Digital transformation in financial and economic engineering: tools, challenges and opportunities for business management
Year: 2024
Type: article
Abstract: Digital transformation is redefining financial and economic engineering, according to a survey of industry experts and executives. The findings indicate that digitization has significantly improved operational efficiency and the ability to make data-driven decisions, reducing costs and increasing financial transparency. Case studies such as Grupo Argos, Ecopetrol and Organización Corona exemplify how effective digital transformation strategies, such as the use of artificial intelligence and machine learning, optimize financial management and promote sustainability. However, the research also points to significant challenges, such as resistance to change and budgetary constraints to implement new technologies. These challenges highlight the need for sound change management strategies and adequate resource allocation. Overall, digital transformation is crucial to maintain competitiveness and adapt to a constantly evolving market, underlining the importance of a comprehensive digital strategy and continuous staff training.
Institution: Universidade Federal do Pará
Language: English
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404591352