The Impact of Digital Transformation on Economic Efficiency, Risk Management, and Innovation-Driven Development

Chuan Tang; Haizhen Zhang

doi:10.47297/wspeiWSP2516-253506.20240804

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The Impact of Digital Transformation on Economic Efficiency, Risk Management, and Innovation-Driven Development

Volume 8, Issue 4

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The Impact of Digital Transformation on Economic Efficiency, Risk Management, and Innovation-Driven Development
The Impact of Digital Transformation on Economic Efficiency, Risk Management, and Innovation-Driven Development
Hainan Vocational University of Science and Technolog, HaiKou 571126
Vol. 8, Issue 4, Pages: 31-38(2024)
Published： 30 August 2024 ，
DOI：10.47297/wspeiWSP2516-253506.20240804
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Tang Chuan,Zhang Haizhen.The Impact of Digital Transformation on Economic Efficiency, Risk Management, and Innovation-Driven Development[J].Entrepreneurship and Innovation,2024,08(04):31-38.
DOI：

Tang Chuan,Zhang Haizhen.The Impact of Digital Transformation on Economic Efficiency, Risk Management, and Innovation-Driven Development[J].Entrepreneurship and Innovation,2024,08(04):31-38. DOI： 10.47297/wspeiWSP2516-253506.20240804.

摘要

Abstract

Digital transformation refers to the process where companies integrate and apply new-generation information technologies

such as cloud computing

big data

the Internet of Things (IoT)

and artificial intelligence (AI)

to comprehensively reshape traditional business processes

operational models

and customer experiences. This paper explores the impact of digital transformation on three key areas: economic efficiency

risk management

and innovation-driven development. Digital transformation enhances operational efficiency through automation

data analysis

and real-time decision-making. It also improves risk management by enabling better risk identification

response strategies

and data security measures. Furthermore

it drives innovation by fostering an open culture

accelerating product development

and encouraging cross-industry collaboration. Case studies of successful and failed transformation efforts highlight the critical importance of clear strategic planning

organizational change

and employee training. The paper concludes by emphasizing the significance of digital transformation in maintaining competitiveness and provides recommendations for future research and policy development to support the digital economy.

关键词

Keywords

Economic EfficiencyRisk ManagementInnovationAutomation

references

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