The essence, features, and parameters of the digital economy

Abstract

Methods. Using the general theoretical (analysis, synthesis, induction, deduction) and special (systematization, abstracting, decomposition) methods of scientific knowledge, the article explores the theoretical foundations of the digital economy and provides a critical comprehensive analysis and systematization of scientific and practical approaches to the interpretation of the essence of the digital economy and processes of its digitalization. Results. The main advantages of the process of digitalization of the economy and socio-economic processes in comparison with the traditional market are listed. The primary source of the scientific origin of the theory of digital economy and digitalization in foreign countries is revealed. The main scientific works are identified, the authors of which raised the question of the need to transform the economy into a digital type economy. There are considered modern generally accepted interpretations of the digital economy by various foreign state institutions in the context of the adoption of concepts and programs of digitalization of the economy and socio-economic processes. The main components of the digital economy are identified, namely: infrastructural support of electronic business (e-business infrastructure), electronic business (e-business) and electronic commerce (e-commerce). The drivers of digital transformation in the economy are identified: the Internet of things, big data, artificial intelligence, block chain technology. The approaches to the interpretation of the essence of the digital economy by foreign and domestic scientists are systematized and analyzed. Novelty. The relationship between the digital economy and the new technological structure, the fourth industrial revolution based on information systems and technologies, and knowledge bases, is substantiated. The authors propose their own definition of the digital economy with the emphasis on the complexity of this concept and phenomenon. Practical value. The features of the digital economy and its manifestations against the backdrop of the deployment of the fourth industrial revolution on the basis of information technology and knowledge bases are determined. The domestic experience of deployment and regulatory support of the transformation of the economy into a digital economy is analyzed.