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Original language
16.06.2025
A Key Role of Technology Investment for Economic Growth and Quality of Life
I. Introduction
On 23 October 2024, the city of Kazan in Russia hosted the 16th BRICS Sum mit where the President of China Xi Jinping highlighted the need to turn BRICS into the primary mechanism for strengthening unity and cooperation between the countries of the Global South, as well as the leading force in reforming world governance. He also noted the importance of consolidating the position of developing nations in international governance institutions. In the context of digitalization and globalization, technologies play a key role in creating a robust foundation for global growth. For developing countries, technological innovation becomes an important tool for bolstering their national capability, strengthening their international influence, and resolving economic and social issues. However, it is important to set priorities in advance as to what technologies need to be developed to make sure that they will not only bridge the technology gap of the Global South, but also drive economic growth and better quality of life for its communities.
II. Food Security
“Food is God”, as a Chinese saying goes. It is certainly a key resource for human life as well as for the survival and development of any country. Food security plays a decisive role and is a priority objective for national economic development and social stability. Application of new technologies could help to optimize allocation of agricultural resources, enhance resilience to natural factors, increase food out put, contribute to the sustainable development of agriculture and substantially strengthen food security.
The following technologies could be employed to ensure food security:
1. The Internet of Things (IoT) in agriculture. For example, farms could use IoT based systems consisting of various field sensors to monitor soil humidity, salts and alkali levels, and ambient temperature, helping to adapt to changing conditions. Then, through IoT networks, sensor data would be collected and uploaded into cloud platforms for precision agriculture. IoT can be also used to control grain storage environment with solutions that generate alerts based on collected data on air humidity, pests, etc., which will ensure good management of grain storage facilities.
2. Satellite Remote Sensing. For example, farms can fly drones to take high definition images of crop fields, uploading them into cloud services to monitor crop growth, pest and disease status, while using satellite remote sensing for crop macro-monitoring and precision crop management.
3. Robots. Manual labor could be replaced with robots to perform sowing, weed ing and other operations. With proper controls, robots could not only deliver workforce savings, but also work the fields more efficiently, leaving no missed spots.
III. New Technologies
New technologies contribute to the development of multiple sectors, providing a strong and stable foundation for the evolving world economy. Disruptive technology is an important part of technological innovation, which not only breaks through the original technological cycle and charts a new technological track, but can also replace the mainstream technology. Since it was first proposed by Clay ton Christensen, a professor at Harvard Business School, the concept of disruptive technology has evolved and come to be widely used not only in business manage ment, but in many sectors of the economy. Investment in various new technologies can promote industry specialization and standardization. Today people’s everyday lives are intertwined with technologies, especially in health services that are no longer confined to human interventions alone. Technologies are having an unprecedented impact, offering innovative solutions for better healthcare, such as artificial intelligence (AI), which is a key end-to-end technol ogy. Deep-learning AI algorithms help doctors with accurate analysis of medical images and facilitate early diagnosis, boosting diagnostic efficiency and reducing misdiagnosis rates. Moreover, telemedicine helps to improve access to medical services in remote areas with inadequate health infrastructure, allowing local hos pitals and patients to contact medical experts via video consultations and make sure they receive timely treatments. Patients can also wear lightweight medical devices that can monitor their physical parameters in real time and transmit this data to health service providers. Such systems enable remote health management and ensure timely disease prevention and treatment. Natural disasters still heavily affect economies, societies and human lives, causing unavoidable damage. In today’s technologically advanced age, solutions are available that help to prevent and minimize damage caused by natural disasters. Earthquake early warning systems are a case in point. Such systems consist of mul tiple seismometers installed in earthquake risk areas for real-time monitoring of seismic activity and the direction of seismic wave propagation. When an incipient earthquake is detected, the system broadcasts an alert signal several or dozens of seconds before seismic wave arrival, helping to avoid casualties and reduce dam age. People can also use satellite remote sensing, radars and other technologies to monitor rivers, storms, rainfall, snowfall and other natural phenomena, continu ously collecting relevant data and providing advance warnings to avoid or minimize damage. Climate change has an impact on water resources, for example, by accelerating the melting of glaciers, so there is a clear case for utilizing advanced technology to respond to changes in water resources caused by climate change. For example, satellites and sensors can be used to monitor surface waters in real time and pro vide data on water quality, levels, distribution, etc. as inputs for water management. Other technology applications include hydrological models that can simulate pre cipitation, evaporation and other processes, helping hydrologists to develop sci ence-based water resource management programs. The era of big data brings not only more convenience, but also hidden cyber security hazards. Nowadays, with people facing huge risks as data breaches can be both disastrous for users