India is the biggest “overperformer” in frontier technologies like artificial intelligence (AI), the Internet of Things (IoT) to name a few, according to a new country-readiness index released by the United Nations Conference on Trade and Development.
Announcing it from its Website, the UNCTAD report said the index spotlights developing countries that perform better on frontier technologies than their per capita GDPs would suggest.
Frontier technologies are those that take advantage of digitalization and connectivity. They include big data, blockchain, 5G, 3D printing, robotics, drones, gene editing, nanotechnology and solar photovoltaic. It scores countries on their readiness for frontier technologies based on five building blocks: ICT deployment, skills, research and development (R&D), industry activity and access to finance.
While some developing nations like India and the Philippines did show stronger capabilities to use, adopt and adapt frontier technologies than their per capita GDPs would suggest, most were lagging, according to an index of 158 countries in UNCTAD’s Technology and Innovation Report 2021, published on February 25, 2021.
UNCTAD said India actual index ranking was 43, while the estimated one based on per capita income was 108. Hence, India had overperformed by 65 ranking positions. It was followed by the Philippines, which overperformed by 57 ranking positions. (Their overperformance is measured as the difference between the actual index rankings and the estimated index rankings based on per capita income.)
China, at position 25, and India performed well for R&D. This, said the UN body, reflects their abundant supplies of qualified and highly skilled human resources available at a comparatively low cost. They also have large local markets, which attract investment by multinational enterprises. In China, the progress is partly a reward for spending 2 per cent of GDP on R&D.
According to the index, the United States, Switzerland and the United Kingdom were best prepared for frontier technologies. Most of the best-prepared countries were from Europe, except the Republic of Korea, Singapore and the United States. Some transition economies, such as Russia, also performed well on the index.
Image credit: UNCTAD/FB