Developing innovation ecosystem to accelerate digital transformation in the economy

Abstract

Digitalization and innovation have gained attention as important topics across sectors, profoundly influencing the transformation and success of the business landscape. In general, it is accepted that these elements are crucial for the revitalization of economies and the fostering of sustainable growth. But, considering the diversity of technologies and possibilities for accelerating digital transformation in this article we discussed the most promising approaches for their integration in innovation ecosystems, and, at the same time, shows the experiences of companies that have used these technologies successfully. The study show how digitalization accelerates labor productivity, business growth, and changes in industry dynamics while pointing out certain major implementation barriers faced by companies. By examining agile working methods and industry-specific impacts we provide actionable insights into how businesses can improve their efficiency and adaptability in the fast-changing digital economy. Therefore, this work contributes to the understanding of the role of innovation ecosystems in driving digital transformation and provides a roadmap for their implementation.