Characteristics of digital transformation of economy

Oleksandr Kornaha
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Oleksandr Kornaha: Higher Educational Institution "Academician Yuriy Bugay International Scientific and Technical University"

Economic Synergy, 2024, issue 1, 189-199

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.

Keywords: digital transformation; economy; adaptation; enterprise; strategy (search for similar items in EconPapers)
JEL-codes: D29 M11 O39 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bja:isteus:y:2024:i:1:p:189-199

DOI: 10.53920/ES-2024-1-14

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