Information technology (IT) plays a key role as a driver of change in modern society. Its complexity and progress bring about changes in companies, society and the economy and have a significant impact on the global competitiveness of countries. IT involves the use of computers, telecommunications and software solutions to store, retrieve, transfer and process data and is therefore indispensable in businesses, organizations and daily life. This paper examines the impact of IT on business, society and the economy and highlights the benefits and challenges that arise. Using an analytical approach and applying capture techniques, it examines digital transformations of business processes, changes in communication and interaction and their contribution to economic development. IT enables new opportunities for innovation, the development of products and services and accelerates communication through electronic mail, video conferencing and social networks, facilitating collaboration and the exchange of information on a global scale. However, the growth of IT is accompanied by challenges such as data protection, user privacy, digital inequality and the need for continuous training. Ethical issues relating to the use of data and technology are also becoming increasingly important. Information technology brings significant benefits to businesses, society and the economy, but also challenges that require continuous adaptation and responsible use. This paper provides a deeper understanding of these dynamic changes that is useful for the academic community, IT professionals and decision makers in business and the public sector. A thorough understanding of the impact of IT is essential to reap its benefits and effectively manage the challenges of the digital age.