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Policy, Development and Freedom: Strengthening Innovation Through Sustainable Digital Transformation for Global Challenge

In: Proceedings of the International Conference on Global Innovation and Trends in Economics and Business (ICOBIS 2022)

Author

Listed:
  • Arpita Ghosal

    (Eastern Institute for Integrated Learning in Management (EIILM-Kolkata))

  • R. P. Banerjee

    (Eastern Institute for Integrated Learning in Management (EIILM-Kolkata))

Abstract

In most of the cases sustainability is associated with environment. Since the era of digitalization has started, the world is getting transformed digitally on each and every moment. The transformation of digitalization has characterized by the technology which helps to increase the speed and vastness of knowledge turnover within the economy and society. The pattern of digital transformation is getting updated each and every day. People are working on more advanced digital transformation because world does not want to stuck in one place rather this world is moving forward very fast. People are working on these for a better world, society, economy. Digital transformation should be benefic for large number of people. Though digital transformation is a constant changeable process and it requires a large amount of investment it would be better if people get benefitted by the digital transformation for a longer period of time. Innovation is key of digital transformation. Innovation is a process which leads to the development of new technology. Through the process of innovation business is getting modernize, efficient workflows are getting accelerate, increase profitability and security. A Conceptual framework for innovation is very important in the process of digital transformation. Digital transformation has many benefits such as it reduces inefficiencies, improved productivity, lower production and maintenance cost while increasing system flexibility. But due to lack of proper framework many times organization has face many challenges when it found to move forward towards digital transformation. The challenges are lack of proper implementation of standard protocol, giving emphasis on new technologies without assessing its role within the business, investing money on digital implementation without a realistic view of return on investment. We must remember that machine serving the cause of man. Machines with inputs from human side took perform quasi human actions. In this study we are going to explore how digital transformation can be more sustainable by strengthening the innovation to face the global challenge.

Suggested Citation

  • Arpita Ghosal & R. P. Banerjee, 2023. "Policy, Development and Freedom: Strengthening Innovation Through Sustainable Digital Transformation for Global Challenge," Advances in Economics, Business and Management Research, in: Sanchita Saha & Dien Noviany Rahmatika & Ying Li & Khin Sandar Kyaw & Dewi Indriasih & Arif Zainudin (ed.), Proceedings of the International Conference on Global Innovation and Trends in Economics and Business (ICOBIS 2022), pages 62-66, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-068-8_5
    DOI: 10.2991/978-94-6463-068-8_5
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