The future of Digital Economy, digital tools, from farming to healthcare, communications to education, have fundamentally transformed communities and raised living standards around the world. Growing network connectivity and information sharing have raised living standards in modern times even further.
Despite this potential, there are a number of barriers to expanding access to digital technology globally. One of the biggest challenge comes from fast-paced and diverse technology on one end and a slow to change legacy ecosystem saddled with diverse standards limiting information flows on the other.
Techno-Comp understands this disruption. Our practitioners help transform our clients IT ecosystems by modernizing legacy systems and creating advanced customer-engaging experiences in the digital age.
Today, digital technologies have evolved to include the Internet of Things, 3D printing, robotics, and artificial intelligence. Finding ways to react to and shape digital disruption is featuring on the agenda of every digital leader.
We bring our resources to support your digital transformation. Digitization is no longer just an add-on feature to existing channels or products and services. Instead, many aspects of the customer experience are digital by default, as should be the processes that underpin it.
Leveraging digital technologies is more than just good business—it’s crucial to staying relevant and profitable. Companies lagging in this area risk losing ground to newer entrants and business models that are poised to disrupt markets with innovative products and services.
There are many signs indicating that something new has happened here in the United States and around other economies in the recent years globally. While the surge in labor and total factor productivity growth rates in the latter half of the 1990s was impressive and widely interpreted as a sign of a ‘New Economy,’
We observe changes are at least consistent with the view that digitization of information, combined with the Internet, represents a form of digital technology that is giving rise to a vast new array of possible combinations that we may refer to as the New Economy. The level of connectivity between businesses and their customers is increasing dramatically. We have only begun to see the impact that is measurable.
Interpreted in this way, the New or Digital Economy is about dynamics, not static efficiency. It is more about new activities and products than about higher productivity. What is really important in the Digital Economy is the proliferation of the use of the Internet, a new level and form of connectivity among multiple customer-engaging ideas giving rise to a vast range of value and revenue possibilities.
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