Why the Future Is Built on Digital Foundations

Digital World |

Digitalization has fundamentally changed the way everything operates—production, life, learning, and more. The most fundamental change is in the way connections are made: previously, connections between people, knowledge, and businesses were random, uncertain, and localized. Now, thanks to the speed of light and digital technology, on-demand, anytime, and interconnected networks are available, turning the world into a vast network where everything is a node.

This radical shift in connectivity has laid the foundation for everything. People are innovating, business models are changing, and the ways we live, learn, and work are evolving, leading to a constant stream of disruptive innovations and ushering in a new era.
The production and consumption ends essentially no longer need intermediaries, and in fact, they are becoming increasingly less reliant on them. The way we do business and business models are being restructured. If companies cling to old ways and fail to quickly adapt to this change and become digital enterprises, they will inevitably become increasingly detached from users and the market, or at least fall behind competitors who have already completed their digital transformation.
Because they possess direct connections to the market, users, and customers, more agile operational and management methods, and employees with more efficient work models, they also have faster and better innovation capabilities.

Why are future industries important?
  1. Economic growth requires the driving force of future industries.
A typical example is the impact of the pandemic; while physical activities were severely restricted due to isolation and lockdowns, digital technologies rapidly created various digital spaces and services, enabling many industries and businesses to continue operating, effectively ensuring economic recovery and even further growth.
  1. Future industries are driven by the laws of technological development
The development of modern society is a process of continuously illuminating the human technological tree, with the investment required for technological breakthroughs constantly increasing, such as the current internet and artificial intelligence, and future quantum computing and brain-computer interfaces. For these new technologies to truly play their role, they increasingly rely on deep integration of industry, academia, and research to accelerate industrialization and achieve economies of scale.
  1. Finalfuture industries will drive the restructuring of global value chains
Historically, every economic crisis since globalization has been accompanied by industrial revolutions, affecting the global division of labor and value chains. Countries that seized technological development opportunities during economic crises and occupied positions in emerging and high-end industries were the first to emerge from the crisis and become new leaders in the global economy. The impact of the 2020 pandemic will also be a turning point in the formation of future industries and, ultimately, the restructuring of the global value chain.

Digital technology is considered key to future development for the following reasons:
  • Driving Economic Growth:
Digital technology has a significant driving effect on economic growth. By improving production efficiency, optimizing resource allocation, and promoting innovation, digital technology can drive sustained and healthy economic development. Especially in the current context of numerous challenges facing the global economy, the rapid development and widespread application of digital technology has provided new impetus for economic recovery and growth.
  • Improving Quality of Life:
The application of digital technology has permeated every aspect of people's lives, from smart homes to online education, from telemedicine to intelligent transportation, providing people with a more convenient, efficient, and comfortable living experience. With the continuous development of digital technology, more innovative applications will emerge in the future, further improving people's quality of life.
  • Promoting Social Progress:
Digital technology also plays a vital role in social governance, public services, and cultural heritage. For example, big data analysis can better understand social needs and issues, providing a scientific basis for policymaking; digital public services can improve government efficiency and enhance citizen satisfaction; and digital cultural heritage can protect intangible cultural heritage and promote cultural diversity and innovation.
  • Promoting Global Cooperation:
The development of digital technology has accelerated globalization and strengthened cooperation among countries. Through digital technology, people can communicate and collaborate across time and space to jointly address global challenges. Furthermore, digital technology provides new opportunities and platforms for global trade and investment.
In summary, digital technology plays a vital role in driving economic growth, improving quality of life, promoting social progress, and fostering global cooperation, and is therefore considered crucial for future development.

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