and detrimental to social stability and security, data security has become a top priority issue. One of the effective cybersecurity tools to address it is blockchain, a decentralized system based on the distributed ledger technology (DLT) that supports secure and transparent data processing and trans actions, playing an important role in finance, supply chain management, health care and other sectors. Stronger encryption is another measure that is critical for securing data transmission and processing and preventing data leaks and theft. Economic development and increasing quality of life require a lot of energy, which is a limited resource on our planet. Therefore, humanity cannot progress without sustainable energy sources, for exploiting which people need efficient and affordable technology. One of them is photovoltaic technology for capturing solar energy, which is a highly promising sustainable energy source. Modern PV cells can offer high conversion efficiency at low cost, rivalling traditional energy sources. There are also wind power, bioenergy, geothermal power and other technologies that can effectively promote sustainable energy generation and development. In the context of rapid development of science, technology and digitalization as well as accelerated global urbanization, smart cities has become a major trend, with governments showing a keen interest in related construction methods and advanced technologies that can be deployed to improve the quality of life for city dwellers, optimize city management, and efficiently deal with urban development problems. One of the most prominent technologies for various urban applications is the Digital Twin (DT), a high-precision simulation model that mirrors the state of the physical world in real time, supporting deep integration between physical and virtual reality. These models can be combined with big data, AI, IoT, cloud computing and other emerging technologies, to accurately forecast trends and predict the behavior of physical objects, boosting the efficiency of urban management, resource allocation, decision-making and risk mitigation. Platform economy as an emerging economic model has profoundly influenced global economic development, contributing both to economic growth and better quality of life. Platform economy relies heavily on big data for collecting and analyzing con sumer data in order to accurately assess consumer needs and preferences, allowing companies to quickly adjust their business models and maximize customer satisfaction, using extensive Internet coverage. Note that such data collection and analysis require a strong focus on user data protection to prevent data breaches and ensure the security of user transactions. The could be achieved, for instance, through the use of blockchain technology, which is a powerful tool for securing cross-border payments and building transactional trust.
IV. Conclusions
Developing nations, especially the countries of the Global South, are gradually strengthening their position on the international arena. However, opportunities offered by the global economy come hand in hand with challenges that require a systemic approach to technology investments. Therefore, it is critical to support emerging technologies to provide food security, enhance healthcare quality, pro mote sustainable energy, minimize the impact of natural disasters, build smart cit ies and create sustainable economic models. Technological progress should aim to improve the quality of life as well as cre ate a favorable environment for sustainable development of the global community.
On 23 October 2024, the city of Kazan in Russia hosted the 16th BRICS Sum mit where the President of China Xi Jinping highlighted the need to turn BRICS into the primary mechanism for strengthening unity and cooperation between the countries of the Global South, as well as the leading force in reforming world governance. He also noted the importance of consolidating the position of developing nations in international governance institutions. In the context of digitalization and globalization, technologies play a key role in creating a robust foundation for global growth. For developing countries, technological innovation becomes an important tool for bolstering their national capability, strengthening their international influence, and resolving economic and social issues. However, it is important to set priorities in advance as to what technologies need to be developed to make sure that they will not only bridge the technology gap of the Global South, but also drive economic growth and better quality of life for its communities.
II. Food Security
“Food is God”, as a Chinese saying goes. It is certainly a key resource for human life as well as for the survival and development of any country. Food security plays a decisive role and is a priority objective for national economic development and social stability. Application of new technologies could help to optimize allocation of agricultural resources, enhance resilience to natural factors, increase food out put, contribute to the sustainable development of agriculture and substantially strengthen food security.
The following technologies could be employed to ensure food security:
1. The Internet of Things (IoT) in agriculture. For example, farms could use IoT based systems consisting of various field sensors to monitor soil humidity, salts and alkali levels, and ambient temperature, helping to adapt to changing conditions. Then, through IoT networks, sensor data would be collected and uploaded into cloud platforms for precision agriculture. IoT can be also used to control grain storage environment with solutions that generate alerts based on collected data on air humidity, pests, etc., which will ensure good management of grain storage facilities.
2. Satellite Remote Sensing. For example, farms can fly drones to take high definition images of crop fields, uploading them into cloud services to monitor crop growth, pest and disease status, while using satellite remote sensing for crop macro-monitoring and precision crop management.
3. Robots. Manual labor could be replaced with robots to perform sowing, weed ing and other operations. With proper controls, robots could not only deliver workforce savings, but also work the fields more efficiently, leaving no missed spots.
