In today’s digital landscape, major tech companies and leading brands base their central monetization strategies on tracking user activity—what we watch or listen to, who we communicate with, and for how long.
As consumers, we have inadvertently allowed ourselves to become tradable commodities. Now, artificial intelligence (AI) is deployed to optimize this phenomenon.
However, the modern digital economy is evolving beyond these transactional frameworks. It increasingly champions inclusivity, equality, and opportunity—principles essential to humanity’s progress.
“Any-sized business can now cheaply and easily launch online and reach its intended audience faster and more precisely than ever before,” said Cameron Newton, Managing Partner of U.S.-based Relevance Ventures, in an interview with TRENDS.
Laurent Ross, COO and Co-Owner of Oxygen, a CRM integration and AI strategies company, concurs: “Like the Internet revolution before it, AI and the new digital economy are overwhelmingly positive forces for change.”
Technology’s Role in Benefiting Humanity
Without a doubt, technology has transformed several domains where traditional methods often fell short.
Healthtech
Healthcare today is no longer confined to hospitals. Through an internet connection, patients can access specialized doctors online. According to Grand View Research, the global remote healthcare market grew to US$11 billion in 2023, up from US$6.7 billion in 2022.
AI-enabled technologies also diagnose diseases more rapidly. For instance, a McKinsey analysis revealed that before COVID-19, the average timeline for drug approval was 10 years. During the pandemic, AI reduced this timeline to just 11 months.
However, bias in health data remains a concern. “The one thing that hasn’t changed is bias in the data,” said Vasudha Khandeparkar, AI, Analytics, and Data Practice Lead at Grant Thornton UAE.
Mika Newton, CEO of the AI health data startup xCures, echoed these sentiments. “While the proliferation of health data allows greater personalization in care, it often skews toward the affluent,” Newton noted.
He suggested a solution: “Implementing AI as a semantic layer on top of fragmented healthcare data systems can create actionable insights for both patient care and operational improvements. To improve inclusivity, solutions must prioritize interoperability and scalability across diverse healthcare environments and systems.”
Michael Dershem, CEO and Founder of Apierion, emphasized the importance of capturing clinical data across socio-economic statuses to develop predictive models addressing hidden inequities.
Edtech
The e-learning industry is projected to reach a market value of US$185 billion by 2024 and serve 1.12 billion students by 2029, according to Statista. Yet, ensuring fairness remains a challenge.
Ilia Melnichuk, CEO of Synergy University Dubai, highlighted key issues: algorithmic bias, unequal access to digital devices and reliable internet, and educators lacking support for effective integration of digital tools.
“Many students also struggle in virtual environments. Inclusive educational platforms must foster social interaction, peer engagement, and emotional well-being,” Melnichuk said.
Big Data Analytics
Big data is integral to solving business challenges across industries, using AI and statistical algorithms to uncover trends, patterns, and correlations. With 2.5 quintillion bytes of data generated daily, Big Data Analytics News estimates the market will reach US$350 billion by 2024.
Currently, large tech companies dominate access to this resource.
“In the next decade, big data will increasingly become a shared resource rather than a private asset, democratizing access,” said Hetarth Patel, Vice President MEA, Americas, and Asia Pacific at WebEngage.
Neeraj Gupta, CEO of Policybazaar.ae, agreed. “Open-source initiatives and partnerships between public and private sectors can help prevent exploitative practices,” he said.
“The key,” added Ross, “is ensuring that data collection and analysis prioritize public good over commercial interests.”
Fintech
Fintech is proving transformative and inclusive, impacting developed economies and regions struggling with financial access. According to the World Economic Forum, the sector is expected to generate US$1.5 trillion in revenues by 2030, nearly five times its current size.
The Boston Consulting Group (BCG) highlights generative AI (GenAI) as a game-changer, particularly in productivity gains. Embedded finance—integrating banking services into non-financial apps—is forecast to become a US$320 billion market by 2030.
However, Gupta cautioned that financial illiteracy exposes users to predatory practices and cyber fraud. “Many solutions prioritize profit over genuine financial inclusion,” he said.
Balancing Opportunities and Risks in the Digital Economy
While the benefits of technology in the digital economy outweigh its risks, challenges such as cybersecurity, privacy concerns, algorithmic bias, and data breaches persist.
“The most significant danger, in my opinion, lies in the ability of technologies to influence people’s decisions,” warned Khandeparkar.
As AI and the digital economy continue to evolve, one critical question remains: Will human intuition and ethical boundaries be undermined? Only time will reveal the answer.
