How technology transforms every single part of the economy, with Soumitra Dutta Written by Alexandre Keilmann on April 24th, 2017

In his upcoming presentation entitled « Shaping our digital future », Soumitra Dutta, founding Dean of the College of Business at Cornell University in New York, will share his digital knowledge and expertise with the audience of ICT Spring. His speech is scheduled on May 9th at 11:30. Today, he shares with us his definition of « digital transformation » and its impact on economy.

 

What are the impacts of technology on global economy? What’s your definition of « digital transformation »?

Technology is transforming every part of the global economy. The changes are ubiquitous and fundamental. Digital transformation is not just about changing products and processes – it is much more of a change in mindset. Creating a digital mindset means adopting a different lens to look at oneself and everything around us.

 

Do you think that the delay of institutions in adopting new technologies has an impact on the economic performance? What can be done in order to convince them to finally embrace digital and technologies?

All firms and countries are competing in a global space. To be competitive, one has to be innovative. To be innovative, one has to leverage the new possibilities of rapidly changing technology. Delays in doing so will reduce the competitiveness of companies and economies. They will face the threat of being disrupted by new players.