Social Benefits of Digitalisation

Abstract

Introduction: The rapid technological changes have significantly decentralised the economy and social life in the last 20 years. The transformation into the digital environment and its socio-economic consequences may experience numerous issues depending on the level of development of countries. The experience of developed countries shows that digitalisation delivers a positive impact on economic development (because of increased labour productivity, transparency and reduction of the shadow economy). In fact, on the other side, economic development represent the improvement of people’s well-being.

However, it is, furthermore, the fact that delays in the process of transformation into the digital environment will lead to economic decline and as a result, social problems. Many current studies focus on the social consequences and benefits of digitalisation. In many cases, the social consequences of digitalisation (unemployment and income inequality) are exaggerated. The authors believe that the economic and social benefits (measurable and non-measurable) of digitalisation are enormous. Examples could be introduced as the emergence of new intelligent professions and specialties, the comfort of jobs and life, the ability to get the products, information and knowledge from anywhere in the world.

The history of the development of society shows that people have always been interested in the ‘comfort’ of life. It is the acceleration of digitalisation in recent years that has stated a significant place in this process.

Objective: To adequately assess the relationship between digitalisation and the comfort of life, the improvement of welfare (income, secure life and satisfaction) and to indicate the social benefits of digitalisation on a scientific basis.

Method: To identify measurable and unmeasurable factors and benefits of technological change on human life, to assess the impact of digitalisation on economic growth, income, labour productivity, intellectual development, knowledge capital and health care.

Findings: Although digitalisation will endure a number of social consequences in the short and medium term, but the well-being of people will be improved and life will be turned on more delightful, and incomes increased in the long term.

Citation

Sabir, R.A., Niyaz, A.M. and Bakhtiyar, A.G. (2022), "Social Benefits of Digitalisation", Grima, S., Özen, E. and Boz, H. (Ed.) The New Digital Era: Digitalisation, Emerging Risks and Opportunities (Contemporary Studies in Economic and Financial Analysis, Vol. 109A), Emerald Publishing Limited, Leeds, pp. 31-47. https://doi.org/10.1108/S1569-37592022000109A003