The digital economy is often hailed as the next big thing of the 21st century. While its benefits are vast, a closer look reveals how it’s leaving behind half the population of the world - women.
The players in digital economies aren’t just developers and CEOs from Silicon Valley, but also women from rural Bangladesh, entrepreneurs from the global south, and let's not forget, the millions of digitally unbanked women across the world.
Bangladesh, a country that catapulted itself from the brink of being a "basket case" to an emerging market darling, is now eyeing its next big leap - building an inclusive digital economy.
But as with all revolutions, there's a catch: who's really benefiting? As we tear down physical barriers and shift toward digital economies, are we, in fact, erecting new, invisible walls?
This is not just about access to the internet, it's about who gets to leverage this digital age for economic empowerment.
Spoiler alert: it's not looking great for women, Yep, despite all of its “feminism starter packs” out there.
The digital economy is expected to contribute over $23 trillion to the global economy by 2025, according to the World Economic Forum. That's a lot of zeros and commas.
Here's where it gets interesting.
Despite this seemingly universal boon, women are 25% less likely than men to use digital technologies, and this gap is even wider in developing countries.
In South Asia, the gender gap in mobile internet use stands at a whopping 51%.
It's like being invited to the biggest, most glamorous party of the century, only to be handed a “women's only” pass for the broom closet. "Specialized", eh?
Let's talk about employment. The International Labour Organization (ILO) reports that globally, women are more likely to work in tower-paying, precarious jobs, often without any digital interaction.
In contrast, men are more likely to be employed in higher-paying, digitally-enabled jobs.
Digital economy, instead of leveling the playing field, seems to be tilting it even further.
The irony? The very tools and platforms that could democratize access to economic opportunities are, in many cases, reinforcing traditional gender roles.
Enter Silicon Valley - the center of tech innovation, The birthplace of billion-dollar unicorns and the notorious “tech bro” culture.
For all its talk about disrupting industries and pushing boundaries, the tech industry has one glaring Achilles heel: its inclusivity, or rather, the lack of it. In 2022, women made up only 27% of the workforce in tech companies in the US.
When you dig deeper, the numbers get even worse. Only 16% of engineering roles and 25% of leadership positions are held by women.
But it's not just about representation. The design and implementation of technology often reflect the biases of those creating it.
Take Al, for example.
An IBM study found that 85% of Al projects were dominated by male teams. This isn't just a diversity issue-it's a product issue.
Algorithms designed without diverse input are more likely to perpetuate existing biases.
Remember the infamous case where an Al recruiting tool developed by Amazon was found to discriminate against women applicants?
That's not a bug in the system; it's a glaring flaw in the development process.
Now, let's zoom in on Bangladesh, a country that's been making headlines for all the right reasons-remarkable economic growth, strides in women's empowerment, and a burgeoning tech scene.
But scratch the surface, and the picture becomes a little blurry.
In Bangladesh, women constitute only 12% of the total ICT workforce. That's not just a gap; it's a chasm like the Grand Canyon.
While the government has made strides in promoting digital literacy and access, cultural and societal norms continue to stifle women's participation in the digital economy.
Take mobile ownership, for instance. Although Bangladesh boasts one of the highest rates of mobile phone ownership in South Asia, the gender gap in mobile phone ownership remains significant.
Women are 33% less likely than men to own a mobile phone. Yes, even in 2024.
This isn't just about access to technology, it's about access to opportunities, information, and, ultimately, economic empowerment.
So, what's the game plan? How do we turn the tide and ensure that digital economies are truly inclusive?
The answer isn't simple, but it's not rocket science either.
It requires a multifaceted approach, blending policy, education, and a good old dose of common sense, which we kinda lack.
Let me start with the basics: education. You can't participate in the digital economy if you don't have the skills, here lies one of the biggest challenges and opportunities.
Globally, women are less likely to study STEM (Science, Technology, Engineering, and Mathematics) subjects.
According to UNESCO, only 30% of the world's researchers are women. In Bangladesh, this number is even lower.
While the country has made significant strides in improving girls' access to education, the pipeline for women in tech remains alarmingly narrow.
This isn't just about getting more girls into coding boot camps; it's about creating an environment where they can thrive.
It's not enough to teach girls how to code; they need to be equipped with a holistic understanding of the digital world.
This includes not just technical skills, but also critical thinking, problem-solving, and an understanding of digital ethics.
Schools in Bangladesh need to integrate digital literacy into the curriculum from an early age, rather than memorizing ICT questions.
This means going beyond computer classes to include lessons on data privacy, online safety, and if I may be bold, digital entrepreneurship.
It also means challenging gender stereotypes in the classroom and encouraging girls to pursue careers in tech.
The writer is an engineer-turned-finance-expert-ESG-enthusiast, and can be reached at [email protected]
