Get to Know These Technology Trends in the Digital Economy

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The internet and technological advancement have revolutionized the way people interact with each other. The prevalence of the use of technology has even given rise to the so-called digital economy.

Commercial relationships that were previously done in person were entirely transferred to the digital environment, creating opportunities and challenges for companies.

The era of the 4th Industrial Revolution, marked by the convergence of digital, physical, and biological technologies, is also the era of the digital economy. Technological innovations daily break old barriers. And they offer valuable opportunities for companies to reinvent their business models amidst digital advances.

And there is no shortage of businesses that have followed the trends of the digital economy era. Therefore, today, they already understand the needs of customers to create or optimize their services.

Online shopping, digital banking, digital private transport services, music, film, and series streaming platforms are some of the examples of businesses that have innovated the market and transformed the way people consume these services.

In this article, you will learn some technology services in the digital economy to display in the market to help advance more efficient work for everyone.

What is the digital economy?

This is a reality much more present in our lives than we realize, but it is directly related to our habits.

Technology is at the center of all this transformation, implying a restructuring in the production, distribution, sale, and use of products and services. There is a change in the consumer profile, favored by the facilities that technological tools provide.

Therefore, in recent decades, we have been going through a transition from the manufacturing economy to the digital economy.

While in the last century the large companies that dominated the economic scenario were concentrated in segments such as steel, oil, and vehicle production, for example, today things are already quite different.

Companies focused on innovation and technology, which develop equipment, devices, software, platforms. And services in the areas of entertainment, communication, and IT, are the main highlights. We are talking about powerhouses like Apple, Microsoft, Facebook, and Amazon, etc.

How does all this affect companies?

The pandemic meant that many companies had to accelerate the process of digital transformation, as the home office was the only possible way out for many organizations to keep functioning.

The challenges of telecommuting, considering the need to work on a new management model, maintain productivity. These adapt to the use of technology and its facilities, ensure the security and availability of information, among others.

How does the digital economy work?

The digital economy works using the integration of various technological resources to streamline products and services so that they are made in the digital environment. The idea is to integrate information, management systems, cloud storage, and social networks to do business without having to go anywhere or use physical means of payment.

What are the pillars of the digital economy?

The digital economy focuses on three principles for creating innovative products and services in the sector. In some cases, it may be the transposition to digital of something that was previously done in the physical world, such as electronic invoices and delivery receipts, or services that were never imagined before.

Connectivity

Connectivity is an essential element of products and services in the digital economy. A quality connection with low latency and reliability enhances the customer experience in the digital environment. Only then will customers feel safe to abandon the use of in-person options.

Information security

Without information security, it is not possible to complete deals, especially those involving confidential information or payments. This is an area in expansion, with the creation of new rules to regulate the matter. Anyone who wants to gain more customers must invest in information security.

Excellence in execution

Anyone who wants to work with the digital economy must be prepared to plan and fulfill the plan. Excellence in execution implies doing well and doing it fast. As technologies and priorities are constantly changing, companies must keep in mind that they need to get it right the first time.

The digital economy is a market trend that increasingly allows relevant products and services to be in the digital environment. Knowing this trend expands the range of options for creating products and services within the software house.

Adjusting the company’s way of working with a view to more connectivity, information security, and excellence in execution ensures the improvement of products and services.

The trend of an increasingly digital world cannot be ignored by companies that wish to remain relevant in the market.

4 trends to transform the digital economy landscape

1) Artificial Intelligence

Technologies based on Artificial Intelligence are considered by experts as the most promising for the next ten years.

That’s because of the high computational power, the availability of the amount of data. And the constant advances in the segment of neural networks will enable more and more innovations. It concerns products and services in the era of the digital economy.

That is, companies that decide to invest in this trend will be able to adapt to new situations and offer solutions hitherto unknown in the market.

2) UAVs (Unmanned Aerial Vehicles)

UAVs (Unmanned Aerial Vehicles), better known as drones, are on the rise. And the trend is that this technology will continue to grow in the coming years.

Agriculture, infrastructure, energy, oil, and gas, in addition to applications in delivery services, are the segments that will most suffer the positive impact of unmanned vehicles in the coming years.

3) Bitcoin

Also known as cryptocurrency, Bitcoin is a completely virtual currency, which emerged in 2009. It proposes a new economic model without governments or financial institutions. Protected by encryption, works based on a set of rules from processing computers.

Bitcoins allow you to contract services and buy products all over the world through the internet. The number of companies that accept the currency is still small. But the promise is that in the coming years this number will increase more and more.

4) Fintech

Financial services are undergoing a real revolution. And fintech arises to transform the way the user relates to this segment.

Known as startups that develop technological innovations aimed at the financial market, fintech is breaking the standards of this traditional system. It makes services that were not digital until then, such as cards and credit, loans and investments, more efficient, safe, cheaper, and, above all, more user-friendly and closer to the user.

Digital economy and advantages for the corporate environment

The relationship between the digital economy and the corporate environment is very close, as digitalization brings several advantages for companies of all niches.

The impact of these technologies provide, above all, the possibility of fostering business growth. With more options to choose goods and services, it gains more agility and simplification of access to relevant information.

Data valuation

Making decisions based on relevant data and information is not an unprecedented demand. However, today’s access to accurate metrics is increasingly simplified, at the fingertips of any manager.

Reporting, analysis, and, consequently, decision making is much more agile and assertive.

More agile businesses

Find suppliers, contact customers, and hold negotiation meetings. It makes closing deals a much faster process, accelerating the growth of companies.

Opportunities for new business

The abundant access to data from all types of markets allows us to identify pains and demands to be met by new solutions. The digital economy makes it possible to create new services that, were it not for this reality, could not be idealized.

Constant innovation

Agility is important in doing business, wide access to new technologies and networking drive constant innovation. But this is only possible when companies adopt a strong innovation culture, which encourages the discovery of new perspectives to solve problems in all spheres.

The implementation of this type of culture is particularly challenging for large organizations that value the structuring and safety of processes already implemented. But it is possible to combine experimentation with well-defined processes that guarantee the sustainability of the business in the digital age.

What is the future of the digital economy?

  • Increase customer loyalty, considering the competitive scenario and the need for increasingly personalized experiences;
  • Enable open innovation, reinventing the relationship between employers and employees. It understands the impact of digital natives on the future of work;
  • Strengthen resource optimization by thinking comprehensively about how to save time within business operations and processes.

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Leonardo Salles

Copywriter for GitScrum.