Evaluating the transformative impact of information technology on the us economy
Architect at Tata Consultancy Services, USA.
Research Article
World Journal of Advanced Research and Reviews, 2024, 23(03), 3214-3232
Article DOI: 10.30574/wjarr.2024.23.3.2506
Publication history:
Received on 12 July 2024; revised on 19 September 2024; accepted on 22 September 2024
Abstract:
The US economy has undergone a significant transformation due to rapid advancements in information technology (IT). This sector has not only streamlined traditional industries but also paved the way for new economic opportunities. It has enhanced productivity by automating processes, facilitating efficient communication, and enabling data-driven decision-making. Businesses across various sectors, from healthcare to finance, rely heavily on IT to improve services and expand their reach.
Moreover, e-commerce and digital platforms have revolutionized retail, creating a global marketplace accessible to consumers and businesses alike. IT has also driven innovation, leading to new industries such as cybersecurity, cloud computing, and artificial intelligence. These innovations have generated high-paying jobs and have been pivotal in maintaining the United States competitive edge in the global market.
IT's impact on education and training has also been profound, providing access to knowledge and skills essential for the modern workforce. Despite its many benefits, the rapid growth of IT also presents challenges, including cybersecurity risks and job displacement due to automation. Addressing these challenges requires strategic policies and investments in education and infrastructure to ensure sustainable growth and inclusivity in the IT-driven economy.
Keywords:
e-commerce; Digital platforms; Cybersecurity; Infrastructure
Full text article in PDF:
This paper has received BEST PAPER AWARD of Volume 23 - Issue 3 (September 2024).
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0