By Leroy Ferrao- DIGITAL LIFE STRATEGIST, AUTHOR & SPEAKER
SUPER LIFE STRATEGY NO:15 FOR THE DIGITAL ERA
How can we make the most of our cities, economies, and environment in the future? The answer may be to transition to a digital economy as soon as possible.
The Digital Economy: Why it Matters?
Three Reasons to Transition to the Digital Economy NOW.
1.Taking the appropriate action at the appropriate moment. We must make the best choices for ourselves. Transitioning to a digital economy today, for example, may be the prudent choice because many other countries, particularly China, have already done so. If we make the shift now, we will be able to look back in 30 years and see that we made the right decisions.
2.Getting in early offers us a leg up on the competition. Many firms throughout the world are making the transition to digital. This suggests that we must “get on board” and follow suit, or we shall lag behind.
3.We can buy time now and save money afterwards. We have a lot of alternatives and choices in the digital age. We can purchase more time for our firms and be more adaptable in the face of change. More options mean more prices, therefore it’s best to pay for them immediately. We must make many selections swiftly and with speed in the digital age. There are numerous benefits to getting in now, including the opportunity to learn from those who have already made the move to the digital economy.
Here I have listed 5 key points why you need to transition to the digital economy now.
#1. The digital economy and your career
The change is taking place as digitization and automation become more commonplace in workplaces around the world. People are encouraged to stay flexible and maintain up-to-date with their abilities in order to prosper in this new economy. People will need to accept flexibility and have excellent skills in an increasingly digital workplace.
The digital economy demands a great deal of flexibility. People can stay up with shifting norms and standards by embracing new technology.
These adaptabilities are important because they can assist workers in staying on top of industry changes and issues. Other job qualities include strong interpersonal and communication abilities. These abilities are important because they enable employees to understand how to engage with and relate to a variety of people. Communication skills, empathy, social intelligence, and strong analytical skills are all included in the article as essential skills in the digital economy.
#2. The digital economy and your work.
It is essential to transition to a digital economy now in order to survive in today’s market. Not only is it easier to shift to a new digital economy than it is to a new physical economy, but a digital economy will also help prevent the economy from collapsing due to a lack of resources such as fossil fuels in the long run. A new digital economy is easier to adapt to than a new physical economy.
In a new digital economy, this means that many jobs will be lost, but it also means that employees will be able to apply their abilities in new ways. More jobs will be created than we can imagine. New technology provides new riches and new types of occupations, as history has shown. What’s uncertain is how quickly things will shift. Many economists believe that technological progress is progressing faster than ever before.
A world with more possibilities. The next generation will have more options in a digital economy than the previous generation.
#3. The economy has changed since the Digital Revolution.
Some economists feel that the Digital Revolution had such an impact that it permanently altered the global economy. Digitalization has become a need as a result of global new technologies. However, as helpful as the Digital Revolution is in fixing many problems, it is not without its drawbacks. It will, for example, lose many jobs and may result in a generation of individuals who are unable to do anything but operate online. While digitalization is the way of the future, we must not forget our past.
#4.Easier for consumers to access goods and services
Consumers now have easier access to goods and services as a result of the development of digital economies. Since a result, income inequality may reduce, as those who are wealthy will be able to make the most of new technology, while those who are less wealthy would be able to purchase goods and services more easily.
As a result, those with little income will be able to enhance their quality of life.
This is fantastic news because it has the ability to reduce income inequality while also helping the country’s digital economy’s development.
#5.Better access to healthcare will reduce health care spending
Consumers will be able to spend less on items like healthcare as a result of improved access to goods and services, which will result in lower health-care spending. The transition from a cash economy to a digital economy will have a huge influence on society. Companies will need to discover new methods to compete as consumers spend less. In order to do so, they will have to be creative and attentive to their clients’ requirements.
In conclusion,
Consumers will be able to spend less on items like healthcare as a result of improved access to goods and services, which will result in lower health-care spending. The transition from a cash economy to a digital economy will have a massive influence on society. Companies will need to discover new methods to compete as consumers spend less. To accomplish this,
TO KNOW TO TRANSITION PLEASE DOWNLOAD THE EBOOK HOW TO TRANSITION TO THE DIGITAL ECONOMY – 10 SUPER LIFE STRATEGIES
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