The Impact of the Digital Economy on the Educational Landscape

Research Article
Open access

The Impact of the Digital Economy on the Educational Landscape

Xinuo Yuwen 1*
  • 1 The school of mathematics, University of Leeds, Woodhouse, Leeds, LS2 9JT, the United Kingdom    
  • *corresponding author mm22xy@leeds.ac.uk
Published on 3 January 2025 | https://doi.org/10.54254/2754-1169/2024.19254
AEMPS Vol.149
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-83558-849-9
ISBN (Online): 978-1-83558-850-5

Abstract

The digital economy is a big change that comes from innovative technologies, especially the Internet, artificial intelligence, and large amounts of data. This shift has improved learning by making it easier for people to get and get educational supplies. Online platforms like Massive Open Online Courses ( MOOCs ) and learning management systems ( LMS ) provide more people with access to good educational materials. This helps break down the barriers caused by area and money that have made it difficult for some people to get training in the past. The digital divide creates major problems because not everyone has the same access to technology and excellent online. This may make previously existing inequalities worse, especially for disadvantaged communities. Moreover, more people need to be good at using modern technology because kids have to learn how to utilize online websites. Making sure everyone gets virtual learning resources is very important for using the digital economy to help improve education for all. By tackling the problems of uneven access to technology and including online skills in school programs, people involved can create a more loving training program that helps everyone get back and promotes fairness in the economy.

Keywords:

Digital economy, traditional economy, education industry, online education, technological change

Yuwen,X. (2025). The Impact of the Digital Economy on the Educational Landscape. Advances in Economics, Management and Political Sciences,149,1-4.
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1. Introduction

The word "digital business" means a great plan that relies on the fast growth of technology, particularly the Internet, artificial intelligence, and large amounts of data [1]. The digital economy started only in the late 1900s, but its influence is also strong in the 21st century, mainly just because of the fall of phones and social media [2]. In a traditional economy, creating products and services and the buying and selling of them typically rely on exact things and people meeting and engaging in person [3]. The development of the digital economy has happened because of online purchasing, digital payment methods, and online programs. These have helped improve global trade and made issues work better. It's important to realize that the digital economy has influenced this pattern. The digital economy has considerably affected training, which is a vital part of the traditional economy. Traditional education often emphasizes in-people training, using teaching materials, and creating set places for learning. This process is fast becoming outdated in tomorrow's digital economy because online learning and online tools for learning are becoming more popular [4]. The pandemic has caused some apps and websites to be made so that people can easily get information from home. This essay talks about the abilities people can learn through online education to get ready for employment in the modern world.

2. The Effect in Economics

The education field is one of the biggest regions affected by the progress of the digital economy. Using modern technology has changed how education components are shared and has made it easier for more people to get and take part in learning options. Many online platforms, like Massive Open Online Courses (MOOCs) and different learning management systems (LMS), have become important tools. They enable students from various backgrounds to obtain good academic elements and learn at their own pace. This behavior significantly removes the spot and financial obstacles that have made it difficult for people to access knowledge in the past. In the past, there have been some restrictions. For instance, a study by the Organization for Economic Co-operation and Development (OECD) found that online learning may cut down expenses related to traditional learning, like travel and accommodation [5]. This helps make education easier to access for students who don't have a lot of money. A study by Coursera showed that over sixty percent of people having massive online courses come from places outside of the United States [6]. This shows that these programs can connect with students in poorer places where getting great training can be hard. Moreover, the flexibility of online learning helps kids greatly improve their skills and talents. A survey done by EdX found that 72 % of people in online courses said they learned skills useful for their jobs, and 52 % said their chances of getting a job improved after they completed their courses [7]. This shows that online learning not only teaches facts but also helps students learn valuable skills that can lead to better work chances and career development. When students can study anytime and anywhere, they gain more power to balance their knowledge with labor and other commitments. According to a report by Deloitte, 88 % of workers believe that continuous learning is essential for getting back into their work [8,9]. They even think that having online education resources helps them stay enhanced in their jobs. The digital economy helps involve more folks and gives them the chance to learn the critical knowledge they need to succeed in a job market that is getting more competitive. This is done by closing the learning space.

