The last decade has been marked by digital transformation of economies and societies. Large investments in telecommunications infrastructure and the growing number of people with fast Internet connections has resulted in the explosion of innovative Internet services, which impacts the almost every economic activity. Numerous Internet platforms keep growing in size and disrupt competition in new markets. The impact of digital platforms on individuals, households and small businesses is gaining momentum with the emergence of online job platforms, peer-to-peer lending, crowdfunding services and many others.
No business can ignore the digitization process of the economy and society, regardless of size. Industries which seem to be protected from digital competition may soon find themselves in the middle of digital change. The process of digitization impacts not only firms and individuals but also the rules that govern societies. This is demonstrated by the role of Internet and social media in recent political campaigns in many countries and the dangers posed by cyberattacks.
Consequently, governments around the world strive to embrace digital transformation and they also increasingly try to control it.
The first step in the transition is to engage society in this process by providing affordable and fast Internet connections to every single household and business. The second step is to create an environment in which individuals and businesses can innovate and flourish. These are not easy tasks to accomplish and there is fierce competition among countries to stay on the forefront of these changes. In this race, developing countries are especially disadvantaged due to the lack of affordable telecommunications infrastructure, accessible education and digital ecosystems which can spur innovation.
Our research agenda on digital transformation is very broad because there are so many ways through which digitization affects the economy and society.
Currently, the research activities of MONSSA are focused on regulations which facilitate development of Internat infrastructure, the emergence of Internet platforms and the role of internet in the transformation of society.