Open-source software in emerging technologies for economic growth

Abstract

The growth of the economy is one of the aims of every country, as it ensures an improved standard of living for the citizens of such countries. One of the ways this economic growth can be achieved is by investing in technologies that can yield more efficiency in operations while reducing overall costs. The developed nations have more economic prowess because of their heavy investment in technological development, which sometimes could be elusive in developing nations. Open-source software, however, levels the playing ground as it presents strengths that can drive innovation faster than can be achieved with the proprietary software development paradigm. Emerging technologies on the other hand present transformative powers that can catalyze the economic growth of the countries that can efficiently apply them. This paper examines the key characteristics of open-source software alongside emerging technologies to establish the impact of open-source software on emerging technologies and its wider impact on economic growth. Specific emerging technologies where open-source concepts are being applied were examined to reveal the positive impact of open-source software, while at the same time, specific emerging technologies that are creating disruptions that drive economic growth were investigated. It was finally concluded that open-source software presents key strengths, which when combined with the disruptive powers of emerging technologies, presents tremendous potential to increase the economic growth of the country in which it is implemented.