The World Bank Group is set to partner with mobile network operators through the GSMA to make use of big data acquired from the Internet of Things to unlock new drivers of economic growth.
Under the partnership, 800 mobile network operators, members to GSMA, will provide data to World Bank projects. The data will be used to develop new solutions to combat extreme poverty.
The partnership will focus on driving collaboration between governments and stakeholders in the communications industry in developing frameworks to increase IoT adoption and security on consumer data.
The development follows recognition of opportunities to make use of IoT data for economic and social development.
According to GSMA, the number of mobile subscribers currently sits at 3.8 billion and is expected to reach 25 billion by 2025, providing governments and stakeholder access to data regarding events happening on the ground in all sectors.
The GSMA also found that people in developing economies have access to a mobile phone than to clean water or electricity.
The announcement follows the World Bank investing about $62 billion to help improve lives in developing countries last year.
For instance, using big data, the World Bank is helping India reduce its carbon footprints.
Bangle-shaped sensors – wearable IoT data collection devices – are allowing users to automatically monitor harmful emissions from their stoves, and the data they generate is helping drive a shift to cleaner cookstoves.
World Bank Group President Jim Yong Kim noted: “The mobile network industry provides the connectivity that is essential...to help make the global market system work for everyone, and meet the world’s rising aspirations."