A new economic assessment has found that doubling the average level of digital investment by Irish SMEs could add €8.3 billion to the Irish economy.
According to the report from Digital Business Ireland, many SMEs have still not reached the level of digital maturity required to compete effectively.
The research, titled "Taking Digital Commerce in Ireland to the Next Level", found that businesses should be seeking, on an ongoing basis, to upscale their digital maturity and enhance their digital commerce capabilities.
The report identifies a number of recommendations for future business supports from both Government and industry including a second, higher-value tier of the Grow Digital Voucher to support businesses to invest in next-level digital commerce capabilities.
It calls for the introduction of targeted tax measures, such as Accelerated Tax Credits, to incentivise ongoing business investment in next-level digital commerce capabilities.
The report also recommends that the Irish Government actively champion policy positions at an EU level which seek to preserve and strengthen the ability of businesses in Ireland to use personalised ads.
"The reality of digital transition is that it is a task that is never completed," said Victor Timon, Chair of Digital Business Ireland.
"The tempo of change never slows," he stated.
"For all the progress we have made as an economy, the accelerating pace of digital innovation and the unprecedented opportunities offered by AI means there is always new ground to travel and there is always another level to be reached," Mr Timon said.
