NetMission Insight: Digital Economy and Emerging Technologies

Written by Arbi Wijaya (Edited by Jenna Fung)

Our world is full of perspectives. We all are living in different places, continents, countries, cities, and regions so it drives us to explore those perspectives in the vastness of the world. Not yet, the world is being engulfed by the Covid-19 pandemic & has been a very difficult time of adjustment for us all, which forces us to minimize all activities directly and divert the activities by using the internet through online media and technology. This means that the presence of the internet in the midst of the pandemic is a big solution for us all to run our daily activities digitally. In this context, technology makes things easier even in reaching for things afar.

NetMission came as a vessel for all young people to understand the technology’s own role, especially in the economy. Therefore, the digital economy and emerging technologies are crucial fields that we all have to face considering the role of these fields are very close to our daily lives while the pandemic is not over yet. 

Emerging technology is defined as science-based innovation that has the potential to create a new industry or transform existing ones. It represents progressive innovations for competitive advantage in related fields. Technology is rapidly developing due to this pandemic especially in terms of education resulting in a major impact on students all over the world. The Pandemic of COVID-19 has been creating social distancing to keep control of our activities and making it impossible for education to be given the old-fashioned way which means running the activities directly.

Technology has presented us to access the media like zoom, google meet, etc instantly in case of supporting our needs in education. By using them, we can do all stuff more efficiently, effectively and also can improve the level of study even digitally in one time despite having a different time and place. But sometimes, using the technology to advance the activity is not that easy because there would be various technical issues while using them such as troubleshooting the share screen, error of audio and camera, bad internet connection, programs not responding to the media, unsupported devices, and other issues related. 

Besides the various issues above, the presence of technology has helped all people over the world in adopting a better education system in this pandemic situation because every activity turns out to be digitally even for online classes, research, test, and evaluation. As the understanding above, we all can say that technology will improve all aspects of our needs even for the educational experiences.

Adaptive technology and learning systems will boost student’s engagement.  Based on McGraw Hill research has shown that 91% of all students report that adaptive capabilities in a digital study tool are important or very important. Other research from Intetics in the California universities also have shown that 84% of students agreed to use adaptive technology indicate a moderate or major improvement in their grades; 87% of students reported that access to learning analytics can positively impact their learning experience, and 77% of students reported that learning technology increases their engagement in course materials. So that the technology will be very useful if we can use it wisely and have supported tools in daily lives.

The role of technology is not only for education, but also for other needs. For example, the field of economy in a digital way or namely “digital economy”. Digital economy is defined as an economy which focuses on digital technologies and conducts business through markets based on the internet and the World Wide Web (WWW). Currently, all lines of business and government have been digitized so the use of digital systems is much better, more economical and cheaper for our society. Moreover, digitization makes all transactions easier, faster, and more practical when compared to conventional transactions then making the digital economy become the line with the most rapid development in the world.  Therefore, the digital economy plays an important role in society’s development. 

As one of the examples of digital economy’s development, Swiggy has been present to help people’s lives by using the advancement of digital economy and technology. Swiggy is the largest online platform that operates in food ordering and delivering services from India. During the pandemic time, Swiggy has started changing its strategies with 3 new innovations. First innovation, Swiggy has created essential items section on the application to assist Indians to keep staying at home even while using the apps for a safety delivery. Second innovation, Swiggy has added Swiggy Gennie as new features by enhancing delivery services such as fast delivery of everything to the doorsteps and can buy the needs from any stores. Third innovation, innovative and safe food services with a deep-learning algorithm on the apps, safety award system for Food and Beverages Swiggy’s partners, and also can live streaming from kitchens while ensure partners and delivery partners wear masks and follow other safety standards as a form of adherence to health protocols. We all can see that Swiggy has correctly discovered the needs of people there during the pandemic of COVID-19 and addressed those needs directly, not only for Indians but also for small businesses (SMEs) that connected to this online platform. 

As an outline from the explanations above, NetMission has already given important sharing on the field raised above. We all can learn that making innovation is much more important for the better advancement of our society. The presence of the digital economy and technology through more innovations has improved the sustainability of the society from the aspects related so that higher quality digitalization will create a better society.