"The new series Digital Progress and Trends Report adopts a holistic framework of digitalization, with selective topics examined in depth in each edition. The framework [...] includes both the production and the adoption sides of digital technologies and their interactions. Box ES.1 explains how the series supports global efforts to study the progress, gaps, benefits, and risks of digitalization. The benefits and risks are also interconnected and reflect the trade-offs and complexity of digitalization: innovation and growth can be accompanied by high concentration and reduced market contestability. Efficiency gains and lower costs for large businesses may mean higher inequality and polarization. Digitalization can create jobs and improve inclusion, but it also results in power asymmetry and makes it easier for governments and companies to monitor and control individuals. Digital innovation creates new possibilities for climate change mitigation and adaptation but expands the carbon footprint of the information and communication technology (ICT) sector. Cybersecurity, privacy, and misinformation are also major risks that can undermine trust in the digital space and circumvent the gains from digitalization. Countries need to maximize the benefits while minimizing the risks of digitalization." (Executive summary)