Economic implications of digital transformation
In a firm perspective the simply availability of digital systems does not necessarily lead to success. On the contrary, it requires that firms accompany digital resources with the development of best organizational practices which implicates a transformation in term of e.g. organizational changes and innovation. Digital technologies allow companies to improve productivity in two ways: by making hard improvements that dramatically increase the efficiency of intelligent machine and processes, and by making soft improvements that increase the efficiency of people working together. The paper highlights various discussions on the relationship between ICT investment and productivity. However, this framework has outlined a relatively more cohesive body of thought which, by seeking to overcome the controversial concept of the productivity paradox, highlights the existence of a significant relationship, not just between ICT and productivity, but also between certain multiplying variables which represent ICT and other complementary factors.
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