COVID-19 has forced the global economy to deal with added uncertainty and dramatic upheaval. In response to the economic impact of the pandemic, and in order to boost economic recovery, governments around the world adjusted their policies to promote the convergence of traditional industries with digital technology, advance the digital transformation of industries, and develop the "digital economy". Under the impetus of the digital economy supported by immense computing power, new industries have been developing rapidly.
As digitalization accelerates, the digital economy is set to become a major driver for global economic recovery and will be a source of continued economic growth in the future. Digital transformation has become the focus of global attention during the pandemic, with both developed and developing countries continuing to stress the importance of the digital economy. Based on the overall trend and forecast from 2016 to 2025, the digital economy accounts for a rising proportion of GDP for each country. It is expected that this proportion will reach 41.4% by 2025.
With the technological advancement and quickly evolving product innovation typified by AI, digital technology has accelerated its deep convergence with vertical industries, and its applications have been undergoing constant improvement and innovation. When it comes to the practical application of digital technology, the decisive factor is computing power. Huge computing resources are behind the practical application of every new technology. As the digital economy continues to grow, so too will the computing power required to run it.