Welcome to Digital Economy, also known as Internet Economy, New Economy and Web Economy. What is digital economy? The advent of the digital computer technology had and still has a great impact on how businesses are run and trade is being done. Digital workplace allow easier access to actual meetings and remove the barriers of time, location, devices and network connections.
It provides employees greater work-life balance while increasing productivity and agility for the organization. Examples of digital economy include e-commerce, digital banking, and even traditional sectors like agriculture or cryptocurrency mining or manufacturing that are being affected by the application of emerging technology. Top 5 challenges of digital economy workforce that companies often experience include employee pushback, organizational structure, lack of expertise to lead digitalization initiatives, lack of overall digitalization strategy and limited budget.
The challenges of digital economy are inadequate access to latest technology, sophisticated telecommunications infrastructure, low computer literacy as well as numerous cultural and social economic factors are just some of the challenges that the developing countries have to face. How will you handle the challenges in the digital economy?