The Digital Economy has crept into our lives for almost 2 decades. Sometimes, it is called the Internet Economy, empowered by 3 main components – the supporting infrastructure (hardware, software and networks), e-Business (how business is conducted over computer-mediated networks), and e-Commerce (online order and delivery of goods).
The middleman is disappearing. Businesses can be connected directly with customers as technology facilitates the exchange of information between product/services providers and customers. There are new ways to create and add values in the process in order to survive.
The Digital Economy is largely based on using information technology to develop new products and services. In the innovation economy, human imagination and creativity are the main source of value. In a digital economy, the challenge lies in creating an environment which encourages and rewards innovation.
The convergence of computing, communication, and content is taking place. These together create the interactive multimedia platform on which the new age is dependent upon. Application of ICT such as Cloud Computing, Mobile Technologies, Big Data Analytics, Internet of Everything (IOE), 3D Printing, and Interactive Multimedia Technologies need to be bundled differently to change the behavior of customers for better customer engagement and experience.
The Digital Economy creates opportunities for the banking, healthcare, retailing and distribution, design and manufacturing, government, leisure travel and tourism, learning and education, entertainment and media, and more. Some of the success stories will be presented in the HKICC 2015.
May I wish HKICC 2015 every success in its endeavor!
Edith Mok |