrastructure, encom- passing renewable energy systems, water purification facilities, and smart city initiatives.

•For instance, they could jointly construct solar power plants in arid regions or initiate desalination projects along coastlines.
•Over 100 million new jobs are expected to be created in high-tech industries.

•Automation and robotisation are expected to reduce operating costs by 15-25%.
2. Social:


•Literacy rates and access to education are expected to rise by 15-20%.

•Mortality from chronic diseases is projected to decrease by 20-30% through the application of AI in healthcare.

•Living conditions in smart cities will improve thanks to reduced pollution and noise levels.
3. Environmental:


•The carbon footprint is expected to decrease by 30-40% as a result of transi- tioning to renewable energy sources.

•The sustainable utilisation of water resources is anticipated to reduce their shortage by 20-25%.

•Environmental protection will be enhanced through the implementation of sustainable technologies in agriculture and industry.

Proposals for Innovative Approaches and Solutions

1. Creation of a shared technology platform for BRICS nations


•Establish a shared platform to facilitate the exchange of technology, research, and innovation among BRICS member states, ensuring optimal resource util- isation and avoiding redundant efforts.

•For instance, collaborative projects such as developing fusion reactors or quantum computing systems could position BRICS countries as global leaders in advanced technology markets.
2. Launching regional centres of competence


•Set up specialised centres in each BRICS nation, each focusing on a distinct area of expertise: artificial intelligence in India, renewable energy in China, water management in Brazil, and space technologies and advanced materials in Russia, among others.

•These centres will drive research, train professionals, and implement innova- tive solutions tailored to local needs.
3. Establishment of a BRICS joint venture capital fund


•Launch a $10 billion venture capital fund dedicated to supporting technology start-ups across BRICS nations.

•The fund will focus on financing initiatives that tackle critical global issues, including climate change, food security, and public health.
4. Collaborative development of green infrastructure


•BRICS nations can collaborate on developing green infrastructure, encom- passing renewable energy systems, water purification facilities, and smart city initiatives.

•For instance, they could jointly construct solar power plants in arid regions or initiate desalination projects along coastlines.
Assessment of Economic and Social Effects

1. Economic effects


•Implementing the proposed solutions could boost the combined GDP of BRICS nations by 5-7% by 2035.

•The generation of new employment opportunities in high-tech sectors will contribute to reduced unemployment rates and increased household incomes.
2. Social effects


•Enhanced access to high-quality healthcare and education services will ele- vate the overall standard of living for the population.

•The use of technologies such as blockchain and platform economies will help reduce inequality, fostering equal opportunities for all societal groups.

Expected Results Relevant to the BRICS Regions

1. Technological Independence


•By fostering their own innovative sectors, BRICS nations will decrease their reliance on imported technology and equipment.
2. Global Technological Leadership


•BRICS countries will enhance their standing in the global technology market by advancing in promising fields such as AI, quantum computing, and ther- monuclear energy.
3. Sustainable Growth


•The adoption of green technologies and sustainable practices will enable BRICS countries to meet the United Nations’ Sustainable Development Goals (SDGs) by 2050.

Conclusion

Investing in technology is a forward-thinking strategy that ensures future gen- erations enjoy a better quality of life than we do today!

Technological investments not only address current challenges but also pave the way for a sustainable development model that benefits humanity as a whole. I urge all participants in this dialogue to collaborate in building a global techno- logical ecosystem, which will serve as the foundation for a new platform driving worldwide growth.