ЦИФРОВІЗАЦІЯ СТРАХОВОГО СЕКТОРУ: ПІДВИЩЕННЯ ЕФЕКТИВНОСТІ, КОНКУРЕНТОСПРОМОЖНОСТІ ТА ЯКОСТІ ПОСЛУГ

Bled eConference, organized by University of Maribor, Faculty of Organizational Sciences, has been shaping electronic interactions since 1988 and is celebrating its 30th anniversary in 2017. Bled eConference is the oldest, most traditional and well renowned conference in the field. It attracts speakers and delegates from business, government, information technology providers and universities and is the major venue for researchers working in all aspects of “e”. The theme of this year’s conference is dedicated to “Digital Transformation – From Connecting Things to Transforming Our Lives”. The evolution of digital technologies and solutions (e.g. Internet of things, mobile technology, social media, cloud and high performance computing, artificial intelligence and advanced machine learning, virtual and augmented reality, big data & big data analytics, service architecture, digital technology platforms, 3D printing, robotics etc. …) has significantly impacted on the way how business is conducted and had big implications on our lives. The nowadays digital economy calls for transformation of businesses, governments, education and societies as whole. It also calls for enabling policies and politics for cross border and global digital business. Digital transformation is reflected in the organizations’ ability of comprehensive transformation of business activities, processes, competencies and business models in order to take advantage of digital technologies. Digital technologies require changes in our mind set, culture and functioning and have strategic impact on both the organization itself and its business ecosystems. In this year’s conference, we address various aspects of digital transformation and provide directions and guidelines for organizations to overcome challenges on their way of successful digital transformation. Themes covered in the papers of these proceedings are focused to digital transformation challenges, opportunities and cesses, furthermore to business model innovation, social media and big data analytics implementation, e-health, digital wellness and wellbeing experiences, new applications and organizational models, and novel approaches and cases in education in digital economy.

Digital technologies enable companies to transform existing product or service models into intelligent models and apply data-driven strategies to become more competitive. The emergence and application of digital technologies enhances the innovative potential of enterprises. In a world where companies operate in a highly competitive environment, they are under increasing pressure to make the most of their available resources to innovate and improve their performance. Therefore, companies that innovate using digital technologies can improve their productivity and become innovative companies. The use of digital technologies such as artificial intelligence, cloud computing, data mining, and the Internet of Things in companies leads to significant business achievements such as improved customer service and engagement, simplified operations, and business innovation. Digital technologies, including information and communication technologies, have enabled some small businesses to cope with some of their liabilities. In addition, due to the 2020 COVID-19 epidemic, which has had a significant impact on global behavior, the simultaneous development of several key digital technologies in the ICT field has developed at an unprecedented pace, affecting all sectors and industries. The development of digital technologies such as artificial intelligence, the Internet of Things, blockchain, and fifth-generation wireless networks (5G) has created a viable ecosystem for identifying and exploiting new opportunities in business and industry. Digital technologies and platforms are transforming existing enterprises and industries. New business models, new products, new forms of innovation, and enterprise transformation to adapt business operations and strategies to the digital era are some of the impacts of digital technologies on business and entrepreneurship. The purpose of this paper is to analyze the current methodology of digital transformation based on artificial intelligence, while revealing the flexibility and empowerment of human capabilities. The object of the study is the accounting methodology used in commercial banks for accounting, classification and presentation of digitalization in the field of artificial intelligence development. The methodological basis of the study is based on the Laws and regulatory decrees on the development of science and technology. The main hypothesis of the study is that the current methodology reflects a targeted improvement in significantly increasing the transparency and quality of digital decision-making. Presentation of the material. The main material of the article is an analysis of the methodology based on the regulatory framework in force in Azerbaijan. It emphasizes the role of artificial intelligence in the structure of the use of digitalization, and also offers recommendations for improving the digital economy to ensure an accurate reflection of the economy today. The originality of the article lies in the assessment of the existing methodology of the digital economy, identifying the factors influencing decision-making to strengthen the implementation of the digital economy. The practical significance of the study lies in the proposed facts on compliance with regulatory requirements and making more informed decisions both within and outside the country. Conclusions. The study concludes that the current methodology leads to transparency and accuracy in reflecting the widespread implementation of digitalization. These methodological improvements are expected to facilitate faster adoption of artificial intelligence.

