The research explores advanced tools, metrics, or indices that estimate the level of digitalization in economies. It compares the existing indices, considering their advantages and disadvantages, to identify the ones that provide the most effective or comprehensive information about global digital economies. The research also examines how various digital and innovation-related indices can affect GDP per capita across countries over time. The authors carried out the analysis based on data from 12 comparable countries covering the period from 2017 to 2024. Regression analysis methods were utilized to estimate how digital and innovation-related indices might affect GDP per capita. The analyses show that the indices have mostly long-term effects on GDP per capita, while their short-term impact is negligible. This research does not detract from the relevance of any index or the impact of any innovation sector on the country’s competitiveness, but allows certain conclusions for public policy. The authors believe that AI will not replace people in the labor market. However, people who have acquired AI tools will replace people who do not possess this knowledge. Similarly, countries that do not respond quickly enough to rapid change will face a serious loss of competitiveness.