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The impact of digital economy on the transformation of the labor market and forming new business models

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  • M. A. Izmailova

Abstract

The beginning of the XXI century is marked by the advent of the digital economy. In order to achieve the expected results from the digital revolution in economic and social terms, it is necessary to develop a mechanism for managing the digital transformation of the economy, in the implementation of which representatives of all stakeholders must take an active part: the state, business, education system, civil society. There are quite a lot of forecasts of negative consequences of the fourth industrial revolution, namely its latest technological achievements – robotics, digitalization, artificial intelligence, etc. – on the state of employment in the labor market on the scale of a single country and the entire global space. The constructive dialogue of the participants in the digital transformation should be based on the analysis of the impact of technological progress on employment in several aspects: short – term – temporary increase in unemployment due to the discrepancy between the structure of demand and the structure of labor supply; long-term-on the progressive reduction of demand for labor due to its technologization. The article focuses on the need for high-quality training of qualified personnel, demanded by the labor market and the real sector of the economy, the relevance of competencies which will be maintained in the long term. The author emphasizes that at the same time that technological progress leads to the elimination of «old» professions, it also dictates the need for the emergence of fundamentally new professions and the creation of new jobs, the effect of which can be significantly higher. The conducted research allowed to identify the prospects and possibilities of the technological transformation in the various sectors of the economy, at the same time stresses the need to undertake analysis of its economic feasibility in relation to the specific features of each company. The analysis of digital transformation of the industry has allowed to reveal new progressive business models, the axis of which are digital technologies.

Suggested Citation

  • M. A. Izmailova, 2018. "The impact of digital economy on the transformation of the labor market and forming new business models," Russian Journal of Industrial Economics, MISIS, vol. 11(3).
    • Handle: RePEc:ach:journl:y:2018:id:694
    DOI: 10.17073/2072-1633-2018-3-296-304
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    References listed on IDEAS

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    1. Tim Kelly & Aleksandra Liaplina & Shawn W. Tan & Hernan Winkler, 2017. "Reaping Digital Dividends," World Bank Publications - Books, The World Bank Group, number 26151, December.
    2. Loet Leydesdorff, 2012. "The Triple Helix, Quadruple Helix, …, and an N-Tuple of Helices: Explanatory Models for Analyzing the Knowledge-Based Economy?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 3(1), pages 25-35, March.
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