Abstract. Relevance: The relevance of the study is designated by the development of digital technologies which are increasingly being used to optimize business processes. At the current stage of entrepreneurial development transformation of companies is being observed and representatives of digital businesses achieve the greatest capitalization. Employees of banking organizations are replaced by bots and artificial intelligence. In this regard, the requirements for entrepreneurs and mercenary managers are changing. This requires the search for new educational approaches to training of specialists. Purpose: to develop an author model of digital business transformation on the results of a survey (research method) conducted among the students of the Faculty of Engineering Business and Management of the Bauman State University and from Plekhanov Russian University of Economics. To reflected the modern vision of future entrepreneurs and managers for a new concept of skills mix vital for business development in the cause of digital transformation and competitive sustainability and to identify both positive and negative aspects of start-up entrepreneurs’ performance in digital economy. Methods and methodological units of research: comparative content analysis, empirical study, polling. The main results: Contradictions of digital business through an entrepreneur prism and consumer position were revealed. The conclusion is drawn that digital economy, on the one hand, is boiled to self-reliance of subsystems (state, business, society) of the system (digital economy). On the other hand, the state, business and society are premised on the scope of competencies, as far as the role of a human in digital economy may be minimized but no completely abandoned. The key factors that affect digital transformation were defined: process optimization, data, business models, infrastructure and tools, people and competencies, culture and interaction. Scientific novelty of the study lies in the author’s concept, according to which the key role in the digital economy era is assigned to the state (state as a platform), business (digital platforms, ecosystems, radical business models), society as a key factor in digitalization. In this regard, an assessment of the digital transformation is provided through the lens of a positive, critical and pragmatic view of society (experts and respondents). Practical relevance: The research results can be used by higher educational institutions to adapt their educational programs to the interests of economists and entrepreneurs, taking into account the growing informatization and digitalization of business processes.

The article is devoted to the study of theoretical and practical aspects of the insurance market evolution in Ukraine under the conditions of the digital economy. It is substantiated that in recent years, digitalization the Ukrainian insurance market have shown dynamic development; however, in terms of implementation of digital technologies, insurance companies still lag behind banking institutions. The existing approaches in academic literature to classification of digitalization stages of the insurance market are analyzed, and the need for further research in this area is emphasized, taking into account ongoing transformations driven by the digitalization of the economy and society. Based on the analysis of performance indicators of insurance companies during the period 2021–2024, the trend has been identified toward reduction in the number of market participants alongside the increase in the volume of electronic insurance policy, particularly for the “Green Card” and the compulsory motor third-party liability insurance (MTPL). Structuring of digital transformation processes within the Ukraine’s insurance market made it possible to identify critical growth points, adaptation challenges for insurers, and preconditions for integration of innovative InsurTech solutions. It is noted that development of digital technologies is accompanied by emergence of new risks inherent to the digital economy, which can be mitigated through insurance mechanisms. This determines necessity of transforming the existing operational model of the Ukrainian insurance market in line with needs of insurance service consumers and requirements of both national and European legislation. As a result of the study on evolution of the insurance market under digital economic conditions, key stages of its development were identified, namely: expansion of online insurance services; creation of mobile applications and web platforms by insurance companies; implementation and growth of InsurTech and the Internet of Things in insurance; digitalization of business processes; and overall digital transformation of the insurance ecosystem. Systematization of these stages allows for identification of key trends in digital transformation of the insurance market and definition of priority directions for its further development.

