With a shift away from physical commerce, consumers are increasingly taking their daily activities online. This shift has resulted in new opportunities for emerging digital entrepreneurs to reap the dividends from digital and grow in the digital economy.
The digital economy as we know it refers to the economic activities enabled by digital technologies that connect people, businesses, and processes. It’s the hyper-connectiveness of this economy that allows the ecosystem to grow, and redefines how typical businesses are structured. But how exactly? Through the opportunities created by digital tech, including the Internet, the cloud, mobile technology, and the Internet of Things (IoT).
It’s these emerging technologies that are disrupting traditional business models, leading digital transformation, and redefining how businesses interact with customers and how customers receive and experience services and goods. Being able to thrive in a digital economy will be key to ensuring a competitive edge and business sustainability.
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