Particularly in the last year, it has become increasingly clear that the phenomenon of digital technology is changing our lives. For the better, and in some respects, certainly for the worse. One thing is certain: according to the European Commission, the decade ahead is set to become Europe’s digital decade. The question now is how Europe can position itself in the digital competition and what exactly the current digitization trends are focused on.
- Europe and digital competition
- How can Europe position itself better in the digital competition?
- Current trends in digitization
- Sharing is caring
- Hybridization of social spaces
- Automation of data
Europe and digital competition
Although a lot has certainly happened in recent years with regard to digitization, there are still enough pioneers of digitization that are doing better than Europe. China and the USA are not unimportant keywords at this point. When it comes to infrastructure, start-up conditions, venture capital and, above all, competition on digital platforms, there are increasing areas where Europe willy-nilly needs to optimize its own strategy in order to keep up with the competition.
How can Europe position itself better in the digital competition?
An answer to this question can be given in a predictive manner. However, with regard to infrastructure, venture capital and start-up conditions, a number of relevant measures can be identified that could have a lasting impact on digital competition in Europe in the future.
- In order to better position itself in the digital market, there is the possibility of making the standard regulations for startups uniform in order to support a classified establishment of the European Startup Nation.
- As we have often mentioned, the introduction of 5G does not play an unimportant role in digital competition and should be further advanced and optimized. Accordingly, a relevant component of this measure is the introduction of national roaming, primarily to create stable basic conditions for rapid expansion.
- The emerging monopolization tendencies are also not an aspect to be taken lightly. In the future, the European cloud computing market must be able to rely on data portability and interoperability to counteract precisely this tendency.
- Another point is also venture capital. It is especially important for startups to have optimal access to such assistance. Access that is reliable and quickly available. Studies point to the introduction of state funds of funds, especially to minimize the associated risk for capital providers.
Current trends in digitization
Tips and tricks, ideas and research are all well and good, but they are of little use if the current trends of digitization are not included and considered. There are many parallels to be found here that could potentially point to further solutions and innovative opportunities.
Probably one of the most important terms in the current digitization trends is the concept of networking . Fundamentally, it is already clear that digitization has definitely led to optimized networking of individual and cooperative relationships. Through smart devices, it is possible for us to remain networked on a daily basis and to be in constant, transparent contact. In addition, portals and clouds make data and facts, information and knowledge available to the general public at all times. Accordingly, networking is one of the most important artifacts of modern digitization, especially for the comprehensive integration of society.
Sharing is caring
The term sharing economy is another important aspect of digitization trends. It refers to the community consumption of a shared use of goods and artifacts. This is not just about sharing knowledge, but also about the possibility of effectively sharing practical consumption. The infrastructure for shared cars, bicycles and scooters is constantly growing and offers opportunities to save not only money, but also energy and effort.
Hybridization of social spaces
The separation/connectivity of the virtual and real worlds have been on our minds repeatedly, especially in the past two years. Especially with the Corona pandemic and the lockdown that followed, the hybridization of social spaces has become arguably one of the most important artifacts of digitization. Virtual spaces and expanded virtual capabilities have allowed companies and even individuals to continue their daily lives (almost) as usual. Many companies and studies now even make the prediction that the hybridization of social spaces will continue to play a relevant role even after the pandemic.
Automation of data
Cookies and the delivery of data are also particularly relevant when it comes to current trends in digitization. By making data available, processes can be captured in detail and automated. For example, providers are given the opportunity to further optimize and individualize their services. Advertising and marketing processes in particular go hand in hand with the provision of data. Artificial intelligence also plays a relevant role here, especially when it comes to developing business models and automated processes. Since the scope of captured data and the use of artificial intelligence are still controversial topics in many areas, it is worth following this process particularly closely.
You can find more info on the most relevant topics of digitalization here.