Quote from: uche6215 on October 25, 2024, 01:49:36 PM

Digital Economy entails the economic process that involves connecting peoples, business, information, data etc it involves the online transfer of information and transaction across multiple channels for the purpose of business growth and getting a wider market Base.
Some aspect of digital Economy includes
_E commerce
_ Social Networking
_ Digital Entanglement
_ AI Automation etc
In this present world economy there's need for companies to go digital with their business as their are allot of benefits attached to it, some importance's of Digital Economy includes
Reduced cost
A wider market Base
Increased productivity
Creates new Revenue streams
Access to more data
Improved customer experience

The digital economy is transforming the way business is done by leveraging web platforms and technology to connect people, businesses and information across a wide range of areas. Including e-commerce social network digital connection and AI automation, embracing the digital economy offers many benefits. Including reducing costs through automation. Globally accessible market share Increased revenue from efficient processes and access to new digital products and services. Businesses also have access to valuable information to make better decisions. and can improve customer experience through efficiency and service. in the current economy Adopting digital technology is essential for any business that aims to succeed. This is because they are more beneficial than traditional technologies in promoting sustainable growth and competitiveness.

Quote from: tabas on Today at 04:54:25 AM

The digital economy is such a big industry and I've read some quotes in the past that if a business is not on the internet, soon, they'll be out of business. And that seems to be a true thing while for some chosen niches and industries, they can thrive even without the use of the internet and even if they can't go online/digital. While it's also being pressured because of the development and advancement of AI, I believe that this is where things are going to go into this digital and gig economy.

Of course, it's changes through advancements in AI and other digital technologies. It is high time for businesses to adapt. These innovations not only make work easier. But it also opens up new opportunities. in growth and income as well. The gig economy is a perfect example of how digital platforms can revolutionize traditional business models. Change and create new opportunities to both entrepreneurs and companies. In this regard, businesses need to embrace digital transformation to remain competitive. Companies can cut costs through the digital economy. Reach a wider audience Improve customer experience and ensuring they remain effective and successful in an ever-changing market.