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Setting the Course for the New Digital Economy. The Elements of the New Digital Economy Content and Services Growth of content and service consumption.

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Presentation on theme: "Setting the Course for the New Digital Economy. The Elements of the New Digital Economy Content and Services Growth of content and service consumption."— Presentation transcript:

1 Setting the Course for the New Digital Economy

2 The Elements of the New Digital Economy Content and Services Growth of content and service consumption is outpacing growth of durable goods consumption Comprehensiveness, convenience, and efficiency of e-commerce overwhelms other methods Communications Infrastructures and services that connect people to each other and connect people to information and media are converging. Broadband connections for stationary use and wireless connections for mobile use will dominate. Delivery Platforms A variety of devices personalized for individual needs in multiple environments are emerging They span many industries (PC / IT, consumer electronics, communications) and media

3 A Day in the Life of the Digital Revolution in the Future People move freely from one environment to another They use whatever devices are most convenient at the time They automatically connect using the best network available at the time based on their personal profile They have access to the same personalized services automatically scaled to the device and connection they are using They have one service provider that manages and optimizes their service and account based on their unique needs and resources.

4 Social and Economic Impact Being Connected Changes … How People Communicate: on-line (mail, chat, IP Phone) –Over 60 Million US Internet users (220 Worldwide) –Over a Trillion email messages sent per year –PDA growth > 45% and smartphones >98% 97-01 How people consume: on-line (e-commerce) –$226B in personal Internet e-commerce transactions in 2000, $1.3T projected for 2003 (does not include business transactions) How people learn: on-line (distance learning) –89% Schools connected to the Internet –33 Universities offering distance / on-line degree programs How people work: on-line (mobility, telecommuting) –Over half of small businesses are on the Internet –By 2001 25% of all workers will be mobile –More than 50M US workers (108M worldwide) spend > 50% of time outside of regular offices

5 COMPLEX SET OF PARTNERSHIPS REQUIRED TO DELIVER THE DIGITAL CONSUMER EXPERIENCE Levels of Integration and Coordination Are Necessarily Increasing Movies Banking Music Shopping Information Games e-mail

6 Key Elements of the New Economy Deliver common, personalized content and services Across multiple networks Across multiple devices / products Provide aggregation and simplification of complex communication and service systems Protect personal and proprietary information Protect intellectual property and trade names Provide authentication and secure transactions Filter unwanted information and intrusions Provide a consistent and predictable treatment of regulation and taxation

7 Role of Government in the New Digital Economy Remove Barriers Monopoly powers that limit access and support for consumers »Communications network access »User environment restrictions Access to international systems and markets Provide a simple, consistent and predictable framework of regulation and taxation Support industry needs for protection of property and identity Promote industry self regulation to avoid impractical or costly technical or business practice requirements Provide incentives versus mandates Partner with industry versus parental control

8 Role of Industry in the New Digital Economy Remove barriers Simplify the complex systems and transactions for consumers Provide means for privacy and security to consumers Provide means for protection of intellectual property Enable personalized communications and services Provide competitive communications and service infrastructure Provide competitive personalized products and services Promote a competitive, market-driven environment Make the resolution of these issues competitive requirements rather than regulatory or legislative requirements

9 New Rules of the Road Needed U.S Economy has undergone profound structural transformation as impact of IT revolution has begun to hit home. Redefining rules of entrepreneur ship and competition, and creating an increasingly global marketplace for a myriad of new goods and services. Yet while economic reality is fundamentally changing, our public policy framework remains rooted in the past. Mismatch between public policy and economic reality is not sustainable. Now that the New Digital Economy has emerged, we must build a new consensus around a new framework for government and public policy.

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