An umbrella term for the application of computer technologies to everyday life. Digital transformation actually began in the 1960s; however, what affected the world the most was the Internet after the turn of the century. See
New Economy,
creative destruction and
technology gap.
COVID-19 Digital Transformation
With half the population at home, the pandemic fueled digital transformation. Replacing the physical office and classroom, video meetings soared. For employees who like working at home, it was a joy not to commute every day. Doctors' visits became virtual for minor illnesses (see
telehealth).
If companies found their final product as good during the pandemic as before, the decision to reduce office space was compelling. Commercial vacancy rates have hit record highs.
The Next Digital Transformation: AI
No need for offices because there are no jobs. AI is expected to fuel the largest restructuring of white collar jobs in history... and alarmingly within this decade. Get ready (see
AI-proof jobs). See
AI anxiety.