A Review of Digital Economy in Business
Keywords:
Digital Economy, Internet, Business, ICTAbstract
The economic activity that arises as a result of the billions of daily online connections that are made between individuals, companies, devices, data, and processes is referred to as the digital economy. Hyper-connectivity, which may be defined as the increased interconnectivity of people, organisations, and machines as a consequence of the proliferation of mobile technology, the internet of things (IoT), and the internet as a whole, serves as the foundation of the digital economy. The conceptions of how companies are constituted, how enterprises interact with one another, and how customers receive services, information, and commodities are being challenged as the digital economy begins to take shape and undermine these traditional notions. The global network of economic activity, commercial transactions, and professional relationships that are made possible by information and communications technology (ICT) is referred to as the digital economy.
The transition from the third industrial revolution to the fourth industrial revolution is reflected in the rise of the digital economy. The developments that occurred in the latter half of the 20th century as a result of the shift from analogue electrical and mechanical devices to digital technologies are referred to as the third industrial revolution. This revolution is also frequently referred to as the digital revolution. The digital revolution serves as the foundation for the fourth industrial revolution, which is already underway as technologies continue to bridge the gap between the physical and cyber worlds.
References
[1] Bukht, R., & Heeks, R. (2018). Defining, conceptualising and measuring the digital economy. International Organisations Research Journal, 13(2), 143-172. https://doi.org/10.17323/1996-7845-2018-02-07
[2] Colin, N., Landier, A., Mohnen, P., & Perrot, A. (2007). The Digital Economy. The Digital Economy, 26(7). https://doi.org/10.4324/9780203933633
[3] Digital Agenda for Latin America and the Caribbean. (2021). Digital technologies for a new future.
[4] Ganne, B. E., & Lundquist, K. (2019). The digital economy, GVCs and SMEs. Global Value Chain Development Report 2019, 121-139. https://doi.org/10.30875/2894deeb-en
[5] Kehal, H. S., & Singh, V. P. (2005). Digital Economy : Impacts , Influences and Challenges Digital Economy. In Challenges. https://doi.org/10.4018/978-1-59140-363-0
[6] Lynn, T., Rosati, P., Conway, E., Curran, D., Fox, G., & O'Gorman, C. (2022). Digital Towns. Digital Towns, January. https://doi.org/10.1007/978-3-030-91247-5
[7]Patel, S. (2014). Journal of Environmental Science , Computer Science and Engineering & Technology Section A : Environmental Science Socio-Economic Impact and Genetic Pollution of. 3(2), 828-832.
[8] Purnomo, A., Susanti, T., Rosyidah, E., Firdausi, N., & Idhom, M. (2021). Digital economy research: Thirty-five years insights of retrospective review. Procedia Computer Science, 197(2021), 68-75. https://doi.org/10.1016/j.procs.2021.12.119
[9] Ramija, B. (2020). INDIAN DIGITAL ECONOMY - OPPORTUNITIES AND CHALLENGES. Global Policy, 11(1), 124-127. https://doi.org/10.1111/1758-5899.12745
[10] Semyachkov, K. A. (2019). Digital economy in developing countries: problems and prospects. 81(Mtde), 102-106. https://doi.org/10.2991/mtde-19.2019.19
[11] Spence, M. (2021). Government and economics in the digital economy. Journal of Government and Economics, 3(November), 100020. https://doi.org/10.1016/j.jge.2021.100020
[12] Zhang, J., Zhao, W., Cheng, B., Li, A., Wang, Y., Yang, N., & Tian, Y. (2022). The Impact of Digital Economy on the Economic Growth and the Development Strategies in the post-COVID-19 Era: Evidence From Countries Along the "Belt and Road." Frontiers in Public Health, 10(May), 1-17. https://doi.org/10.3389/fpubh.2022.856142
