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Regulatory Commission for Energy of Republic of Srpska , Trebinje , Bosnia and Herzegovina
Deloitte d.o.o. Banja Luka , Banja Luka , Bosnia and Herzegovina
University Clinical Centre of The Republic of Srpska , Banja Luka , Bosnia and Herzegovina
The process of digital business transformation is present today in both, developed and less developed economies. This process is primarily reflected in the application of modern information and communication (ICT) achievements, in performance of business processes in all branches of the economy, and public administration. This has enabled the daily use of state-of-theart (latest) technologies, such as the Internet of Things (IoT), the Internet of Everything (IoE), cloud computing, artificial intelligence, business intelligence, Big data, and others. The use of these technologies is necessary for the companies to survive on the market, i.e. for institutions to keep pace with modern business. In this way, societies increase productivity, and institutions increase the efficiency of their business. Observing the space of Republic of Srpska, Bosnia and Herzegovina, today less than 100 companies, predominantly in the field of banking, finance and service provision, are permanently improving their hardware and software infrastructure and developing new services. Digital transformation in the Republic of Srpska/BiH, whether we are talking about state institutions or private sector, has made a significant contribution to business improvement in the past decade and enabled the application of modern technologies. Development largely depends not only on the financial position of the company, but also on the nature of its business and the lack of qualified staff. But, the fact is that certain branches of the economy, such as production, develop relatively more slowly in relation to the financial sector. However, it is encouraging that the digital transformation is an unstoppable process that has begun, and as a function of time will significantly change our environment and the competitiveness of the economy.
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