This study was motivated by the increasing use of Artificial Intelligence (AI) technology in learning. The development of this technology raises the question of whether the use of AI technology is more likely to have a positive impact or a predominantly negative impact. The purpose of this study is to describe the use of AI technology in competing theoretical assignments by students in the Fashion Design Education undergraduate program. This study uses a descriptive quantitative approach. This research involved a population of 173 Fashion Design Education undergraduate students from the 2023-2024 cohort, and a sample of 121 respondents was obtained through purposive sampling. The research instrument was a questionnaire that had been tested for validity and reliability. Data analysis used tabulation and frequency distribution to describe trends in AI utilization in several aspects. The results show that the use of AI technology in completing theoretical assignments range from moderate to very high category, indicating that AI was used quite intensively by students to support their academic activities. Thus, it can be concluded that AI technology serves as a tool used by students to support the completion of theoretical assignments.

Strategic priorities of social production digitalization: world experience

Electronic business (e-business) in the context of the digital economy is experiencing profound changes driven by continuous technological advancements. Innovations such as artificial intelligence (AI), big data analytics, cloud computing, and the Internet of Things (IoT) are reshaping how businesses operate, engage with customers, and manage operations. The transition from traditional business models to digital models has become an essential process for organizations striving to remain competitive. This paper explores the key developments in e-business, focusing on how companies adapt their business models to leverage emerging technologies, improve efficiency, and enhance customer experiences. The shift from physical to digital platforms, the integration of automation technologies, and the personalization of services through big data and AI are central to this transformation. The study identifies several important trends and challenges companies face when implementing digital business models. These include optimizing operational processes, ensuring cybersecurity in the digital space, and managing the increased complexity that comes with digital transformation. One of the key challenges is the ability of organizations to integrate new digital solutions into their existing business strategies without disrupting ongoing operations. Additionally, the paper discusses the importance of innovation in the digital economy. As businesses increasingly rely on digital platforms and data-driven approaches, it is crucial for organizations to adopt a culture of continuous innovation to meet everevolving customer demands. The role of digital ecosystems and collaboration among companies, consumers, and partners is also highlighted as a driver of innovation. Furthermore, the research emphasizes the critical need for flexibility in business models to adapt to rapidly changing market conditions. In conclusion, the paper underscores the significance of embracing digital transformation in e-business for long-term success. The integration of digital technologies not only optimizes business operations but also opens new avenues for business growth and value creation. Companies that can successfully navigate these transformations will be better positioned to compete in the increasingly interconnected and data-driven global market.

LAW IN DIGITAL REALITY

Introduction. In the conditions of the Fourth Industrial Revolution, the Ukrainian labor market was greatly affected by digital transformation. New professions are emerging, new competencies are needed, the landscape of demand and supply on the labor market has changed. In this regard, research devoted to the clarification of theoretical and methodological approaches to the study of the transformation of the labor market was updated. Goal. The challenges of the new economy, which affected the field of employment, determined new trends to accelerate changes in the field of digitization, automation and robotization of the labor market. Methods. The following modern research methods were used to achieve the defined goal and fulfill the outlined tasks: forecasting method - to identify future advantages when using artificial intelligence, digitization in the labor market; the grouping method - for the classification of methods and factors influencing the transformation of the labor market; historical and logical analysis - to reveal the process of formation and development of digital technologies in the labor market; modeling method - for building digital competences. An analysis of changes in the labor market under the conditions of the Fourth Industrial Revolution was carried out. The transformations taking place in the social and labor sphere under the influence of information and communication technologies, network systems, other resources and institutions of the new digital economy are a complete, comprehensive transformation of values, motivational attitudes, hierarchies, sources of development, the structure of resources, forms and technologies of interaction, forms and scales of employment, level, structure, income differentiation. Results. Attention is paid to the issue of dependence on the introduction of automation and robotization of production and the reduction of demand for workers with a low level of education and low professional qualifications. It is noted that under the influence of the Fourth Industrial Revolution, the main attention will be paid to digital competences in the near future. It was determined that the development of the digital economy, despite the possible threat of the disappearance of certain professions, can lead to an increase in the level of employment in the country due to the creation of conditions for the emergence of new professions, but on digital platforms. The impact of digital technologies on changes in employment was analyzed, the most in-demand competencies and skills on the labor market were determined. It is substantiated that the transformation of employment from the point of view of digitalization creates a demand for competencies that will enable specialists to work with complex digital systems, platforms, special equipment, demonstrate analytical skills, emotional intelligence, a high level of IT literacy, apply systems thinking, etc. Conclusions. The labor market is undergoing significant changes during the Fourth Industrial Revolution, which includes high-tech and digital innovations in the field of information production and processing. Industry 4.0 is defined by the use of advanced production technologies, such as the Internet of Things, artificial intelligence, data analysis, robotics, lockchain, etc., which significantly affect the digitalization of the labor market. The latter affects the demand for labor, causing changes in certain professions.

