Economic Innovation Caused by Digital Transformation and Impact on Social Systems

Abstract

The purpose of this study is to review studies on innovation and identify factors that affect the acceleration of digital economic innovation. This study also analyzes the impact of economic innovation on social systems. A systematic literature review method was used to analyze the findings of extant studies on digital transformation and economic growth. Results indicate that different drivers trigger economic innovation in different times. Our analyses reveal that digital economic innovation results in changes in the industrial structure and helps productivity improvement and cost reduction in the production sector. Results show that the impact of economic innovation on technology and society spheres interacts with economic innovation. This study contributes to the literature by providing a comprehensive framework of how economic innovation and social systems are connected and how technology, economy, society, and policy sectors coevolve within the enormous framework of social systems.

Digital transformation, industrial structure change, and economic growth motivation: An empirical analysis based on manufacturing industry in Yangtze River Delta

“…Our research further supplements and extends the research results of Nambisan et al, Yoo and Yi [ 86 , 87 ]. From the perspective of conceptual integration, we study the principle that digital technology, digital platform and digital infrastructure transform organizational and social relations through value creation and value capture.…”

“…Yoo and Yi reviewed the research on digital transformation and economic growth through systematic literature review, and explained the connection between digitization and social system from a comprehensive framework. They believe that digital innovation has led to changes in the industrial structure, thereby reducing costs [ 87 ]. Our research further derives the path of ’ manufacturing digital transformation-industrial structure-economic growth ’ from the mechanism of manufacturing digitization, which explains how to promote the co-evolution of technology, economy, society and policy sectors from the whole.…”

New Trends in Sustainable Development for Industry 5.0: Digital Green Innovation Economy

“…Rauter et al (2019) conducted in-depth research on open innovation and its impact on economic and sustainable innovation performance, clarifying the relationship between economic and sustainable innovation performance and contributing to the literature on open innovation. Yoo and Yi (2022) found that the impact of economic innovation on the technology and social fields interacts with economic innovation, providing a comprehensive framework for the literature on how economic innovation is linked to social institutions and how technology, economy, society, and policy sectors evolve together within a vast social institutional framework. In summary, scholars have demonstrated through research that economic innovation methods such as technological innovation and management innovation can have an important promoting effect on the development of sustainable economy, further emphasizing the prominent position of economic innovation in future development.…”

Social Culture Change Sebagai Eksternalitas Transformasi Digital Di Indonesia

“…Meskipun tidak secara menyeluruh perubahan sosial dan budaya yang terjadi, akan tetapi perubahan tersebut merupakan salah satu tahap eksternalitas akibat adanya suatu perubahan variable lainnya. Dapat dikatakan bahwa, ketika variable baru tersebut merubah pola struktur sosial dan budaya masyarakat maka ISSN: 2355-0295, e-ISSN: 2528-2255 320 http://ejournal.bsi.ac.id/ejurnal/index.php/ecodemica perubahan tersebut juga dapat berlaku pada lapisan masyarakat di tempat yang berbeda (Yoo & Yi, 2022).…”