DIGITAL TRANSFORMATION OF ECONOMIC PROCESSES

Abstract

Topicality. Digital transformation is shaping a new reality. It develops at a very fast pace due to innovations. Technologies and innovations change their orientation under the influence of the external environment and turn from technological innovations into innovations in the field of economic processes and implementation of business models.Aim and tasks. The purpose of this scientific article is to study the further transformation of economic processes and business models in Ukraine and the world. The tasks of this study are: to determine the spheres of influence of digital transformation; to consider the creation of various types of values: to investigate modern technologies of economic development; analyze positive changes from the digital transformation of economic processes.Materials and Methods. Comparative analysis, system analysis, theoretical generalization of scientific research, content analysis, structural and logical analysis, grouping, modeling. Also, scientific research is developed on the basis of data from the State Statistics Service, scientific publications.Research results. The article defines the spheres of influence of digital transformation: the economic structure under the influence of digital technologies (changes in: traditional markets, state administration, social relations); sources of added value and structure of the economy (formation of effective economic processes thanks to digital infrastructure); functions of the economic development mechanism to institutions that function on digital models and at different levels (markets, types of economic activity, industries, spheres of activity); technological level of development (advanced technologies, digital platforms); the market environment (business models) as a single environment that optimizes the development of economic and technological levels and strengthens their interaction (normative regulation, information infrastructure and security, human resources). The creation of different types of values is considered: cost savings, the value of gaining experience, the value of the participation of subjects. Modern technologies of economic development are studied: artificial intelligence, cloud computing, mathematical modeling, blockchain, cyber-physical systems, robotics, 3-D technologies, additive technologies, identification technologies, "Internet of Things". Positive changes from the digital transformation of economic processes are analyzed.Conclusions. In the modern world, a new paradigm of further development is being formed, and it consists, first of all, in the digital transformation of economic processes and business models. In the course of these processes, business conditions, business processes and markets are changing, transaction times and transaction costs are reduced thanks to digital platforms.Digital businesses are capturing markets and creating competitive conditions to drive down prices. Users of the platforms quickly make the transition to a more attractive price offer. At this time, the cost of transactions is reduced, which affects the demand for goods/services and leads to an increase in the share of digital markets. Business models that functioned effectively before are gradually being replaced by platform ones. Traditional operations in industries, sectors, and markets are turning into platform ones.