Digital Transformation and the World Economy: Critical Factors and Sector-Focused Mathematical Models

The emergence of intelligent computers and robots is accelerating the technological substitution of jobs and the shift in labor demand towards high qualification levels, putting lower-skilled labor at risk. The digital economy is poised to increase the demand for highly qualified specialists in STEM fields, such as robotics engineers, AI and machine learning specialists, and virtual and augmented reality architects. This book explores how the demand for specialized human capital will play a decisive role in increasing the efficiency and productivity of labor in the digital economy, and entrepreneurs who manage to establish a successful process of interaction with intelligent machines will require a deep restructuring of the training system for the digital economy.

Format: Paperback / softback
Length: 235 pages
Publication date: 26 January 2023
Publisher: Springer Nature Switzerland AG

Nanotechnology, biotechnology, information technology, and cognitive sciences are playing pivotal roles in the development of intelligent computers and robots that possess elements of artificial intelligence and intelligent machines. This remarkable advancement is swiftly accelerating the technological substitution of jobs, leading to a significant shift in labor demand towards high qualification levels. Consequently, lower-skilled labor jobs are now facing heightened risks of displacement.

The digital economy is poised to further amplify the demand for highly skilled specialists in STEM fields, including scientific research, innovative technologies, engineering, and mathematics. This demand is driven by the growing reliance on digital technologies in various industries. In addition, there will be a significant need for highly skilled robotics engineers, AI and machine learning specialists, and virtual and augmented reality architects.

To navigate this evolving landscape, this book employs sector-focused mathematical models to examine the crucial role of specialized human capital in enhancing the efficiency and productivity of labor within the digital economy. It highlights the importance of entrepreneurs who can successfully establish a productive interaction with intelligent machines, necessitating a profound restructuring of the training system to cater to the demands of the digital economy. By understanding the dynamics of specialized human capital, this book provides valuable insights and strategies for entrepreneurs, policymakers, and educators to thrive in the rapidly evolving digital economy.

Weight: 385g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030898342
Edition number: 1st ed. 2022