The global economy is at a critical juncture. Today, the ability of many nations to sustain their budgets is under immense strain. The costs of government often exceed the productive capacity of the underlying economy. National resources are insufficient and force countries to borrow heavily, leading to chronic debt. In this reality, the future imagined by the UN Sustainable Development Goals (SDGs) — one of balanced budgets and sustainable development — seems increasingly elusive.
Only a few nations can fund themselves with independent currencies, creating a false sense of stability that does not extend globally. Shrinking tax bases, driven by automation, tax avoidance, rising defense/security spending, and health costs, further exacerbate the problem. Even the wealthiest nations have become more reluctant to donate to the international development initiatives that the SDGs require. As a result, the pool of funds available for multilateral and bilateral development support is steadily shrinking.
This stark reality presents significant challenges.
The need for growth in SDG-supportive enterprises and enhanced global cooperation has never been more urgent. It is no longer simply a question of “financing” a sustainable and equitable future. The pressing question is: How can we mobilize public will and harness global talent, labor, and capital to ensure the achievement of the SDGs in every nation and every community?
This is where modern technology can play a transformative role. Machine learning, artificial intelligence (AI), and other advanced digital tools hold tremendous potential to support global cooperation, innovation, and progress toward SDG targets. AI’s application in sectors such as agriculture, healthcare, and urban planning already showcases the substantial benefits these technologies can deliver. However, their true impact will depend on responsible development, equitable access, and their ability to address complex socio-economic and environmental challenges. While digital technologies are While digital technologies are not a panacea, when developed and deployed responsibly, they can significantly complement human efforts to drive sustainable development.
The adoption of the Pact for the Future (Global Digital Compact) is a positive step toward enhanced global cooperation, but it remains insufficient. As the UN Secretary-General highlighted during the Unite Nations General Assembly, we are only 17% of the way toward achieving the SDGs by 2030. With less than five years remaining, it is clear we are likely to fall far short of these targets. Given this sobering reality — along with dwindling resources, rising nationalism, and escalating global tensions — a radical reassessment of international attitudes and approaches to human development is urgently needed. We cannot afford half measures or efforts that fall short of the SDG ambitions. The stakes are too high for anything less than bold, transformative action.
More soon…