Abstract

In recent decades, the world has been experiencing the modernization of traditional manufacturing and service indus-tries in the global penetration of new information technologies into all spheres of social life. Digitization (or the economy dependent on digital technologies) gives a new impetus to creating new markets, new digital skills, and opportunities in society, business, and the state. Digitization of the economy is a particular stage of the modern development of scientific and technical progress, which is associated with the comprehensive implementation of Internet networks, computer and infor-mation technologies, electronic trade and commerce, cloud services in industrial, social, public, and other spheres of activity, as well as affect all sectors of the economy. The development of information technologies and systems today facilitates the work and management of the company. It improves the enterprise's activity in general, creating new opportunities and in-creasing the efficiency of the creation of each employee and staff in general. The impact of information technologies is at all stages of the company's activity – from business planning to changing the direction of action. Currently, completing indus-trialization and transitioning to Industry 4.0, the country is digitizing all economic activity, creating and developing new innovative products and technologies at an accelerated pace, dominated by digital platforms, artificial intelligence, in-formatization, and automation. The main goal of the economic transformation processes of digitization is the transformation of production into a flexible one adapted to existing realities, which increases the country's competitiveness in the "digital space". Digitization is a means of obtaining the necessary results that meet modern society's and businesses' needs for addi-tional profits. The digital economy requires knowledge about advanced goods and services and increasing the importance of innovation in the sustainable development of the world economy. The amount of information inherent in the digital economy fundamentally changes the functioning of markets, creating new development opportunities. Management processes are also changing, which in the digital economy are based on the transparency of management and decision-making processes and on the completeness and accuracy of source information. Digital technologies make it possible to process large amounts of in-formation to make optimal economic decisions, as well as improve the quality of the processed data. Keywords: digital economy, digital technologies, digitalization, economic processes, competitive environment.

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