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For Professional Clients and, in Switzerland, for Qualified Investors only. In Israel for Sophisticated Investors only. BNY Mellon Investments Switzerland GmbH is a financial services provider in Switzerland and is required to categorise clients, excluding financial intermediaries, in accordance with the Financial Services Act (FinSA). For the purposes of this communication, we have categorised you as a professional client. Professional clients are entitled to provide notification in writing if they wish to be re-categorised.
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IDEAS AND KNOWLEDGE TO INSPIRE YOUR INVESTMENTS THINKING
1 July 2021

How can we fix the digital divide?

Recent government action highlights potential progress in closing the digital divide by boosting access. On March 4, 2021, the Biden Administration received a bipartisan letter from four US Senators urging them to redefine and modernize the definition of high-speed broadband services across the internet. These Senators propose adopting a new national standard and plans to deploy symmetrical 100 mbps service across the US. Additionally, the FCC announced the creation of the Broadband Data Task Force in February this year.

 

Private enterprise is also working to close the digital divide. Many companies are donating and/or subsidizing equipment and services to underserved regions. In fact, some of the largest telecommunications companies in the US are making multi-year commitments to provide free equipment and services to vulnerable communities.

 

Looking beyond traditional connectivity and hardware-related needs, we expect many communities may require technology training and support to fully join the digital economy. We continue to monitor this space as we seek to identify those who can reduce this friction with training deliverables and close the digital divide to unlock the latent growth potential in these underserved communities.

 

Rob Zeuthen, senior portfolio manager on the BNY Mellon Small Mid Cap Equity team, and Ryan Delisle, research analyst on Mellon’s investigative research team.

 

Doc ID: 613200

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Investment Managers are appointed by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA), BNY Mellon Fund Managers Limited (BNYMFM), BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) or affiliated fund operating companies to undertake portfolio management activities in relation to contracts for products and services entered into by clients with BNYMIM EMEA, BNY MFML or the BNY Mellon funds.

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