In the rapidly evolving landscape of today’s society, data has emerged as the fifth factor of production, alongside traditional elements like land, labor, capital, and technologyThe integration of data into productive processes is significantly transforming the way economies operate, ushering in a new era of productive capacity characterized by digital technologiesThis transformative effect stems from the deep embedding of digital technologies within the fabric of the economy, enhancing digitalization, networking, and intelligence across various sectorsThe implications of this shift are profound and far-reaching.

The convergence of digital economies with traditional sectors manifests in two primary waysFirst, there is the development of digital industries, which serves as the foundation and driving force behind the growth of the digital economySecond, traditional industries are being empowered and transformed through digital technology, leading to what is known as industrial digitalizationThe synergy between these two processes is pivotal for optimizing economic structures and achieving a more sustainable form of developmentAs of 2023, the digital economy represented a substantial mix, with digital industry accounting for 18.7% and industrial digitalization making up a commanding 81.3%. Moreover, in China, the integration of digital economics spans across various sectors with penetration rates in primary, secondary, and tertiary sectors recorded at 10.78%, 25.03%, and 45.63%, respectivelyThis ongoing deepening of the digital economy is indicative of a larger trend towards more sophisticated economic structures.

The abundance of data resource is instrumental in driving industrial transformation and spawning new sectorsData not only has the potential to be shared, replicated, and reused but also serves as a valuable input in the production process, enhancing output efficiency significantlyThis evolution is giving rise to innovative data products that contribute to robust economic growth

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For instance, the evolution of housing in the digital age has transformed it from merely being a physical shelter to a dynamic space capable of providing residents with a plethora of living data for improved life qualitySimilarly, the automotive industry has seen the evolution of cars into smart platforms that provide passengers with valuable data rather than serving only as mere means of transportationIn the fashion industry, garments could potentially become instruments for consumers to acquire health data, a shift that emphasizes functionality intertwined with aesthetic appeal.

The incorporation of digital technology into product enhancement and the development of new products is crucial for increasing added value and competitiveness, thereby positioning products as higher-end offerings in the marketThe fusion of artificial intelligence, big data, blockchain, and cloud computing with traditional manufacturing processes fosters the creation of intelligent manufacturing ecosystemsDigital technology facilitates the establishment of smart factories where aspects such as planning, production, and operations can be fine-tuned through more accurate dataFor example, in a modern automobile assembly line, sphere-shaped cameras operate in synergy to simultaneously inspect over twenty different aspects of a vehicle’s lights, achieving an impressive accuracy rate of 99% within just one secondThis contrasts sharply with traditional quality control methods, which often depend on human oversight and are prone to errors due to slower response times.

Presently, the application of digital technology throughout various stages of the industrial chain, supply chain, and value chain is intensifyingTo further deepen the integration of digital and traditional economies, it is imperative to strengthen complementary benefits across different sectors of the industrial chainThis call to action emphasizes the need for real-time, comprehensive digitization of all production and supply chain processes, thus enhancing resilience in industrial chains, stability within supply chains, and increasing value throughout the value chain.

A practical example of this integration can be observed in logistical enterprises, where the deep interconnection of freight networks, warehousing systems, and cloud networks has led to the realization of a “triple network convergence.” This initiative not only fosters collaboration among upstream and downstream partners in the supply chain, facilitating cost reduction and efficiency improvements, but also ensures the reliability and stability of the enterprise’s own supply chain

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