Empowering Small and Medium Enterprises Through IT and Semantic Web Technologies in Digital Economies

Abstract

Small and Medium Enterprises (SMEs) are essential for fostering economic growth, innovation, and employment in both advanced and emerging economies. In the digital age, SMEs encounter considerable obstacles in embracing sophisticated technology to maintain competitiveness in progressively digitalized marketplaces. This chapter examines how Information Technology (IT) and Semantic Web technologies might enable SMEs to leverage the opportunities presented by digital economies. It analyses the function of information technology in optimizing corporate processes, augmenting consumer relationships, and expanding market accessibility. The chapter explores how Semantic Web technologies, via intelligent data management and integration, can offer SMEs increased decision-making skills, enhanced knowledge management, and more tailored user experiences. Case studies and real-world examples illustrate the practical applications of these technologies across many industries, emphasizing their transformative impact on SME growth and sustainability.