The Importance and Trends of Digital Economy During COVID 19 Crisis: UAE Case

Abstract

The digital economy is a key driver of economic development that has profoundly altered the public's way of life. Technology has played an important role in our well-being, and it is likely to present more opportunities in the future, particularly during the COVID-19 pandemic. As the “Internet of Things,” artificial intelligence (AI), virtual reality, blockchain, self-driving cars, and other technologies advance, the digital economy will become more important. It offers some advantages like information through reviews, forums that help making decision about goods and services, security through online payment and global presence since the product or service is available anytime and anywhere. The goal of this study is to showcase the importance, challenges and trends of digital economy and its impact on the economic development and employment during Covid19 crisis in the UAE. The study also explores how innovations can improve people's quality of life around the globe and how technology and digitalization can be used to create prosperous smart economies in the post-pandemic period.