Taxonomy Guide: Infrastructure in the Digital Economy

Technological innovation has become a key driver of economic development. Technological progress results in countries’ ability to produce beyond their typical production possibilities, while also altering how they consume.4 Over recent decades, however, the expansion of technology and innovation has evolved with new and more efficient ways of delivering goods and services. For example, new technology such as nanotechnology, artificial intelligence (AI) and photonics5 are upgrading old technologies, contributing to the expansion of new trade in the service sector. The COVID-19 pandemic has also added to the acceleration of deeper digitalisation among countries and across industries and businesses.