Digital transformation analysis of the European Union and a statistical approach to demonstrate the positive impact of advanced technologies adoption on the economic performance of the European Union industries


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Digitalización realizada por la Biblioteca Virtual del Banco de la República (Colombia)
  • Ciencias sociales; Ciencias sociales / Economía
  • Digital transformation in the EU; ICT; Big Data; Cloud Computing; 3D Printing; AI; E-commerce; ERP; Added-Value; DESI
  • Europa
  • Colfuturo
  • © Derechos reservados del autor
  • Abstract: What some practitioners coyly called Industrial Revolution 4.0 some years ago is now a reality, and it is drastically changing the way businesses are done in many industries worldwide. The European Union is no exception. Despite being a powerful region, but with conservative, traditional industries, many of these have found it necessary to implement changes in their business models to survive the digital changes. Therefore, the European Commission has prioritized the digital development of the region and the growth of all industries leveraged on the information technologies that can have the most significant impact. As the literature indicates, business models and competitive advantage are complex systems that require essential elements to function synchronously and thus generate value. Hence, cutting-edge technologies play a unique role because they become elements that transform markets and complement the current capabilities of industries and take them to a new stage of development. Therefore, it is essential to know how the adoption of different technologies is related to the economic growth of industries, which technologies generate the most value, and what is needed to drive this growth. This study makes a theoretical review of the impact of ICTs on the European economy, the actions that the European Commission has taken to promote the digital transformation. Finally, it exposes which technologies indeed positively correlate with industries' added value.
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