The economy is digitizing at a rapid pace, giving businesses the opportunity to operate more efficiently at lower costs. Yet we aren’t seeing faster global growth or productivity. Why?
The New Digital Economy is in an installation phase: new technologies are emerging and disrupting business models, but not all firms or industries are leveraging them. A deployment phase in which technology becomes the “new normal” may usher in more growth and productivity—if firms also integrate their unique knowledge-based assets and STEM and tech-savvy workforce into their innovation processes.