This chapter highlights that technology diffusion is deeply influenced by effective knowledge management through its integration into social, economic, and industrial development, and the users’ ability to manage transformation in alignment with societal and economic needs. Presently, economic value creation is mainly driven by the cyber revolution, encompassing technologies such as AI, AR, VR, and the metaverse. Therefore, a key challenge in governing AI development and application lies in minimizing risks, biases, and potential misuse that could disrupt business operations and the socio-psychological behavior of entrepreneurs and stakeholders. The fifth wave of technological evolution which is powered by AI, machine learning, and large language models has strengthened industrial progress through enhanced information management, data analytics, and predictive modeling in both manufacturing and services. Furthermore, the rise of digital micro-enterprises is largely driven by knowledge-intensive activities by leveraging experience, skills, and intellectual capital to generate value, foster innovation, and promote economic growth in an increasingly competitive marketplace.