How information technology is important for economy?
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Information technology fosters innovation in business. Innovation results in smarter apps, improved data storage, faster processing, and wider information distribution. Innovation makes businesses run more efficiently. And innovation increases value, enhances quality, and boosts productivity.
Technological advancement and economic growth are truly related to each other. The level of technology is also an important determinant of economic growth. The rapid rate of growth can be achieved through high level of technology. Thus, it is the technological progress which keeps the economy moving.
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