scholarly journals A Review of the Impact of the Digital Transformation on the Global and European Economy

2021 ◽  
Vol 24 (3) ◽  
pp. 75-92
Author(s):  
Zofia Wysokińska
Keyword(s):  
Information And Communication Technologies ◽  
Social Innovation ◽  
Developed Countries ◽  
Digital Economy ◽  
Digital Transformation ◽  
Advanced Technology ◽  
Technology Products ◽  
Starting Point ◽  
Primary Basis ◽  
The Impact

The paper aims to present digital transformation as a process that has been taking place in the digital economy and the European Union’s economy in recent years and its impact on changes in the economic and social sphere. As a starting point, this paper considers the importance of advanced technology products in the global production and trade in the global and European economy, including information and communication technologies, which constitute the primary basis for the development of the digital economy. The paper shows that leading technologies can allow sustainable development goals (SDGs) to be achieved faster and more effectively. It is necessary to eliminate the persistent, significant income differences between developing and highly developed countries and disparities in access to the use of innovative solutions (including social innovation).

scholarly journals Researching the problems of digital economy development as an indicator of the information society: potential threats and prospects

2021 ◽  
Vol 6 (4(62)) ◽  
Author(s):  
Anna Hlazova
Keyword(s):  
Information And Communication Technologies ◽  
Information Society ◽  
Manufacturing Sector ◽  
Smart Cities ◽  
Developed Countries ◽  
Digital Economy ◽  
Remote Access ◽  
Practical Significance ◽  
Digital Currency ◽  
The Impact

The object of the paper is peculiarities of digital economy development in the framework of informatization of socio-economic, socio-cultural relations. It contributes to the in-depth development of the noosphere, the emergence of new industries and a qualitative transformation of production and distribution relations. The paper examines the impact of digitalization on transformational changes in the economy. As noted at the 14th G20 Summit, the main goals of digitalization are the development of innovations, focused on the development of society 5.0, ensuring the free flow of data and at the same time solving problems, related to information security and the protection of intellectual property rights, as well as bridging the digital gap and promoting the digitalization of micro, small and medium-sized enterprises and the development of smart cities. The research methodology is based on theoretical and methodological analysis of the literature, statistical, comparative analysis, as well as synthesis, generalization and systems analysis. The study has revealed differences between the national approach and world experience in the interpretation of digitalization. For instance, in Ukraine the phenomenon involves, first of all, «digitization» in the field of data collection and analysis. At the same time, the concept of digitalization in developed countries is considered as the modernization of the manufacturing sector based on the implementation of information and communication technologies in order to reduce the capital and material intensity of products to increase competitiveness. In addition, the level of development of central bank digital currencies (CBDC) as one of the indicators of the information society has been analyzed. As a result, it was found, that about 80 % of all central banks in the world have been working on projects to issue their own digital currency. The basic requirements for national CBDC have been systematized. The practical significance, presented in the paper, lies in making recommendations for policy implementation of national economy digitalization. It is important, first of all, to «digitize» the real manufacturing sector, but not only create all sorts of «remote access services», clearly define the government position on cryptocurrencies and continue to implement the project of e-hryvnia (digital currency of National Bank of Ukraine) introduction.

scholarly journals Important Aspects of Investment Projects in Economic Relations in Digital Economic Processes

2021 ◽  
Vol 58 (2) ◽  
pp. 1175-1182
Author(s):  
Abdullo Sagdullaevich Turdiev Et al.
Keyword(s):  
Information And Communication Technologies ◽  
Developed Countries ◽  
Economic Security ◽  
Digital Economy ◽  
Economic Relations ◽  
Strategy Of Development ◽  
Investment Projects ◽  
Information And Communication ◽  
The Republic ◽  
The Impact

The article analyzes the concept of the digital economy, definitions of the digital economy, technological changes inherent in the digital economy, the impact of the digital economy on employment, the creation of a national system of digital economic security, the share of information and communication technologies in GDP, analysis of some indicators of the analysis of the number of special software tools used in this area.The article also analyzes the state and development of the digital economy in developed countries and, based on the results, discusses a number of issues and problems in the strategy of development of the digital economy in the Republic of Uzbekistan and its economic significance.Also, mechanisms for creating local platforms of digital technology in the country have been proposed.

