the fundamental drivers is digital transformation. There are four fundamental areas of digital transformation central to business success in the digital economy. The way in which western businesses invested in physical infrastructure to support the communications revolution during the dotcom bubble made the process of integration of the world economy easier. The famous author and cheerleader for globalization, Thomas Friedman, in his book. Its about using the latest technology to do what you already do but better. Alibaba, the most valuable retailer, has no inventory. As the next paragraph points out, China leveraged the spread of IT and communications technologies in a different manner. The global economy is undergoing a digital transformation as well, and its happening at breakneck speed. Information and Communication Technologies are transforming the ways social interactions and personal relationships are conducted, with fixed, mobile and broadcast networks converging, and devices and objects increasingly connected to form the Internet of things. Recently, TechCrunch, a digital economy news site, noted, Uber, the worlds largest taxi company, owns no vehicles. This is also proved by the rapid spread of mobile technologies in Africa, India and China that attests to the trend described here.
The backbone of the digital economy is hyperconnectivity which means growing interconnectedness of people, organisations, and machines that results from the Internet, mobile technology and the internet of things (IoT). The digital economy is taking shape and undermining conventional notions about how businesses are structured; how firms interact; and how consumers obtain services, information, and goods. So, what is the digital economy? This volume also includes a chapter on developments related to trust in the digital economy and on the emerging Internet of things. Facebook, the worlds most popular media owner, creates no content. The point here is that after the dotcom bubble burst, there was excess capacity in the broadband infrastructure which meant that communications costs came down drastically.
Microelectronics from Germany, driver of innovation for the
Click to Read online and share. The classic example in this regard is India that has managed to tap into the booming market for IT and process outsourcing. The Global Interconnection Index captures a critical component to enabling digital business: Interconnection. And Airbnb, the worlds largest accommodation provider, owns no real estate Something interesting is happening. Click to access: Click to download PDF -.23MB, pDF, click to download epub -.42MB ePUB. How will you adapt to the emerging fluidity found in traditional roles? Chapters include an overview of the current status and outlook of the digital economy; the main trends in the ICT sector, and developments in communication and regulation policy; and overviews of ICT demand and adoption, plus the effects of the digital economy on growth and. Professor Walter Brenner of the University. Authorship/Referencing - About the Author(s the article is Written By Prachi Juneja and Reviewed. To Know more, click. The World is Flat identified some key drivers of globalization. The digital economy now permeates countless aspects of the world economy, impacting sectors as varied as banking, retail, energy, transportation, education, publishing, media or health.