What Businesses Gain from Digital Age? |
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May 2012 | |
Digital Age is the 3rd phase of written human civilisation history after the Agricultural Age and Industrial Age. Digital Age is about amplifying the power of our brains whereas Industrial Age was about amplifying our muscular capacity. There is no official date to mark the beginning of Digital Age but we could conveniently associate it to the advent of Personal Computers. Local Area Networks, the Internet, and proliferation of mobile devices follow. New terms such as Knowledge Workers have emerged to denote people who use the brain to produce and they include most professionals such as engineers and lawyers.
The services sector is actually bigger than the tangible goods sector in many countries including New Zealand. Services that make use of digital power are the main contribution to GDP growth. If we assume an annual growth rate of 2.4% (exclude 2009 to 2011), our GDP will be doubled in 30 years. This means the digital economy is as big as the non-digital economy by around year 2020.
Businesses must invest in digital technologies to improve productivity and competitiveness. Do not give up your business assets if they are critical for business operation and growth.
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