An Adaptation of Digitalisation Technology Based on the Sustainable Development Regime in the Two-Sided Markets of the BRICS Countries

Abstract

Abstract The globalisation – new technologies, new innovations, industrial revolutions and internet – has influenced the direction and operation of the world’s economy in many aspects, particularly by enabling businesses and people to exchange efficiently, conveniently, rapidly, inexpensively their products, service and information between countries through electronic equipment. The two-sided market serves as a rendezvous for two sets of agents who interact through an intermediary; hence, it can enormously be the place for these agents to exploit benefits, as it plays a significant role in strategic decision-making and economic policymaking. Pursuant to the key objectives of the BRICS, the coordinating policymakers of five countries have been developing and researching the technology infrastructures to present the greater availability of high-quality free-flow data, such as in medical healthcare segment with artificial intelligence (AI) and machine learning, to improve the quality and standard of healthcare. In addition, digitalisation mechanism offers new opportunities to expand businesses in the global market by applying various online tools and digital technologies. This chapter focuses on the importance of digital technology in the global two-sided market, particularly, the BRICS for both providers and consumers, based on the Sustainable Development Goals (SDGs). The author explains the modern approaches to the main characteristics and development of digital technology to marketing strategies. Consequently, a continuing increase of the digitalisation builds efficiencies and advantages in the sharing economy of two-sided platform because technologies keep fuelling economic, industry and infrastructure growth, pushing innovation, contributing healthcare system and escalating employment opportunities, which are the elements of the SDGs.