3. Personalized Learning Experience

The digital economy can help generate teaching materials easier for more people to enter and provide a more personalized learning experience. This has the potential to greatly increase the education space that already exists. Differences like this can make discrimination worse, particularly for teams that are already treated unfairly. Research has shown that students from lower-money backgrounds usually face significant challenges when trying to apply online learning resources [10-12]. These problems can prevent their education. Besides never getting devices like tablets and pills or having poor internet links, they may also struggle with basic computer knowledge, which adds to the digital divide. For example, a survey by the Pew Research Center found that about 15 % of homes in the U. S with college-era children do not have higher-speed internet [9]. This shows the problems that many people face when trying to get an online education. Because of this, children living in these places may struggle to keep up with their peers who have better access to technology. This could alter their school marks and potential opportunities. Moreover, the modern world not only gives individuals access to numerous learning resources but also requires them to learn new skills. Kids need to learn online abilities. This means being able to use the internet, know different types of advertising, and use systems to work up and connect with people. According to Deloitte's study, 88 percent of workers believe that continuous learning and online skills are essential for moving up in their jobs [8]. This shows that students need to have the proper skills and knowledge. Some students from lower-income families may struggle to learn these skills if they lack access to technology and teaching. This might lead to a bigger difference in knowledge. In this review, the key issue we may look into is whether the digital economy helps create training better. We need to cope with ongoing issues related to technology access and knowledge gaps, even though systems can lead to better exposure and more personalized learning experiences. To make the most of the digital economy and help all individuals learn likewise, it's important to ensure that every student has the tools they need to succeed with digital education. One way to shut down the online difference is by creating tasks that provide resources and training to impoverished groups. For example, groups like TechSoup and Everyone On are assisting people with low wages to get cheap internet access and engineering solutions [11]. These initiatives can help provide students with the skills they need to do well in virtual learning. This is done by providing students with tools and education programs. Moreover, schools can help promote electronic justice by adding electronic skills training to their classes. Teachers should have the tools and ways they need to teach digital skills, according to a study by the International Society for Technology in Education (ISTE) [10]. This will make sure that individuals are properly- prepared for the demands of today's career market. In summary, it is important to fix the problems caused by the digital divide, even though the digital economy may make learning more reasonable. We can make online learning effective and create a fairer teaching location if we focus on making sure all students have access to technology and the skills they need to use it properly. This approach not only helps each pupil but also supports the bigger goal of making the market better and helping individuals move up in society as the earth becomes more online.

4. Conclusion

The word "digital business" means the use of new technologies, like the Internet, artificial intelligence, and big data, to shift how we do business and communicate with each other. Even though it started in the late 1900s, its effects have grown stronger just because so many individuals use smartphones and social media. The digital economy is different from the regular economy because it doesn't need people to meet in person to make or sell things. Instead, it allows for online shopping, online payments, and digital systems, making the world economy function better. This change has greatly impacted knowledge, as technology has made it easier to access and communicate learning supplies. Online websites, like MOOCs and learning management systems, provide access to great educational tools. This helps to overcome earlier problems related to site and money. OECD study shows that virtual understanding significantly lowers the costs of conventional education, making it easier for lower-income students to access. However, there is still a major problem with the digital divide, as disparities in access to technology and trust online can make imbalances worse, especially for disadvantaged groups. Some students from lower-income backgrounds face major difficulties in getting online resources, which may hinder their scientific progress. This space includes never having enough products to use, slow internet connection, and not learning how to use technology. Students need to learn online skills so they can manage online platforms and employ systems successfully. People from poorer backgrounds often don't have the tools they need to develop their skills, which makes the gap between skilled and unskilled people wider. The post highlights the importance of making sure that all students can access online learning materials likewise so that everyone can benefit from the digital economy and improve academic justice. Recommended options include special courses that offer support and education for disadvantaged groups, as well as adding modern skills training to school subjects.


References

[1]. Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company. This book explores the impact of digital technologies on the economy, emphasizing the role of the digital economy in driving efficiency and global economic integration.

[2]. OECD. (2021). The Digital Economy Outlook 2021. OECD Publishing. This report provides insights into how the digital economy is evolving and its effects on various sectors, including education, emphasizing the shift towards online learning and the need for digital literacy. Link to report.4.

