Digital technologies

Abstract

This paper introduces digital technologies and their economic properties. Specifically, it summarizes the main technological and economic characteristics of key digital technologies, including the Internet of Things (IoT), Artificial Intelligence (AI), Blockchains, Cloud Computing, and Data Analytics—collectively referred to as IABCD or the “digital technology” framework for short. A main technological characteristic is the interconnectedness of digital technologies to unleash their potential. The economic properties of IABCD primarily include cost reduction, network effects, economies of scope, innovation facilitation, resource sharing, and others.

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