ABSTRACT

Organizations need to be more alert and agile when responding to future trends and uncertainties. One of the most important systemic shifts that will affect our world is the evolution of Society 5.0 driven by the digital economy. In Society 5.0, the new value created through innovation will eliminate regional, age, gender, and language gaps and enable the provision of products and services finely tailored to diverse individual needs and latent needs. The foundation for Society 5.0 is the rapid evolution of the digital economy. The digital economy is changing the world view on value creation. Information technologies have been a significant contributor to the growth of developed economies over the past decade. Digital transformation has vast effects on society at many levels. It allows the automation of business operations resulting in operational efficiencies, such as reduction of transaction costs, which ultimately impacts productivity.