The Task Force formally launched on 29 November 2018. Read and watch the events from the launch, and visit this page often for news and updates as the Task Force’s work gets underway.
Voices from Davos

VOICES FROM DAVOS

“We jumped at the chance to join the Task Force because it is something very, very different from what we’re usually asked to do, and we want to have real impact.” Click here for the remarks from Ronan Ryan, president

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Uncategorized

MEMBER FOCUS: MATS GRANRYD

We took advantage of the presence of so many of our Task Force members in Davos last month to get their thoughts on camera: about the digital revolution’s implications for the SDGs, about opportunities and threats, and about their own

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Uncategorized

The Hidden Automation Agenda of the Davos Elite

New York Times, January 25, 2019 Many of our Task Force members have expressed concern about the serious potential downsides of AI-enabled automation, particularly with regard to job loss. This reporter covered the discussions around that issue during last month’s

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News

Read our op/ed in Project Syndicate

Harnessing the Digital Revolution for Sustainable Development Task Force co-chairs Maria Ramos and Achim Steiner share their thoughts about the digitalization of finance and what that means for sustainable development. Read their op/ed in Project Syndicate. Dec 17, 2018 |

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News

A Message from Co-Chair Maria Ramos

From the bottom of my heart I believe that even though technological advancements and sustainable development sometimes feel like they are moving in different directions – we cannot retreat from our duty to fight for a better world.

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DEFINITION OF TERMS

 

Digital

Involving or relating to the use of computer technology.

Digitization

The process of changing from analog to digital form

Digital Finance

Financial services delivered through digital processes and infrastructure.

Digitization

The process of changing from analog to digital form

Digitalization

Generally refers to how different political, social and economic domains are restructured around the broad use of digital technologies, often leading to new business models, services of employment as well as in interaction and engagement

Digitization of Finance

The impact of conversion from analog to digital technologies on financial functions, i.e. back office automation, transaction processing, improving “the plumbing” of financial service functions, resulting from digitization.

Digitalization of Finance

Systemic changes to the financial ecosystem due to digital technologies i.e., disintermediation of the banking and capital market sectors, shifting role of regulators due to cross-border transactions.

Digital Transformation

Digital transformation is the application of digital technologies to fundamentally impact all aspects of business and society.

Financial Ecosystem

A network of players (i.e., intermediaries, regulators, money managers, insurers, fintech, risk evaluators, etc.) that interact and provide services in the form of borrowing, lending, insurance, investment and payments and others.

Fintech or “financial technology”

Computer programs and other technology used to support or enable banking and financial services, traditionally referring to the technology of back-end work of financial institutions, and more recently referring to a fast-growing sector that applies technology to improve financial activities.

Technologies under consideration by the Task Force include, but are not limited toartificial intelligence, blockchain, cloud computing, online and mobile platforms, Big Data and/or the Internet of Things.

Sustainable Development

Sustainable Development that meets the needs of the present without compromising the ability of future generations to meet their own needs and encompasses society, environment, culture and economy (United Nations 1987 Bruntland Commission Report)