Industry 4.0 and creative economy (globalization challenges of the time)

Abstract

Scientific intelligence aims to position Industry 4.0 and the creative economy as components of the modern economy in the local and global dimensions. The new economic reality is causing transformations in all areas of life. At the same time, the economy also needs innovative transformations and a new development paradigm. Information and technology are the two key elements that condition the revolution 4.0 in the modern scientific picture of the world. The task of the article is to differentiate the concepts: The 4th industrial revolution, Industry 4.0, creative economy, and determination of the demanded and effective economic model in the modern socio-cultural space. Research methodology is based on general scientific methods (analysis, systematization, classification, structurization), methodology of scientific and economic discourse (method of absolute and comparative advantages, modeling, optimization, determination of equilibrium), and scientific and philosophical methodological synergetic principle. The results of the study are expressed in the theoretical-methodological and organizational-logistic guidelines for the innovative format of a modern economy based on the principles of informatization and technologization and corresponding to the ideas of the global paradigm of the 4th industrial revolution. So, the modern economy is guided by the principles of dynamism, mobility, pragmatism, and creativity. These concepts form the innovative potential of the modern economic paradigm and the basis for the implementation of the processes of digitalization, informatization, and technologization.