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Information Technology Innovation Resurgence, Confluence, and Continuing Impact (2020) / Chapter Skim
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1 The Impact of Information Technology
Pages 5-8

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From page 5...
... digital media, which is the content that digital economy users create and access. Because of the limitations of available data, BEA's initial estimates include only goods and services that are "primarily digital." This means that some components of the digital economy, like peer-to-peer (P2P)
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From page 6...
... program, which includes most federal support for IT R&D, was approximately $5.1 billion,3 or about 0.03 percent of GDP. These substantial contributions reflect only the direct economic benefits of the IT sector and do not capture the full benefits realized from the adoption of IT throughout the economy.4 This report also considers IT's transformative impact across the economy, using as examples the health care, automotive, agriculture, and sports sectors, and charts how multiple streams of IT innovation come together to transform industries, sometimes tapping into decades of research.
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From page 7...
... IT has enabled enterprises to rapidly shift to remote work; helped restaurants and other services pivot to new ordering and delivery models; fueled a shift to telemedicine, remote health monitoring, and other forms of virtual health care; and exposed both potential and pitfalls in the largest experiment in online education ever conceived. Medical discovery -- already propelled by advances in data analytics, modeling, and raw computational horsepower and storage -- has been accelerated during this pandemic response through the study of proteins and antibodies and speeding up vaccine design.
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From page 8...
... Chapter 5 provides case studies of confluence -- when multiple streams of in novation in IT, innovation within sectors, and innovation in how IT is used to solve problems and create new capabilities in those sectors are combined and lead to transformative impact. It provides illustrative narratives for the following industry sectors: e-commerce, automotive, health care, sports, and agriculture.
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