The future of ICT in the digital economy

The digital economy has a profound influence on the world’s trajectory and the societal well-being of ordinary citizens. It affects everything from resource allocation to income distribution and growth. The information and communications technology (ICT) industry stands at the center of the digital economy, serving as a reliable yardstick of its performance. The ICT industry unites labor policy, economic growth, and the current heated immigration policy discourse and poses both profound challenges and exciting opportunities for a broad cross-section of policymakers.

On July 24, Governance Studies at Brookings hosted a discussion on trends in the information technology sector featuring experts in the field. Panelists spoke about the opportunities and challenges brought on by digital trends that are simultaneously fueling economic productivity and producing undesirable social outcomes, such as increasing inequality and stagnant social mobility. The panel also discussed a recently released Brookings paper on the impact of the ICT sector on growth, job creation in the U.S. economy, and systematic challenges, including privacy, trade, and immigration.