As per my understanding on day one, I learnt that Information Technology is the engine that
drives the new world economy termed as the ‘digital economy’. IT has visibly affected how the
world is shaped economically today. It affects almost everything from political discussion, trade,
business, health information creation and dissemination, security, job creation, and the list goes
on and on. Without this implement, countries suffer the risk of being classified as ‘economically
under-developed’ today. IT has escalated the quality of education as schools today are judged by
the level of appreciation of this implement; dissemination of information through the internet and
use of IT tools in the ranks of staff and even students have improved and made efficient the
contemporary educational institutions.
Furthermore, software design, knowledge creation has made information technology bring
tremendous jobs in many economies. IT has thus affected many economies.
Information Technology (IT), better defined as computers and related digital communication
technology and information processing, has the power to reduce the cost of coordination
necessary to finish a given task (Osuagwu, 2012). There is no modern industry that has not been
affected by IT; advancement in political, social and economic spheres have been credited to the
gaining ground of IT in the world economy.
As I did understand, bridging the digital divide has been a core function of IT in transforming the
inner city economy and by extension the rural communities and achieving growth in the stature
of those economies (Robinson, 2000). E-Commerce; the use of internet to run businesses, and