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The Digital World Expected to Inject Billions into the Economy

The Digital World Expected to Inject Billions into the Economy

PRNewsWire confirms that Digital Realty predicts that the AI, blockchain, IoT and 5G industries will rake in over USD721 Billion in revenure by 2029. Whether it's new businesses, new industries or new public services, the top 10 cities that are predicted to be leaders in that aspect are the following: New York City, Los Angeles, Tokyo, San Francisco, Singapore, London, Chicago, Toronto, Paris and Hong Kong.

This growth comes as no surprise when we factor in how many emails we receive, digital transactions we initiate and internet searches we make. The revenues generated from data is known as the data economy. "We wanted to build on previous reports and uncover the role cities will play in the future data economy," says Chris Sharp, CTO of Digital Realty. "It's no surprise that cities like New York, Tokyo and London occupy a lofty position in the report. Not only are they hubs for the highest density of digital commercial activity and digitally-skilled workforces, but also their laser focus on the creation of new digital technologies and applications makes them prime examples of what's possible in the world's data economy."

According to the source, AI will dominate. The industry will grow by USD255 Billion, adding more than USD5 Billion to each city every year. The fastest growth will be witnessed by the 5G industry. 

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