Probably the biggest revolution of the modern era, particularly in the 21st century, is the intrusion of technology into every facet of society. If you read my previous articles on “The Digital Impact on Aviation”, you might have gotten a glimpse of this pervading influence on our lives. In reality, the digital impact has been much wider and is increasing at an astronomical rate.


So what is the Digital Economy?

I have given a brief explanation, below, of the nature of the digital economy – culled from my seminars on the subject.

The Digital Economy, also known as the Internet Economy, the New Economy, the Web Economy, or Networked Economy, refers to the transformational impact which information and communication technologies (ICTs) are having on every single aspect of business activity.

The digital economy is based on the networking of human intelligence (brain power) and refers to an economy that is based on digital technologies, including digital communication networks (the Internet, intranets, and private value-added networks or VANs), computers, software, and other related information technologies.

The concept of digital economy is stressing that our current economy is significantly impacted or influenced by digital technology or information technology. The digital technology or information technology are producing new ways of working, new means and manners of communication, new goods and new services, and new forms of community.

In the digital economy, the single most critical resource is not capital assets (buildings, vehicles, equipment), not monetary assets (cash), not even labour (the physical effort expended by employees). The single most important resource is Intellectual Capital.

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You can learn a bit more about the Digital Economy in my subsequent articles.
However, for a fuller understanding of the subject and/or to learn how your organization can benefit from the Digital Economy, visit the following link: Digital Economy Seminar. For further details or training requests, send an email to seminars@rainbowglobal.co.uk