Data as a Barrier  

Digital giants collect vast amounts of user data. This data is a valuable asset they use to personalize services, target advertising, and develop new products.

 Hurt to Real Industries 

Online shopping and low prices reduce physical retailers’ market share. In 2020, over 12,000 US retail stores closed, affecting traditional bookstores significantly.

 Echo chambers Effect  

Algorithms filter content based on preferences, limiting exposure to opposing viewpoints and reinforcing existing beliefs, thus increasing polarization.

 Misinformation Fuels Division  

Digital platforms and apps facilitate the rapid spread of misinformation and stereotypes about different cultures, races, or regions. This can perpetuate harmful misunderstandings, fuel prejudice, and deepen existing divisions between groups.

 Data Silos Limit Collaboration 

Organizations often hoard valuable data within their own systems, creating isolated silos. Valuable insights could be gained through international conferences and dialogues, but this alone is not enough to overcome the limitations imposed by data silos on cross-sectoral innovation and knowledge exchange.

 Information Asymmetry Impedes Global Opportunities 

Unequal access to and control over data creates power imbalances and information asymmetry, hindering potential cooperations between businesses, suppliers, talent, and capital, thus stifling valuable industry collaborations.