Digital transformation is the incorporation of digital technology into various aspects of business, essentially changing how it operates and delivers value. It is the move from the physical to digital, disrupting existing business models and creating new ones.
Transitioning to a Knowledge Economy could be a possible solution for Nepal with a landlocked geography and limited industrial base.
The NRB has urged lawmakers in Nepal to amend the Nepal Rastra Bank Act and the Banks and Financial Institutions Act to include provisions related to digital currency issuance.
AI presents transformative opportunities for the education sector in Nepal that ranges from personalized learning experience for students to enhancing administrative efficiency for educational institutions. Nepal can lay the foundation of a dynamic AI driven future in education focusing on strategic investments in research and innovation, education focused trainings, and robust data privacy measures.
The World Trade Organization (WTO) has found that for small and medium-sized firms (SMEs) and startups of least-developed countries (LDCs), digital trade presents more opportunities than challenges.
Although digital productivity offers numerous benefits, individuals and businesses in Nepal continue to face challenges in fully realizing its potential. The sections below examine the different intrusions present in the digital sphere, which are impeding digital productivity.