[3]. Friedman, T. L. (2005). The World is Flat: A Brief History of the Twenty-First Century. Farrar, Straus and Giroux. This book outlines how globalization and technological advancements, particularly the rise of the digital economy, are changing traditional business and education practices.

[4]. Zhang, W., Wang, Y., Yang, L., & Wang, S. (2020). Teaching and learning in a digital world: The role of technology in enhancing education. Computers & Education, 151, 103871.

[5]. OECD Publishing. https://www.oecd.org/digital/digital-economy-outlook-2021-5d6e0e3d-en.htm

[6]. Coursera. (2021). 2021 global skills report. https://www.coursera.org/global-skills-report

[7]. EdX. (2020). Impact of online learning. https://www.edx.org/impact• OECD. (2021). The digital economy outlook 2021.

[8]. Deloitte. (2019). 2019 Deloitte global human capital trends. https://www2.deloitte.com/global/en/pages/human-capital/topics/human-capital-trends.html

[9]. Pew Research Center. (2021). The digital divide persists even as lower-income Americans make gains in tech adoption.https://www.pewresearch.org/fact-tank/2021/04/07/the-digital-divide-persists-even-as-lower-income-americans-make-gains-in-tech-adoption/

[10]. International Society for Technology in Education (ISTE). (2020). Empowering learners with technology: A vision for education in the 21st century. https://www.iste.org

[11]. TechSoup. (n.d.). What we do. https://www.techsoup.org/about/what-we-do

[12]. Warschauer, M. (2011). Digital learning and the future of education. Journal of Language, Identity & Education, 10(2), 157-161. https://doi.org/10.1080/15348458.2011.577423


Cite this article

Yuwen,X. (2025). The Impact of the Digital Economy on the Educational Landscape. Advances in Economics, Management and Political Sciences,149,1-4.

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About volume

Volume title: Proceedings of the 3rd International Conference on Financial Technology and Business Analysis

ISBN:978-1-83558-849-9(Print) / 978-1-83558-850-5(Online)
Editor:Ursula Faura-Martínez
Conference website: https://2024.icftba.org/
Conference date: 4 December 2024
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.149
ISSN:2754-1169(Print) / 2754-1177(Online)

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References

[1]. Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W. W. Norton & Company. This book explores the impact of digital technologies on the economy, emphasizing the role of the digital economy in driving efficiency and global economic integration.

[2]. OECD. (2021). The Digital Economy Outlook 2021. OECD Publishing. This report provides insights into how the digital economy is evolving and its effects on various sectors, including education, emphasizing the shift towards online learning and the need for digital literacy. Link to report.4.

[3]. Friedman, T. L. (2005). The World is Flat: A Brief History of the Twenty-First Century. Farrar, Straus and Giroux. This book outlines how globalization and technological advancements, particularly the rise of the digital economy, are changing traditional business and education practices.

[4]. Zhang, W., Wang, Y., Yang, L., & Wang, S. (2020). Teaching and learning in a digital world: The role of technology in enhancing education. Computers & Education, 151, 103871.

[5]. OECD Publishing. https://www.oecd.org/digital/digital-economy-outlook-2021-5d6e0e3d-en.htm

[6]. Coursera. (2021). 2021 global skills report. https://www.coursera.org/global-skills-report

[7]. EdX. (2020). Impact of online learning. https://www.edx.org/impact• OECD. (2021). The digital economy outlook 2021.

[8]. Deloitte. (2019). 2019 Deloitte global human capital trends. https://www2.deloitte.com/global/en/pages/human-capital/topics/human-capital-trends.html

[9]. Pew Research Center. (2021). The digital divide persists even as lower-income Americans make gains in tech adoption.https://www.pewresearch.org/fact-tank/2021/04/07/the-digital-divide-persists-even-as-lower-income-americans-make-gains-in-tech-adoption/

[10]. International Society for Technology in Education (ISTE). (2020). Empowering learners with technology: A vision for education in the 21st century. https://www.iste.org

[11]. TechSoup. (n.d.). What we do. https://www.techsoup.org/about/what-we-do

[12]. Warschauer, M. (2011). Digital learning and the future of education. Journal of Language, Identity & Education, 10(2), 157-161. https://doi.org/10.1080/15348458.2011.577423