In Search of Hidden Stories Behind Digitalization in India

Abstract

According to Daniel Bell, the renowned American Sociologist, 'Service occupations grow at the expense of those producing material goods, and white-collar workers come to outnumber blue-collar workers employed in factories'. As the knowledge-driven economy was the major motivating force, the name 'Knowledge Society', coined by Peter Drucker, gained importance over time. The knowledge became a key economic resource in course of time with the progress of science from different angles. The term 'Knowledge society' essentially describes the societies, which are economically and culturally iconized by the intensive dependence on their potential to create scientific and technological knowledge. Information and knowledge, in this way, are becoming a special type of good or strategic resource in its own right and the phenomenon of ‘Digitisation’ has become the key activity of the knowledge society. The central role of ‘Digitisation’ is to transform the huge corpus of recorded information into machine-readable formats. There are several pros and cons behind digitization, to mention a few; digitization adopts new technologies and every stakeholder in the market is focused on successful digital adoption to put their start-up at the forefront of their position.

Keywords: knowledge society; digitisation; economic resource; technological progress