The article studies enterprise personnel management, efficiency factors, and features of its provision in the digital economy. The relevance of issues related to enterprise personnel management in the digital economy is determined by several key factors that reflect modern trends and challenges in the business world. First, with the development of digital technologies, such as artificial intelligence, big data (Big Data), cloud computing, and the Internet of Things (IoT), business structures are forced to adapt to new conditions. Digital transformation permeates all aspects of enterprise activity, including personnel management. This creates a need for new approaches and opens exciting opportunities for organizing work and improving efficiency and productivity by introducing digital tools. Although both Ukrainian and foreign scientists have devoted their work to studying issues in personnel management, various aspects, including the existing problems of personnel management in the digital economy, require further research, considering modern business conditions. The digital economy has been proven to impact traditional sectors such as industry, services, trade, and public administration. It helps to accelerate innovation, increase labor productivity, and stimulate economic growth, but it also poses new challenges to society, particularly about data security, privacy, and regulation. It is emphasized that the organizational and economic support of the company’s personnel management in the digital economy requires a comprehensive approach that combines technological innovations, changes in the organizational structure, and new models of economic management. Integrating these elements is essential to ensure the enterprise’s competitiveness in the market. The main components of providing personnel management for the enterprise in the digital economy are substantiated (organizational changes, economic support, digital tools of personnel management, motivation and development of personnel, risk management). Keywords: enterprise, personnel management, digital economy, digital technologies, digital skills, efficiency, software.

The digital economy refers to the economic activities that emerge from connecting individuals, businesses, devices, data, and operations through digital technology. It includes online transactions across multiple sectors and technologies, such as the Internet, mobile technology, big data, and information and communications technology. The digital economy differs from a traditional economy because it relies on digital technology, online transactions, and its transformative effect on traditional industries Digital innovations such as the Internet of Things (IoT), Artificial Intelligence (AI), Virtual Reality, Blockchain, and autonomous vehicles all play a part in creating a digital economy. For this study, various papers on ”Digital Economy” and ”Industry 4.0” are identified from Scopus, Google Scholar and other research platforms and further studied briefly. This review paper has been developed after studying the digital economy and its needs in the Industry 4.0 Environment. The defining trends, key enablers, features and challenges associated with the digital economy towards Industry 4.0 are discussed briefly. Finally, the paper identifies and discusses the significant requirements of Industry 4.0 fulfilled through the digital economy. Today, customers are becoming aware of goods and services online and are turning to the industry for long-term solutions by deploying digital technologies. The digital economy is built on hyper connectivity, the growing interconnectedness of individuals, organisations, and machines due to the Internet, mobile technologies, and the IoT. Industry 4.0 technologies are automation, data exchange, cloud computing, robotics, big data, AI, the IoT, and other technological trends are all part of the industrial sector’s digital transformation, which aims to achieve industrial objectives and intelligent manufacturing practices that engage with customers, emerging technologies, and innovation. The economy is becoming more digital, changing how products and services are provided and consumed. A new road map is being provided by Industry 4.0 services to help many industries adapt their conventional methods and support the new revolution. In the digital economy, scaled-up, integrated ecosystems that leverage software platforms to generate value, build resilience, and stimulate innovation via networked goods, assets, people, and processes rapidly replace old, linear value chains with partner participation.

