The applications of new technologies would help in the acceleration of sustainable development in third world countries.

 Humans live in an era, which is heavily guarded by society and governed by technology. Partnership across various sectors has been observed to be lucrative in improving businesses and enhancing the supply chain demand. The insights acquired by the massive-market based thinking can be utilized in creating business platforms, that would be spacious to acknowledge the scope of a new business venture. This humongous market-based insight is also applied in reimagining the existing transformation and indulging to reform the global policies, which is imperative to observe the present narrative.However, the utilization of the Open-Digital Ecosystem, should not be limited for enhancing that sector of the society which has a ubiquitous abundance. The focus must lie on that segment of the society, which are deprived of enjoying such privileges.

The third-world countries are often being sympathized and empathized for the lack of governance, and mismanagement rendering them to be at the backlog of development. Nonetheless, one cannot deny the fact that while developed countries have been enjoying new technological advancements, integrating them in their existing work-culture, and moving towards a digital transformation, the third-world countries are yet only hopeful for these advancements to be utilized in the imperative sectors. This deprives them of moving towards the dawn of technological revolution, that has long been awaited.

That’s why it becomes imperative for society to focus on those segments or countries that have been devoid of the utilization of technologies. To achieve this aim, the collaboration of multiple players, like the individual, the media, the civil society, the market structures, and all the providers would be imperative, for moving forward towards a new way of thinking.

Thus with the help of new technologies like blockchain, artificial intelligence, and 5G communication, the prospect of improvement in these deprived sectors of society has an immense possibility.

Improving Healthcare Sector with AI and blockchain
 As the COVID 19 struck the global healthcare sector, the UN released the US$15 million for helping vulnerable countries, to battle the spread of the coronavirus. Followed by which the WHO called for the utilization of US$675 million, to support developing countries in fighting against Coronavirus. However, despite the many funds released by international organizations, the healthcare sector in these countries has been frail.

It has been observed that most of the developing countries are unable to maintain the data in the healthcare set-up, which makes it difficult to organize and maintain the ecosystem. One alternative that is viewed, to have a potential impact in maintaining the data is by utilizing technologies such as AI and blockchain, which have been observed across many institutes.

A research paper named “The design and development of Technology Platforms in a Developing Country healthcare context from an Ecosystem Perspective”, was conducted, which states that the application of digital tools, would help in tailoring a healthcare framework in developing countries. Even though the study was based on improving the healthcare environment of Sub-Saharan countries, the two frameworks can be applied in other third world countries as well.

This includes building an ecosystem, that would guide the digital platform for considering the different actors in the ecosystem, and for developing a typical platform development, where the viewpoints of different actors can be displayed.

Integrating health set-up with technology such as artificial intelligence would provide an opportunity for maintaining the data and information of the patients, which will in turn provide ease of treatment to the people of that particular area.

By instituting blockchains, the organizations can track down the funds utilized by the government authorities and track down the improvement of the health-care sector. This will maintain transparency and incorporate trust amongst the government and people.

Banking

One of the major challenges that third-world countries like Venezuela, is grappling with is corruption at the regional level. The bank frauds in India can also be not ignored while talking about corruption and misuse of money. The PMC bank scam of India is amongst the most critical and controversial fraud that the country has witnessed over the years. That’s why to counter this utilization of blockchains and artificial intelligence, would enable the authorities in reforming this sector.

With the application of AI technology like machine learning, the paperwork regarding loan can easily be scanned. This in turn will help the bank authorities in identifying people who have urgency in acquiring the loan. Based on the record, by using machine-learning, the possible fraudsters can also be identified.

For mitigating the misuse of citizens’ money, the utilization of a block-chain would help in maintaining transparency. As blockchain does not include any central authority, the information remains public, which means that any citizen can easily observe the amount of money deposited or taken without any modification.

A Single Card for reaping all the benefits

Most of the population in third-world countries live in a space, where they are unable to maintain important data like bank details. Digitizing all the necessary information in a card would help in maintaining the information of citizens which can be monitored by a central agency. In this regard, India’s Aadhar Card can be viewed as an example, where information of most of the citizens are digitized and maintained.  Though a certain leeway must be provided while maintaining the data so that the information can be maintained but with a strategic approach this can be managed.

Thus to provide the third-world countries with maximum benefits, the strategical approach involving new technologies, must be applied and utilized. Experts view that the application of these technologies can benefit third world countries to a great extent.