What is the latest digital technology

Digital technologies

Machines that replaced the handicraft instrument were the starting point of the industrial revolution that began in the 18th century. In our time, digital technologies based on hardware, software and networks are fundamentally changing the worlds of life and work. Will the mental work now be replaced? According to Brynjolfsson and McAfee (2015), researchers at the Massachusetts Institute of Technology (MIT) in Boston, digital technologies are establishing a second machine age. Its distinctive features are the "sustained exponential development of computer technology in many aspects, unprecedentedly large amounts of digital data and innovation through new combinations" (ibid., P. 112). This made artificial intelligence and a global digital network (Internet) possible. New measures of accounting and prosperity (GDP) are discussed.

On the one hand, fundamental technologies are a source of enormous technical progress in production, for consumers and in science, but they also bring delicate challenges for mankind and the environment. The risks of digital technologies include the effects on growth and employment (growth theory), the distribution of income and wealth (concentration theory) and democratic freedoms. As in the first machine age, this provokes the influence of politics.

For corporate management, business model innovations (business model) in the strategy and intelligent processes (process organization) in the organization are relevant topics - in addition to crowdsourcing, cloud computing, big data, the Internet of Things, mobile Internet, social networks, etc. - which are brought about by digital technologies and are decisive for success. According to Kreutzer and Land (2013), digital Darwinism is the consequence.