The Digital Economy

Abstract

Five major technology trends have collided to shape what is becoming known as the digital economy: Hyper-connectivity, supercomputing, cloud computing, cyber security, and smart products have created a world where the traditional boundaries of products vs. service offerings no longer exist. Individuals, businesses, and societies are connecting in real time, creating a world that is more collaborative, intelligent, and responsive. Fortunately, the oil and gas industry has been highly automated and digitized for decades. Yet the technology powering the digital economy is taking connectivity to a new level, transforming nearly every aspect of operations and customer engagement. Early adopters are growing shareholder and stakeholder value faster than their peers while those failing to adapt are falling behind. Staying ahead of the curve means taking a hard look at existing practices and reimagining everything from business models and processes to work management solutions.