insights1 SWITZERLAND REMAINS THE WORLD'S FIFTH STRONGEST COMPETITOR IN DIGITIZATION

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SWITZERLAND REMAINS THE WORLD'S FIFTH STRONGEST COMPETITOR IN DIGITIZATION Featured

For the second time in a row, Switzerland has secured fifth place out of 64 countries surveyed in terms of digital competitiveness. There is potential to catch up in terms of the Swiss population's attitude towards technology.

One of Switzerland's strengths in terms of digital competitiveness can be attributed to the knowledge factor.

 

Switzerland remains the world's fifth strongest competitor in terms of digitalization. This is according to the world ranking published by the Institute for Management Development in Lausanne (IMD) on Thursday. Switzerland has thus secured fifth place out of 64 countries surveyed for the second time in a row, according to a joint press release from the digitalswitzerland location initiative, the IMD and the École Polytechnique Fédérale de Lausanne (EPFL).

After being overtaken by Denmark in 2022, the USA is back at the top of the rankings in 2023. Denmark, on the other hand, dropped three places to 4th place. The Netherlands climbed to second place (from 6th place), while Singapore improved by one place (3rd place).

 

Switzerland is making progress

The world ranking on "Digital Competitiveness" assesses an economy's ability and willingness to use and explore digital technologies as a key driver of economic change in business, government and society in general. The researchers assess digital competitiveness based on three main categories or factors: Knowledge, Future Readiness and Technology.

According to the press release, Switzerland's solid position in the ranking is largely due to its excellent score for the knowledge factor. The World Competitiveness Center defines this as "the necessary know-how to discover, understand and develop new technologies".

According to the press release, Switzerland was able to improve slightly in the other two categories compared to the previous year, although there is still potential.

 

Top rank in the area of knowledge

Switzerland ranks in the top 10 in all sub-categories in the area of knowledge, especially in terms of talent, where it is in second place. The communiqué states that the international experience of the workforce and the proportion of highly qualified talent from third countries contribute to this ranking.

In terms of scientific concentration, Switzerland is now in 10th place (2022: 8th place), and in the area of education and training in 7th place (2022: 8th place). In the area of technology, Switzerland rises to 10th place (2022: 12th place). This is mainly due to improvements in the regulatory framework - Switzerland ranks 4th in this sub-factor (2022: 8th place).

"For many years, digitalswitzerland's mission has been to transform Switzerland into a leading digital nation. The population's attitude towards technology is a crucial component in this regard," Marc Walder, founder of the digitalswitzerland location initiative, is quoted as saying in the press release. "We want to raise awareness and encourage the population to embrace and use digital innovations." A focus on education and training, particularly in the area of digital skills, is crucial in this regard.

According to the report, there is also great potential for improvement in the population's attitude towards technology. Switzerland is only in 16th place here. "Switzerland rejected the e-ID law; the use of the COVID online application was very low; concerns about data protection are extremely high; and digital banking is not as developed as in many other countries," Professor Arturo Bris, Director of the IMD World Competitiveness Center, is quoted as saying in the report.

This reflects Switzerland's culture with regard to the adoption of technology at an individual level, which is much lower than in other countries. This is despite the fact that Switzerland has an excellent digital infrastructure, solid regulation and digital talent, and companies are also very agile in implementing the digital transformation." Switzerland also needs to improve in the categories of cyber security (20th place) and state cyber security capacities (28th place), Bris continued.

 This article was originally posted by: CASH

 

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