|Tweet #gfke||Watch the Webcast|
A confluence of significant technological, social and economic trends is generating huge streams of data, commonly referred to as “big data”. Creating economic value from these large data sets is at the leading edge of business innovation, with companies that base their decisions on data and analytics outperforming other firms in terms of productivity growth. Innovation will be further driven by open access to data which also enables consumers to be better informed.
In addition, substantial social benefits are also expected from collection and analysis of data, for example, when addressing aging society and natural disasters. However, the use of data and analytics come with serious policy challenges including, but not limited to, the promotion of trust among individuals and consumers and the development of data-analytic skills that if not supplied could lead to missed opportunities for job creation in the data-driven economy.
The Global Forum on the Knowledge Economy (GFKE) aimed to strengthen OECD global relations on the contribution of science, technology and innovation to the knowledge economy, which is essential for designing policy frameworks that will drive growth and well-being in the 21st century. It provided a vehicle for dialogue among policy makers, business, consumers and other stakeholders in Member and Partner (i.e. non-member) economies on policy approaches that will help expand the benefits of the knowledge economy to all countries.
The overarching theme of the GFKE 2014 was data-driven innovation for a resilient society. The event accelerated discussions at the international level on the collection and use of data throughout the economy and society for enhanced growth and well-being. You can view highlights from the event here.
The GFKE is an annual event, with varying themes, open to participants from OECD member countries and partners outside the OECD membership. The first event was held in Paris in September 2011, the second was in Korea in September 2012 and the third in October 2013 in Turkey.