The modern world is changing rapidly. The society is already at the stage of its development when information has become an important strategic and managerial resource. Socio-economic transformations and advances in digital science and technology inevitably require radical changes in the organization and management processes of public authorities. The work is dedicated to a topic that is currently relevant, has not been sufficiently studied and requires further research-the use of artificial intelligence (AI) and Big Data technologies in the activities of law enforcement agencies. The article presents some of the main areas of application of automated intelligent processes in investigative, operational and investigative activities, in the field of public order protection and public safety, and in penitentiary institutions. Possible ways to improve the use of AI and Big Data technologies in law enforcement agencies are presented, and tasks aimed at solving “problem areas” of their application are formulated. The work is interdisciplinary in nature, combining the methods and results of previously conducted research in a number of sciences and scientific disciplines.KeywordsAI technologiesBig dataLaw enforcement

The article substantiates the role of digital transformation as a systemic factor in the modernization of information support for enterprise financial flow management within the framework of the data-driven economy. The study focuses on the evolution of financial information systems and managerial decision-making tools, highlighting the transition from fragmented and reactive information processing to integrated, analytics-oriented and real-time financial management models.The research analyzes the historical development of financial information technologies, from early communication tools such as the telegraph and telephone to contemporary digital platforms based on Big Data analytics, Business Intelligence (BI), artificial intelligence (AI), the Internet of Things (IoT), blockchain technologies, ERP systems and regulatory technologies (RegTech). Particular attention is paid to the conceptual distinction between digitization and digital transformation. Digitization is interpreted as the automation and digital conversion of individual financial operations, whereas digital transformation is defined as a comprehensive restructuring of financial management logic, organizational processes and analytical capabilities based on advanced digital technologies.The article proposes a conceptual model of digital transformation of information support for financial flow management, which integrates three interrelated levels: technological, analytical and managerial. At the technological level, modern digital tools ensure automated data collection, integration and secure storage of financial information. At the analytical level, BI systems, predictive analytics and AI-based solutions enable real-time analysis, forecasting and risk assessment. At the managerial level, digital transformation supports the transition to data-driven management, enhances transparency of financial flows and improves the quality of strategic and operational decision-making.Based on the analysis of practical cases from international and domestic companies, including Coca-Cola HBC, Starbucks, UPS, Procter & Gamble and IDS Ukraine, the article demonstrates how digital transformation contributes to increased productivity, reduced operational and transaction costs, improved accuracy of financial reporting and enhanced financial sustainability. These cases confirm that enterprises implementing integrated digital solutions achieve higher flexibility, faster response to market changes and more effective control over financial resources.The results of the study indicate that digital transformation of information support is not limited to technological modernization, but acts as a strategic driver of enterprise competitiveness and financial resilience. The findings emphasize the necessity of further development of integrated analytical platforms, strengthening cybersecurity and improving data quality management systems as key prerequisites for sustainable financial flow management in the digital economy.

Intrinsic value of food chain data

The introduction and development of digital technologies has led to a market transformation, which, in turn, requires entrepreneurs to reconsider their business models and realize new business development prospects. Research shows that Russian companies are steadily increasing their digital potential. Digitalization affects financial markets and transforms their individual segments, including the insurance market. Issues of a debatable nature on the use of end-to-end technologies in insurance require clarification and the development of new approaches. Research materials and methods include analysis of the state, problems and prospects for the development of end-to-end technologies in insurance, which necessitated the use of methods of horizontal and vertical analysis, comparison, observation and others. Digitalization for the insurance market is an opportunity for a qualitative breakthrough. The use of new technologies in the digital economy will affect the insurance industry without changing its economic essence. In addition, the digitalization of insurance activity is accompanied by significant innovations that increase the efficiency of the previous one, and the development of new insurance programs within the framework of digitalization in order to transform insurance. The most common end–to-end technologies in insurance are "smart" technology – telematics, artificial intelligence, Big Data and Machine Learning, blockchain and others. The role and directions of using end-to-end technologies in insurance are substantiated. It has been established that insurance is a necessary tool for maintaining the stability of society, changes in the structure of this industry have been identified, which made it possible to make an assumption about the willingness of the population to use these services. The rating assessment of the digital maturity of insurance companies revealed the top five in terms of the digitalization of insurance services. The scientific novelty of the work consists in substantiating the use of end-to-end technologies in insurance in order to increase the efficiency of insurers, minimize risks, reduce transaction costs, increase profits and speed of interaction with the market.