Verizon CEO Hans Vestberg talks more about digital growth in a wide-ranging interview on Mornings with Maria.
As the world's business leaders, heads of state and others plan to tackle a host of global issues at the 2024 World Economic Forum in Davos, one CEO calls the “most important” infrastructure focus of the century. emphasized.
“I think one of the most important infrastructures of this century is digital infrastructure,” Verizon CEO Hans Vestberg said Tuesday on “Mornings with Maria.”
“It's so important that people have connectivity and stay connected all the way through digital healthcare, digital education, financial inclusion, and access to services through digital technology. Because we experienced that during COVID-19: If you're not connected, you're not connected.'' It's part of our society. ”
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Digital infrastructure refers to the physical and technological means for transporting and delivering information, products, and services. This has become a key issue facing countries around the world, especially since the COVID-19 pandemic.
Despite efforts by government agencies and telecommunications companies, about a third of the world does not have adequate digital infrastructure in place, Vestberg said.
“We've spent a lot of time on this issue over the past few years, but 2.6 billion people on the planet are still disconnected,” Vestberg told host Maria Bartiromo.
“The job is not just that we need to deliver broadband,” he added. “They also need to be available along with the device at an affordable price, and applications that can be used range from digital education, law, healthcare, and financial inclusion.”
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| VZ | Verizon Communications Inc. | 38.56 | +0.66 | +1.74% |
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Verizon's CEO said the United States is one of the countries in need of expanding its wireless and broadband digital infrastructure.
Last year, the Department of Commerce announced funding to all 50 states, the District of Columbia, and U.S. territories to achieve universal access to reliable, affordable, and high-speed internet by 2030.
$42.45 billion grant program Created in the Bipartisan Infrastructure Act, it funds the deployment of high-speed internet infrastructure through the Broadband Equity Access and Deployment Program.
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Awards ranged from $27 million to more than $3.3 billion, with each state receiving at least $107 million.
Many states are also stepping up investments in digital infrastructure. Last September, Kentucky Governor Andy Beshear announced plans to invest $386 million to expand access to high-speed internet in the state.
“High-speed internet is no longer a luxury,” Governor Beshear said at a press conference. “It's an absolute infrastructure necessity.”
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Efforts are underway in the United States and other countries around the world, but Vestberg acknowledged the “importance” of digital infrastructure.
“Digital infrastructure is becoming increasingly important, becoming part of society and being able to work from home, all of which are important,” he said.
FOX Business' Aislinn Murphy and Julia Musto contributed to this report.
