Study Reveals US Lags In Efficiently Using Technology

A recent report has showed that US lags far behind compared to its European counterparts and other large economies around the world when it comes to using ICT for growth.

The annual study released by the World Economic Forum last Tuesday made these revelations.

The study which featured a comparison amongst the 138 largest economies in the world on the basis on how they used information and communication technology for economic growth, placed US at the fifth position for the second year in a row. Sweden topped the list, closely followed by Singapore, Finland and Switzerland.

The co-author of the study Soumitra Dutta, who also happens to be a professor of Information Systems at the Insead business school, said that the report attempts to highlight the ability and the extent of success achieved by a nation to make profits from a networked economy, a New York Times report claimed.

“What we are trying to address is, what is the capability and what is the level of success of a nation to benefit from the network economy?”, said Soumitra Dutta.

Apart from Singapore, the study also featured a number of other Asian Nations as well amongst the top 20 in the list.

With Taiwan standing on 6th, South Korea on 10th, Hong Kong on 12th and Japan on the 19th position, it became quite clear that the governments of these so called “Asian Tigers” are indeed putting a special effort in expanding the scope of technology in their respective countries.