Final answer:
Information technology (IT) creates value by increasing efficiency and productivity, facilitating global connections, and transforming industries.
Step-by-step explanation:
Information technology (IT) has been able to create additional value by providing numerous opportunities and benefits. One of the main ways IT creates value is through increased efficiency and productivity. For example, IT systems like computer networks and software automate tasks and streamline processes, allowing companies to accomplish more in less time. Additionally, IT enables the creation and sharing of digital products and services, such as computer software, online music, and e-books, which can be easily distributed to a wide audience at a low cost.
Another way IT adds value is by enabling global connections and interactions. Telecommunications technologies facilitate long-distance economic connections, enabling businesses to engage in international trade and collaboration. This opens up new markets and opportunities for growth. Moreover, IT has revolutionized communication, making it easier and cheaper to connect with others through email, video conferencing, social media, and other digital channels.
Furthermore, IT has transformed industries and created new business models. For instance, the rise of e-commerce has allowed retailers to reach customers all around the world, eliminating geographical limitations. IT innovations have also led to the development of new services and platforms, such as ride-sharing apps and online marketplaces, which have disrupted traditional industries and created new opportunities for entrepreneurs.