By Akfoss – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=36601404

In short, it has been realized that the digital revolution is delivering an unprecedented set of tools for bolstering growth and productivity, creating wealth, and improving the world.  But we can only create a society of shared prosperity if we update our policies, and organizations to seize the opportunities and address the challenges brought by these tools.  Individuals are using global digital platforms to learn, find work, showcase their talent, and build personal networks. Some 900 million people have international connections on social media, and 360 million take part in cross-border e-commerce. Digital platforms for both traditional employment and freelance assignments are beginning to create a more global labor market.

The emerging digital consumer economy will be characterised by the empowerment of consumers through pervasive digital devices, which are embedded with sensors. These devices provide anytime, anywhere access to contextual real-time information that customers need in order to make rapid decisions. The consumers are also hyper-connected with one another via social networks and shared intelligence.

New digital trends such as cloud computing, mobile web services, smart grids, and social media, are radically changing the business landscape, reshaping the nature of work, the boundaries of enterprises and the responsibilities of business leaders.  These trends enable more than just technological innovation. They spur innovation in business models, business networking and the transfer of knowledge and access to international markets.  Regardless of location, firms looking to grow must engage with the parts of the economy that are flourishing— the digital marketplace and the emerging world.