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Characteristics of digital transformation of economy

Author

Listed:
  • Oleksandr Kornaha

    (Higher Educational Institution "Academician Yuriy Bugay International Scientific and Technical University")

Abstract

The article reflects key aspects of digital transformation, including its significance, impact on various sectors of the economy, requirements for governments and business structures, as well as the importance of ensuring digital security. It is established that digital transformation is not only a necessity but also an integral part of the modern world. It highlights how the rapid development of digital technologies affects various aspects of the economy, from industry to services, creating new opportunities for business and society. Additionally, the importance of adaptation by governments and business structures to the requirements of digital transformation is discussed, including the need for developing new management strategies and innovative approaches to business. Significant attention is also paid to aspects of digital security and protection of personal data, as it becomes a key component of successful digital transformation of the economy. Overall, the importance of digital transformation and the requirements and challenges it poses to governments, business, and society as a whole are highlighted.

Suggested Citation

  • Oleksandr Kornaha, 2024. "Characteristics of digital transformation of economy," Economic Synergy, Higher Educational Institution Academician Yuriy Bugay International Scientific & Technical University, issue 1, pages 189-199.
    • Handle: RePEc:bja:isteus:y:2024:i:1:p:189-199
    DOI: 10.53920/ES-2024-1-14
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    File URL: https://es.istu.edu.ua/EconomicSynergy/article/view/172/138
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    More about this item

    Keywords

    digital transformation; economy; adaptation; enterprise; strategy;
    All these keywords.

    JEL classification:

    • D29 - Microeconomics - - Production and Organizations - - - Other
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • O39 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Other

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