Intriguing Insights Into the Digital Economy

The digital economy is more than a concept that's tied only to information technology. It increasingly intersects with all aspects of business and life. A recently released report from Accenture, "Digital Disruption: The Growth Multiplier," delivers some intriguing insights into this somewhat immature but rapidly evolving space. Among other things, the study found that optimizing the use of digital skills and technologies could generate U.S. $2 trillion of additional global gross domestic product (GDP) by 2020, and that the digital economy is already far larger than most people recognize, at about 22.5 percent of the world's economy. As organizations wade deeper into the digital economy, it's critical for business and IT leaders to understand how investments in information technology impact business and how their organization can harness digital disruption. It's also critical to understand what skills and knowledge are required to navigate this frontier. The report suggests that business leaders focus on three key issues: prioritize digital investments based on value opportunities; establish an industry-specific digital strategy; and create the right environment for digital transformation. Here's a look at some of the key highlights from the report.