Digitalization Process as a Factor Increasing Austrian Competitiveness

Abstract

The article examines the issues arising from active implementation of digital technologies in the modern business environment. Companies, nonprofit organizations, state authorities, and individuals get increasingly involved in the digital activities. Technological development in the context of new industrialization associated with the digital economy accelerates the process of advancing knowledge and expertise in various areas. It reduces the time needed to develop, produce and launch innovative goods and services. However, even the leading economies of the world have not exploited the potential benefits of the digital evolution to a full degree. The authors analyze the digitalization of the business processes in Austria. The country is selected for the case study as one of the European Union (EU) leading economies that is intensifying the efforts in the implementation of digital technologies. The authors identify and analyze different technologies used in various sectors of the Austrian economy and give recommendations concerning the possible ways to facilitate and promote digitalization.