Understanding the Good Impact of Digitalization on Society

Good Impact of Digitalization

The digital transformation has been a major debate on the social impact of policymakers, economists, and industry leaders. Since digitization hampers society more profoundly, there is a growing concern as to how it is affecting issues such as employment, wages, inequality, health, resource capacity and security.

We have conducted a detailed quantitative analysis of the value at stake against the digitization of 11 major industries to help argue the prospective effect of digital. In each case, we have evaluated the potential value of digitization for industries and emerging sources of value for a wider society measured by deliberate narrow indicators. Over time, this approach can be broadened and refined.

So how can digital transformation make a positive contribution to society, we have focused on three major areas?


1. Employment and skills:

Current estimates of global job loss due to digitization limit of 2 million to 2 billion by 2030. There is uncertainty about its impact on salary and working conditions.


2. Environment sustainability:

According to this historic trend, emission for every 1% increase in the world, GDP has increased by about 0.5% and its resource intensity is up to 0.4%. The existing trading practices contributed to a global gap of 8 billion tones between the supply and demand of natural resources by 2030, translating to 4.5 trillion lost economic developments by 2030.


3. Trust:

Social media, radio frequency identification (RFID) tags and websites generated by the consumer such as trip advisor has played a key role in enhancing transparency and addressing information. However, as per the Edelman trust barometer, there has been a decline in confidence in all technology-based areas and the concern for data privacy and security is key factors. Comprehensive moral questions, as the organizations use digital technology, are posing a threat to erode confidence in institutions where it is used.


·        Make a workforce for machine age:

In logistics and power industries, there can be 6 million jobs worldwide created due to digitization from 2016 to 2025. Automation displaces human beings elsewhere. As a result of digital transformation, being both winners and losers, there is a huge premium on the ability of a business to upgrade employees and shape the next generation of talent for the machine age.


4. Focus on making a workforce for the machine age:

The Digital revolution has led to new roles (like search engine optimization manager and social media account manager), new types of organizations (cloud computing providers and social media agencies), and even newer sectors of the economy (digital security and data science). The impact of digitization has also catalyzed the growth of employment in the wider economy. For example, in India, it is estimated that three to four jobs are created for each activity within the business process outsourcing and enabled service sectors.


5. Challenges:

With the pace of technology change, digital technology is fundamentally transforming organizations that make the challenge even more challenging. Organizations should have a consistent strategy, including a plan to innovate workers. While the previous technological revolutions (most particularly the industrial revolution) were taking place over a longer period, the need for business to move faster is the speed of digital transformation. This challenge is equally compelling for governments. There is an urgent need to create a task force for the digital future for potential inequality and wage deflation or social unrest.

How Can Digitization Affect Your Business?

The impact of digital transformation on your business varies, but will often lead to the following benefits of digitization:

·        Increase in income

·        Decrease in operating costs

·        Higher customer satisfaction

·        Reduced fragmentation

·        Optimized operations

·        And more

All of the above benefits of digitization are valuable as they can strengthen your company's grip on the designated market and continue its growth.  Get a business website from the best web development company in Jaipur today. Having a website and online presence strategy allows you to market your business online. A website is also important because it helps establish credibility as a business. ... A website not only gives credibility, but it also helps to give a positive impression that your company is bigger and more successful.

Kumari Ankita

This is Kumari Ankita, blogger, and writer at Tulipshree Infotech. I have done English honors from the University of Rajasthan. My expertise is in writing on various categories like technology, fashion, entertainment, travel, health, and education. I started my blogging journey 4 years back in 2016. And I Always try to discover new trends in the world and love to write blogs about them.

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