Mathematical models forecasting the transformation of the tax path of large russian companies

2019 ◽  
Vol 5 (3) ◽  
pp. 193-203
Author(s):  
Kristina A. Bannova ◽  
Nurken E. Aktaev ◽  
Yulia G. Tyurina
Keyword(s):  
Information And Communication Technologies ◽  
Business Processes ◽  
Digital Economy ◽  
The State ◽  
Russian Society ◽  
Financial Flows ◽  
Business Entities ◽  
Object Of Study ◽  
Tax Changes ◽  
The Impact

Digital technologies have changed the relationship between the society and business entities, taxpayers and the state. Ceteris paribus, the ability to effectively manage financial flows and make administrative decisions depends on the correct and established interaction between the state and taxpayers. This study aims to form and develop a taxpayer’s understanding of the digital age with all its features and opportunities for information and communication technologies, including mathematical modeling methods that form the basis of the digital economy for building and sustaining business development, improving the systemic vision of business processes. The research hypothesis is that the further development of economic entities management in the digital context, as well as the coordination of these entities’ interests, is possible only in the partnership of the key economic participants, with the taxpayer at the forefront. That will allow identifying the areas for improving tax trajectories. Using polynomial approximation, the authors have obtained the models of tax trajectories of companies that allow predicting tax burden. The data for approximations are obtained using the previously constructed mathematical model of the optimal tax path. The main input data of the model are fixed assets and human resources, the totality of which form the production function. The analysis of the transformation of tax paths shows ways for achieving a balance of interests between both the state and the taxpayers. Finding this balance will help to overcome the crisis of confidence in the authorities, the development of adaptability and creativity of Russian society to new tax changes. A number of parameters determines the scale of this task. They include the complexity of the object of study, the long-term and multi-aspect nature of the impact which modeling the digital economy has on adaptation to the new digital realities of the state and taxpayers, as well as the absence of significant analogues of the solution to this problem in global and Russian economics.

scholarly journals Globalization Impact on Multinational Enterprises

World ◽  
2021 ◽  
Vol 2 (2) ◽  
pp. 216-230
Author(s):  
Justine Kyove ◽  
Katerina Streltsova ◽  
Ufuoma Odibo ◽  
Giuseppe T. Cirella
Keyword(s):  
Developing Country ◽  
Multinational Enterprises ◽  
Developed Countries ◽  
Global Market ◽  
Data Availability ◽  
Negative Effects ◽  
Developed Country ◽  
Excellent Starting Point ◽  
Starting Point ◽  
The Impact

The impact of globalization on multinational enterprises was examined from the years 1980 to 2020. A scoping literature review was conducted for a total of 141 articles. Qualitative, quantitative, and mixed typologies were categorized and conclusions were drawn regarding the influence and performance (i.e., positive or negative effects) of globalization. Developed countries show more saturated markets than developing countries that favor developing country multinational enterprises to rely heavily on foreign sales for revenue growth. Developed country multinationals are likely to use more advanced factors of production to create revenue, whereas developing country multinationals are more likely to use less advanced forms. A number of common trends and issues showed corporate social responsibility, emerging markets, political issues, and economic matters as key to global market production. Recommendations signal a strong need for more research that addresses contributive effects in the different economies, starting with the emerging to the developed. Limitations of data availability and inconsistency posed a challenge for this review, yet the use of operationalization, techniques, and analyses from the business literature enabled this study to be an excellent starting point for additional work in the field.

Risks of the Digitalization of Life of the Population and Ways of Decreasing Them

2021 ◽  
Vol 13 (4-1) ◽  
pp. 180-203
Author(s):  
Elena Stukalenko ◽  
Keyword(s):  
Quality Of Life ◽  
Digital Technologies ◽  
Well Being ◽  
Digital Economy ◽  
Digital Transformation ◽  
Negative Consequences ◽  
Short Period ◽  
The World ◽  
The Impact

Digital technologies, ubiquitous in our daily life, have radically changed the way we work, communicate, and consume in a short period of time. They affect all components of quality of life: well-being, work, health, education, social connections, environmental quality, the ability to participate and govern civil society, and so on. Digital transformation creates both opportunities and serious risks to the well-being of people. Researchers and statistical agencies around the world are facing a major challenge to develop new tools to analyze the impact of digital transformation on the well-being of the population. The risks are very diverse in nature and it is very difficult to identify the key factor. All researchers conclude that secure digital technologies significantly improve the lives of those who have the skills to use them and pose a serious risk of inequality for society, as they introduce a digital divide between those who have the skills to use them and those who do not. In the article, the author examines the risks created by digital technologies for some components of the quality of life (digital component of the quality of life), which are six main components: the digital quality of the population, providing the population with digital benefits, the labor market in the digital economy, the impact of digitalization on the social sphere, state electronic services for the population and the security of information activities. The study was carried out on the basis of the available statistical base and the results of research by scientists from different countries of the world. The risks of the digital economy cannot be ignored when pursuing state social policy. Attention is paid to government regulation aimed at reducing the negative consequences of digitalization through the prism of national, federal projects and other events.

