What is New Economy?
When we speak of the New Economy, we refer to all the economic, social and cultural phenomena associated with the development of ICT, that is, information and communications technologies. The companies belonging to the economic sectors that are part of this development have been characterized by sustained growth rates and a large and dynamic market. In particular, we can talk about the emergence of a new economy whenever the introduction and diffusion of new technologies bring about profound economic and social changes, with a consequent acceleration of wealth growth, of productivity, social development, and the transformation of the same ways of life.
In this context, it is the advent of the digital economy that has revolutionized traditional consumption models and competitive market dynamics, favouring the process of digitization towards companies, individuals and public administration.
The role of the IoT in the New economy
The new economy lays the foundations on modern concepts such as software, innovative ideas, information as a good of exchange. The aim is to improve production efficiency through an increasingly greater interaction between man and machine, in fact the driving force of this change is that of ICT (Information and Communication Technologies).
The Internet of Things (IoT), understood as the set of technologies that allow physical objects and devices to generate data and share them with other objects in order to make them “smart”, is one of the most relevant innovations of recent years. In the current technological landscape, the IoT is the fulcrum of the innovative paradigm: in fact it strengthens the database to be analysed through Big Data technologies, Analytics, Machine Learning and Artificial Intelligence and makes Blockchain technologies indispensable to ensure scalability, reliability to connected environments and respect for privacy. The use of IoT technologies in the Consumer world revolutionizes not only business models, but also the way to compete, the business organization and the entire value chain. For example, the data collected allows companies to offer solutions and services instead of end products, and the entire value chain is transformed
Knowledge, experience, training, information and innovation are the new drivers of value creation in today’s economy, in some cases taking on greater weight than physical assets or financial resources.
The benefits of New Economy
Among the many advantages in using this new concept of doing business there is first the corporate digitalization open to all sectors, regardless of the degree of complexity of its processes. Digitalization is open to every sector, from accounting to the production area and marketing to communication. Moreover, the innovation and the digitalization of some areas of the business productive processes allows a saving of staff and time above all in the management of the bureaucracy, of the accounting and of all those tasks that. Before, they provided for the sending and distribution of paper material. Documents are now digitized, allowing greater availability and considerable time savings.
The companies of our time have learned to focus on investments that aim to contain costs but also to keep up with the times. All companies that have turned to industry specialists such as arimas®, to speed up their internal and external processes, have allowed innovation to improve their business style by giving them the opportunity to grow in different areas and to diversify their products and, consequently, their customers.
Our team believes that the future lies in digital innovation and is a leader in consulting, technology services and digital transformation. The right frontend to face the daily challenges of customers in the continuous evolution of the digital world.
