Kulynych Myroslava, PhD in Economics, Associate Professor, Department of Accounting and Auditing, Lesya Ukrainka Eastern Europen National University, Lutsk

ORCID ID: 0000-0001-9024-2924
e-mail: kulmiros@gmail.com

Digital Economy Trends in the Global Economic Space

Introduction. The article examines the need to transform the economy into a digital format in the face of global digital technologies. The focus of various businesses is on e-business and digital technology.

Purpose. The article is aimed to determine the essence of the digital economy, its relationship with the traditional economy, the emergence of the digital economy in society.

The nature of the terms “digital economy”, “digitalization”, “informatization” is outlined. The digitalization is defined as a modern stage of development of informatization characterized by the predominant use of digital technologies of generation, processing, transmission, storage and visualization of information.

Results. It is established that human capital becomes an important element in the development of the digital economy in society while promoting the development of artificial intelligence technologies. It is manifested in the transition from data processing to presentation and processing of knowledge. The basis of the digital economy is the digitization of production. Digital production is a set of tools for optimizing workflow with software and hardware solutions. Digitalization is nothing more than the transition from analogue economy to digital one. This process involves not only the replacement of production tools, but also the introduction of analytical systems that maximize the cost-effective production. A number of advantages and disadvantages that digital technologies provide to industrial production are analyzed.

The focus is on a number of global changes that are taking place in society as a result of the introduction of the digitalization process.

Conclusions. It is concluded that the digital vector of the economy today seems to be more like a model of the distant future, but now we can see how certain industries (trade, services) are undergoing a stage of digital transformation. Analyzing the trends of the digital economy it is advisable to consider it as an economy of new business models and new markets providing a competitive proposition. The success of the digital economy depends on how well the public and corporate sectors are moving towards a digital future.

Keywords: Digital Economy, Digitization, Informatization, Business Processes, Manufacturing, Human Capital, Profit, Productivity.

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