Harnessing benefits of digitalisation requires visionary leadership to shift from fears to opportunities - say participants at OSCE-EEF discussion

VIENNA, 22 January 2018 – The role of digital economy as a driver for innovation, competitiveness and growth are the focus of this year’s first Preparatory Meeting of the 26th OSCE Economic and Environmental Forum, which opened today in Vienna.

“Managing economic transformation today requires a visionary and responsible leadership to shift from fears to opportunities, from challenges to prospects for sustainable growth and inclusive prosperity,” said Chairperson of the OSCE Permanent Council Ambassador Alessandro Azzoni, representing the 2018 OSCE Italian Chairmanship.

“A wide range of new knowledge and skills, combined with shared rules firmly guiding the economic and societal transformations to come, will be necessary,” he said. Azzoni added that digitalization, human capital and good-governance are the key elements of this transformation.

The two-day discussion will focus on ways to expand the benefits of the digital economy; ways to expand digital infrastructure and digital trade in the participating States of the OSCE; and how the digital economy can help to enhance connectivity and business interaction among the countries.

Particular attention will be given to the processes aimed at encouraging the emergence of an entrepreneurial spirit among young people, relying especially on the fact that SMEs and start-ups play a critical role in the development of a full range of new and innovative business models.

“Trust and security remain vital to enjoy the full potential of the digital economy,” said Azzoni. “Constructive discussions on threats and vulnerabilities in the use of ICTs, risks for public and private sectors, and ways to promote digital security in business are timely and needed.”

Andrea Gumina, Expert on innovation, digital economy and next production revolution at Italy’s G7 Presidency in 2017, shared his experience and suggested that managing innovations should be within OSCE’s focus as “they are a source of growth, wellbeing and prosperity for the whole human kind”.

Secretary General Thomas Greminger said that the digital revolution is already beginning to shape the way we live, work and govern ourselves. “Its impact is not confined to specific countries. The transformation will have huge implications and we should enter this discussion with an open mind and a willingness to manage these changes in a positive way.”

Greminger added that the OSCE can be a platform for embracing technological change and steering it toward a future that reflects common objectives and values of the participating States.

“Challenges and opportunities of the Fourth Industrial Revolution are not easy to balance,” said Co-ordinator of OSCE Economic and Environmental Activities Vuk Žugić. “The impact on economic security could potentially be disruptive if the technological change does not deliver on its promises. We cannot afford to have the digital gap become yet another dividing line in the current regional and global scenario.”

The 2018 Economic and Environmental Forum is devoted to the topic “Promoting economic progress and security in the OSCE area through innovation, human capital development, and good public and corporate governance”.

The first Preparatory Meeting gathered high-level officials, experts from the OSCE’s 57 participating States and 11 Partners for Co-operation as well as representatives of the business community, international organizations, civil society and academia.

The Second Preparatory Meeting will be held in spring in Italy and the Concluding Meeting will take place from 5 to 7 September in Prague.