Final answer:
The digital world is defined by the widespread use of information technology, leading to a shift from manufacturing to an information-based economy. The Internet has transformed business models, yet the information age has also created a digital divide, where success depends on access to education and technological skills.
Step-by-step explanation:
The digital world is characterized by the prevalence of information technology, including computers, the Internet, and mobile devices that have revolutionized the way we live, work, and communicate. The advent of the information age signified a shift from industrial production to an economy based on information processing, storage, and distribution. The efficiency of digital technology has led to a decrease in factory jobs, with robotics and automation taking over, and the outsourcing of manufacturing work to less-developed countries due to the global economy.
The Internet has been pivotal, giving rise to industries that function almost entirely online and changing production methods across various sectors. For example, the music and film industries have moved from physical media like CDs and DVDs to digital streaming and downloads. This shift to a digital format has significantly reduced the costs associated with physical manufacturing. Furthermore, digital technology has democratized access to information, making it a commodity in itself and transforming how art is created, shared, and sold.
As a result, social classes in the information age are divided by access to education and technical skills, which are necessary for success in a society that values knowledge over material goods. Power belongs to those who control information, like the tech giants of our era - the Steve Jobs and Bill Gates of the digital domain. Thus, the digital world is the backbone of an information society where storage, processing, and distribution of knowledge are the keys to economic power.