Digitalization of a Country

Martin Stefan^*
*Correspondence: Martin Stefan, California Institute of Advanced Management Studies, CA, USA, Email:

Introduction

In digitalization, there is growing discussion about whether developing nations can achieve economic prosperity through industry in the same way that industrialized countries have. Developing countries, on the other hand, have high hopes for digital technology to foster economic transformation and prosperity. Similarly, research on digitization shows that it has an impact on employment, but the causes and consequences need to be investigated further. As a result, both strands of literature gain an integrated viewpoint on structural change and digitalization, which has been largely lacking in the past. Although many countries are attempting to increase income through structural transformation, only a small number of countries have achieved 'development' in terms of GDP and per capita income. In the midst of economic and technological uncertainties, policymakers in many developing nations set lofty goals for digitalization and its positive effects on quickening structural change.

Description

Many African digital strategies, for example, anticipate increased productivity, job creation, environmentally friendly digital transformation in industry, and the transition of countries into knowledge-based economies as a result of digitalization. However, the anticipated effects of digitalization are rarely supported by theoretical or empirical evidence, and it is still uncertain how digitalization will affect structural change over time.

The scientific literature on digitization contains evidence that can be used to inform structural transformation discussions. In contrast, scientific literature on structural change, which is concerned with labor movements and employment developments across sectors, makes it easier to investigate the mechanisms by which digital technologies can influence economic development and affect changes in economic sector structures. Many developing countries are still in the early stages of structural change, with modest levels of economic digitization. Those who have not yet been linked, on the other hand, are blocked off from the benefits of this new era and are falling more behind. Women, the elderly, those with disabilities, people from ethnic or linguistic minorities, indigenous peoples, and residents of poor or isolated locations are among those who have been left behind. Among some constituencies, the rate of connectedness is slowing, if not reversing. For example, the proportion of women who use the internet is 12% lower than that of men worldwide. While the gap dropped in most regions between 2013 and 2017, it grew from 30% to 33% in the least developed countries.

There is widespread agreement that addressing these trends will necessitate changes in our educational approach, such as putting a greater emphasis on Science, Technology, Engineering, and Math (STEM); teaching soft skills and resilience; and ensuring that people can re-skill and up-skill throughout their lives. Unpaid employment, such as childcare and senior care in the home, will need to be better supported, especially as the demands on these jobs are projected to increase as the world population ages. Today, digital technologies like data pooling and Artificial Intelligence (AI) are used to track and diagnose concerns in agriculture, health, and the environment, as well as to do everyday activities like navigating traffic and paying bills. There is widespread agreement that addressing these trends will necessitate changes in our educational approach, such as putting a greater emphasis on Science, Technology, Engineering, and Math (STEM); teaching soft skills and resilience; and ensuring that people can re-skill and up-skill throughout their lives. Unpaid employment, such as childcare and senior care in the home, will need to be better supported, especially as the demands on these jobs are projected to increase as the world population ages. Today, digital technologies like data pooling and Artificial Intelligence (AI) are used to track and diagnose concerns in agriculture, health, and the environment, and to do everyday activities like navigating traffic and paying bills. Almost half of the world's population is connected via social media. It allows people to express themselves and communicate with people all around the world in real time. It may, however, perpetuate preconceptions and sow strife by providing a venue for hate speech and disinformation, as well as amplifying echo chambers. In this approach, social media algorithms might exacerbate global social dispersion [1-3].

Conclusion

However, they have the ability to accomplish the exact opposite. Various digital technologies (mobile Internet, artificial intelligence, Internet of Things, and so on) have dramatically advanced in recent years – since approximately the year 2000 – and have made the transition from professional application to people's everyday life. They can be used to protect and exercise human rights, but they can also be used to violate them, such as by tracking our movements, purchases, conversations, and actions. Data mining and exploitation techniques are becoming increasingly available to governments and enterprises for financial and other goals. Digitalization has revolutionized the economy and society in the same way that the invention of the steam engine and the spread of electricity did. Technology is at the heart of digitalization. On the basis of new digital technologies, digital innovations are created: innovative use cases driven by existing companies on the one hand, and start-ups and venture capital on the other. As a result, numerous public administrations are digitizing their paper records and working with files on their web portals, and markets are evolving at a much faster pace. The effects of digitalization were first felt in the music and media industries. People become more efficient as a result of using digital marketing services, which leads to greater production. Technology has a negative impact on society as well. For example, advances in digital technology frequently result in the extinction of creativity. The introduction of new technology may have a detrimental impact on the economy [4,5].

References

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