The impact of financial and technological mergers and acquisitions on the world digital economy

2021 ◽  
Vol 14 (2) ◽  
pp. 174-189
Author(s):  
Natal'ya A. KHUTOROVA ◽  
Nikolai A. ROGASHKOV
Keyword(s):  
Global Economy ◽  
Banking Sector ◽  
Digital Economy ◽  
Digital Transformation ◽  
Payment Systems ◽  
Digital Inequality ◽  
Social Risks ◽  
High Volatility ◽  
Percent Contribution ◽  
The Impact

Subject. The COVID-19 pandemic brought IT companies to the leadership positions in terms of many aspects, as they contribute to a new reality and the development of digital economy. It also catalyzed the emergence of large ecosystems among financial institutions and technological giants. The M&A market mainly starts to shape global processes of the global economy digitalization, urging to scientifically comprehend the processes. Objectives. We conduct the critical analysis of the way the M&A market influences the digitalization of the global economy. Methods. Studying the M&A in the Fintech and Techfin segments, we applied methods of analysis, comparison and systematization of the information. Results. We revealed key trends in digital M&A deals, describe the impact and development of such processes in the Russian practice. Conclusions and Relevance. Every year M&A deals in the financial sectors and among IT corporations generates and raises over USD 250 billion in investment, thus making almost a 20-percent contribution to a growth in the digital economy. We found some understudies risks arising from digital M&A deals, such as deal planning risks synergy assessment risks, high volatility risks associated with prices for new companies, compliance risks, digital inequality risk and new social risks. Considering the Russian specifics and predominant positions of the banking sector, the digital transformation in Russia is noted to take place through the FinTech sector gaining momentum. To accelerate the digital constituent, it is reasonable to take the following efforts: introducing the digital Ruble as announced by the Bank of Russia, outlining a programs for supporting and encouraging national IT companies to develop non-banking payment systems and accelerate the digital transformation, connecting not only credit institutions, but also digital developers to the quick payment system of the Bank of Russia.

scholarly journals Research on the impact of artificial intelligence on the business model of an organization

E-Management ◽  
2021 ◽  
Vol 3 (4) ◽  
pp. 26-36
Author(s):  
A. A. Dashkov ◽  
Yu. O. Nesterova
Keyword(s):  
Artificial Intelligence ◽  
Information And Communication Technologies ◽  
Business Model ◽  
Digital Transformation ◽  
Successful Implementation ◽  
New Ways Of Working ◽  
Use Of Technology ◽  
Physical Assets ◽  
The Moment ◽  
The Impact

The digital transformation of our world and the inevitable interaction between people, digital technologies and physical assets create a rapidly changing and complex environment that requires organizations to be more flexible, better fit and ready to accept new ways of working. Businesses are coming to realize the need for change to operate successfully in the digital age. In the period of global digitalization, information and communication technologies are one of the most important aspects of existence for a business, which makes it more efficient, efficient and allows you to respond quickly to a rapidly changing external environment, as well as customer needs. At the moment, there is a high interest in the possibilities of artificial intelligence for use in business tasks in the world, as there are already examples of successful implementation, when Artificial Intelligence and machine learning radically change the way they work and increase the profit of organizations in different countries.The purpose of this study is to consider how artificial intelligence affects the value proposition and how the elements of the business model change when using this technology. The paper gives the existing examples of the use of technology, the consequences of its application and the emerging prospects for the use of Artificial Intelligence as one of the advanced technologies of digital transformation.

scholarly journals Digital Economy as a Factor in the Technological Development of the Mineral Sector

2019 ◽  
Vol 29 (3) ◽  
pp. 1521-1541 ◽  
Author(s):  
V. S. Litvinenko
Keyword(s):  
Mineral Resource ◽  
Russian Federation ◽  
Digital Technology ◽  
Raw Materials ◽  
Technological Development ◽  
Digital Economy ◽  
Digital Transformation ◽  
Mineral Sector ◽  
The Russian Federation ◽  
The Impact