III. New Technologies
New technologies contribute to the development of multiple sectors, providing a strong and stable foundation for the evolving world economy. Disruptive technology is an important part of technological innovation, which not only breaks through the original technological cycle and charts a new technological track, but can also replace the mainstream technology. Since it was first proposed by Clay ton Christensen, a professor at Harvard Business School, the concept of disruptive technology has evolved and come to be widely used not only in business manage ment, but in many sectors of the economy. Investment in various new technologies can promote industry specialization and standardization. Today people’s everyday lives are intertwined with technologies, especially in health services that are no longer confined to human interventions alone. Technologies are having an unprecedented impact, offering innovative solutions for better healthcare, such as artificial intelligence (AI), which is a key end-to-end technol ogy. Deep-learning AI algorithms help doctors with accurate analysis of medical images and facilitate early diagnosis, boosting diagnostic efficiency and reducing misdiagnosis rates. Moreover, telemedicine helps to improve access to medical services in remote areas with inadequate health infrastructure, allowing local hos pitals and patients to contact medical experts via video consultations and make sure they receive timely treatments. Patients can also wear lightweight medical devices that can monitor their physical parameters in real time and transmit this data to health service providers. Such systems enable remote health management and ensure timely disease prevention and treatment. Natural disasters still heavily affect economies, societies and human lives, causing unavoidable damage. In today’s technologically advanced age, solutions are available that help to prevent and minimize damage caused by natural disasters. Earthquake early warning systems are a case in point. Such systems consist of mul tiple seismometers installed in earthquake risk areas for real-time monitoring of seismic activity and the direction of seismic wave propagation. When an incipient earthquake is detected, the system broadcasts an alert signal several or dozens of seconds before seismic wave arrival, helping to avoid casualties and reduce dam age. People can also use satellite remote sensing, radars and other technologies to monitor rivers, storms, rainfall, snowfall and other natural phenomena, continu ously collecting relevant data and providing advance warnings to avoid or minimize damage. Climate change has an impact on water resources, for example, by accelerating the melting of glaciers, so there is a clear case for utilizing advanced technology to respond to changes in water resources caused by climate change. For example, satellites and sensors can be used to monitor surface waters in real time and pro vide data on water quality, levels, distribution, etc. as inputs for water management. Other technology applications include hydrological models that can simulate pre cipitation, evaporation and other processes, helping hydrologists to develop sci ence-based water resource management programs. The era of big data brings not only more convenience, but also hidden cyber security hazards. Nowadays, with people facing huge risks as data breaches can be both disastrous for users and detrimental to social stability and security, data security has become a top priority issue. One of the effective cybersecurity tools to address it is blockchain, a decentralized system based on the distributed ledger technology (DLT) that supports secure and transparent data processing and trans actions, playing an important role in finance, supply chain management, health care and other sectors. Stronger encryption is another measure that is critical for securing data transmission and processing and preventing data leaks and theft. Economic development and increasing quality of life require a lot of energy, which is a limited resource on our planet. Therefore, humanity cannot progress without sustainable energy sources, for exploiting which people need efficient and affordable technology. One of them is photovoltaic technology for capturing solar energy, which is a highly promising sustainable energy source. Modern PV cells can offer high conversion efficiency at low cost, rivalling traditional energy sources. There are also wind power, bioenergy, geothermal power and other technologies that can effectively promote sustainable energy generation and development. In the context of rapid development of science, technology and digitalization as well as accelerated global urbanization, smart cities has become a major trend, with governments showing a keen interest in related construction methods and advanced technologies that can be deployed to improve the quality of life for city dwellers, optimize city management, and efficiently deal with urban development problems. One of the most prominent technologies for various urban applications is the Digital Twin (DT), a high-precision simulation model that mirrors the state of the physical world in real time, supporting deep integration between physical and virtual reality. These models can be combined with big data, AI, IoT, cloud computing and other emerging technologies, to accurately forecast trends and predict the behavior of physical objects, boosting the efficiency of urban management, resource allocation, decision-making and risk mitigation. Platform economy as an emerging economic model has profoundly influenced global economic development, contributing both to economic growth and better quality of life. Platform economy relies heavily on big data for collecting and analyzing con sumer data in order to accurately assess consumer needs and preferences, allowing companies to quickly adjust their business models and maximize customer satisfaction, using extensive Internet coverage. Note that such data collection and analysis require a strong focus on user data protection to prevent data breaches and ensure the security of user transactions. The could be achieved, for instance, through the use of blockchain technology, which is a powerful tool for securing cross-border payments and building transactional trust.
IV. Conclusions
Developing nations, especially the countries of the Global South, are gradually strengthening their position on the international arena. However, opportunities offered by the global economy come hand in hand with challenges that require a systemic approach to technology investments. Therefore, it is critical to support emerging technologies to provide food security, enhance healthcare quality, pro mote sustainable energy, minimize the impact of natural disasters, build smart cit ies and create sustainable economic models. Technological progress should aim to improve the quality of life as well as cre ate a favorable environment for sustainable development of the global community.
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