Shaping the Future of Business-Digital Transformation for a Sustainable Way Forward
Authors:   International Finance Corporation., de la Campa Alejandro Alvarez 
Published: February 2025

In a technologically driven era, the importance of digital transformation cannot be overstated. It has brought about significant changes in our society, revolutionizing the way we communicate, access information, and even the way we consume goods and services. Irrefutably, it’s embedded in every facet of our lives. Inclusive, accessible, and quality digital connectivity is the foundation of a flourishing economy and an informed society. It stands as the cornerstone of business productivity and resilience across all economic sectors, and is essential for the provision of public services, including education, healthcare, and finance. In 2022, mobile technologies and services have generated 5 percent of the global gross domestic product – adding $5.2 trillion to the economy and supporting 28 million jobs across the wider ecosystem.
As businesses navigate the intricate web of evolving technologies, being prepared for the next frontier of digital transformation is not merely an option. It’s a strategic necessity. Businesses that have a clear strategic focus on digital technologies have a greater ability to adapt to evolving market trends, while also being able to exploit opportunities for innovation, remain competitive, and accelerate growth. While successful digital transformation is key to successful business operations, leveraging it the right way is even more important. For every business, irrespective of its size or sector, sustainability is an urgent and existential business imperative.
Ensuring that technology itself is more sustainable, while using technology to become more sustainable is critical for businesses going forward. This means embracing ambitious zero emissions, and zero waste goals, shifting from take-make-waste models to becoming circular, and essentially, being greener across value chains. Advances in technology itself hold the promise of helping businesses become more sustainable. Disruptive technologies, artificial intelligence, smart building systems, and automation are some that would help businesses become more efficient and shrink their carbon footprint.
As the increasing reliance on digital technologies grows across industries, it is also important to understand how everyday use of technology can introduce risks to businesses, as well. From cybersecurity threats and data risks to regulatory risks and ethical use of technology, managing and implementing robust measures that would prevent such risks is vital for the sustainability of any business. A shift towards digital sustainability not only has direct benefits for businesses, but also for society at large. As businesses become more sustainable, they would develop products and services that may encourage customers to be greener too, helping reduce their environmental impact. Intertwining digital technologies and sustainability can be a powerful catalyst in shaping the future of businesses, helping them stay ahead of the curve. And more importantly, will pave the way for a more resilient, inclusive, and livable future for all.