Concepts of Digital Economy and Industry 4.0 in Intelligent and information systems
Abstract
The digital economy is advancing at an exponential rate, mostly in developing nations. However, the major definitions and metrics of the digital economy are both divergent and limited. The major purpose of this research is to evaluate what is presently identified to come up with the preferred meaning of digital economy, including size estimations. The research posits that there three major relevance scopes. The foundation is digital economy is the digital segment, Information Technology (IT) segment providing critical digital services and goods, true digital economy, which is known as the segment of economic output determined primarily and solely from digital technology with business frameworks based on digital services and goods. Digital economy integrates the digital sector in addition to Internet of Things (IoT), emergent platform and digital services. The wider scope includes the application of economic segments known in this case as digitalized economy.