Abstract This article describes the impact of the global digital economy on the technological development of the mineral sector in the world. Due to the different specifics of the legislative bases of the investigated regions, such as the USA, China, EU, and Africa, the development of digital transformation is presented on the example of the Russian Federation in the context of world trends. The article presents an analysis of the possibilities of using straight-through digital technology in prospecting, design, development, and use of mineral resources. It describes a structure promoting the development of applied digital technology through research–education centers and international competence centers. This structure would allow forming the new competencies for personnel working in the digital economy. The underfunding of the information and computing infrastructure could be a significant challenge to the digital transformation of the economy. Creating the conditions for a reliable and secure process of generating, storing, and using data is the basis for protection from the cybersecurity hazard that could act as a brake on technology advancement. This article discusses the organizational and technological priorities of the development of the mineral resource sector on the example of the Russian Federation. The challenges for the mineral resource complex resulting from global changes can be taken on through technological changes of the industry. The article gives a thorough description of issues related to technological developments in the raw materials sector, oil refining industry, development of integrated and advanced mineral processing systems, and the use of household and industrial wastes. The research presents basic technology contributing to sustainable development, starting from exploration and production forecasting and up to sustainable planning and distribution of material and energy resources based on real-time data. It also pays special attention to the possibilities of creating digital platforms for the mineral sector. Digital integration, combining research areas, personnel, processes, users, and data will create conditions for scientific and technological achievements and breakthroughs, providing scientific and economic developments in related industries and, above all, in the global mineral and raw materials market.

scholarly journals Transformation of the personnel competency model in the context of the transition to the digital economy

2020 ◽  
Vol 164 ◽  
pp. 09005
Author(s):  
Anna Belolipetskaya ◽  
Tatyana Golovina ◽  
Andrey Polyanin ◽  
Yulia Vertakova
Keyword(s):  
Information And Communication Technologies ◽  
Creative Thinking ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
Management Decision ◽  
Economic Relations ◽  
Leading Role ◽  
Management Decision Making ◽  
Business Structures

The purpose of the research is to study the problems of the competence interface of personnel management of business structures in the context of digital transformation and to justify the organizational and managerial measures for its development and effective use. The analysis of various approaches to highlighting the competencies of personnel in the digital economy, by which is meant the confident and selective use of information and communication technologies in the ecosystem, is presented. It is determined that the use of digital technologies is a prerequisite for ensuring the competitiveness of business structures. The leading role of “soft” skills, including both cognitive and socio-behavioral abilities, is substantiated. A three-module model of personnel competencies in the context of digital transformation is suggested, in which such digital competencies and skills as: working with digital technologies, creative thinking and behavior, professionally oriented skills in the field of production and managerial activities are highlighted. The use of the competency-based approach to the digital transformation of economic processes helps to increase the adaptability of the existing system of economic relations to the conditions of the new technological structure, and provides the possibility of introducing end-to-end technologies into management decision-making processes in order to increase their efficiency.

Creating an International Governance Regime for the Digital Economy

2017 ◽  
Author(s):  
Peter F. Cowhey ◽  
Jonathan D. Aronson
Keyword(s):  
Mutual Recognition ◽  
National Policy ◽  
Trade Agreements ◽  
Digital Economy ◽  
International Governance ◽  
Privacy And Security ◽  
Governance Regime ◽  
Trade Offs ◽  
Starting Point ◽  
The Impact

The concluding chapter lays out a strategy for creating an international governance regime for the digital economy. It identifies a core “club” of nations that could champion new digital trade agreements linked to stronger international agreements to advance a trusted digital environment—the Digital Economy Agreement. This agreement would revamp trade policy to adjust to the impact of the information and production disruption by improving rules for digital market integration and would create a foundation that simplifies and strengthens the ability to forge significant pacts advancing the goals of improving privacy and cybersecurity while safeguarding against protectionist trade risks. The design of these agreements emphasizes binding “soft rules” that allow significant variations in national policy trade-offs while establishing a minimum common baseline of policy through the soft rules. Expert multistakeholder organizations drawn from civil society loom large in the design for implementation of the soft rules through such avenues as mutual recognition schemes for certifying compliance with privacy and security objectives. If trade agreements prove unworkable as a starting point, such agreements could be anchored to other types of binding policy agreements. However, trade is the first best option for consideration before there is any decision to resort to second-best strategies.

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