Digitalization as a Trend of Modern Development of the World Economy

Bezrukova, Nataliia; Huk, Larysa; Chmil, Hanna; Verbivska, Liudmyla; Komchatnykh, Olena; Kozlovskyi, Yevhen

doi:10.37394/232015.2022.18.13

Cited by 15 publications

(10 citation statements)

References 24 publications

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“…The modern economy is defined by a rapid pace of digitization, which, as noted by Bezrukova et al (2022), is a key driver of both global and domestic economic growth. It is worth noting that financial technologies (FinTech) are gaining significant importance as key innovations in the financial sector.…”

Section: Literature Reviewmentioning

confidence: 99%

Integration of Digital Means in the Financial Sphere: The Potential of Cloud Computing, Blockchain, Big Data and Ai

Lytvyn,

Kudin,

Onyshchenko

et al. 2024

ФКДПТП

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The integration of digital means in the financial sphere nowadays is not just a necessity, but also a strategic step that determines the further development of this industry. The modern world of finance bets on high technologies, namely on such key areas as Cloud Computing, Blockchain, Big Data and Artificial Intelligence (AI). The purpose of our article is to conduct an in-depth analysis of the potential of Cloud Computing, Blockchain, Big Data and Artificial Intelligence (AI) technologies in the context of their impact on the financial sphere. The object of our article is the financial sphere, including banking, the investment sector, insurance, and other component industries that interact with finance. As a result of the conducted research: the advantages and disadvantages of the integration of digital means in the financial sphere are considered; the potential of Cloud Computing, Blockchain, Big Data and AI in the financial sphere was investigated; it is emphasized that all these technologies are already changing the financial sphere and have great potential for further development. Thanks to them, financial institutions can be more competitive, respond faster to changes in the market, and provide more innovative services for customers. Therefore, the integration of these digital means into the financial sphere is a necessity and a key direction for the further development and modernization of the industry. Cloud Computing, Blockchain, Big Data, and Artificial Intelligence (AI) technologies enable financial institutions to increase efficiency, reduce costs, and improve customer service.The challenges of implementing new technologies in the financial sector include the absence of a unified regulatory framework, high costs associated with transitioning to digital platforms, and resistance from traditional players. These challenges can be addressed by creating clear regulations, providing financial support to companies transitioning to digital technologies, and fostering partnerships between innovative startups and large financial institutions for collaborative development and implementation of technological solutions.

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Section: Literature Reviewmentioning

confidence: 99%

Integration of Digital Means in the Financial Sphere: The Potential of Cloud Computing, Blockchain, Big Data and Ai

Lytvyn,

Kudin,

Onyshchenko

et al. 2024

ФКДПТП

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“…Sweden, Malta and Estonia as examples) [16,17] and analyzing various indicators, such as the Digital Economy and Society Index (DESI) and the IMD Digital World Competitiveness Index [18]. There was revealed a close connection between the promotion of digital market homogeneity and the training of staff in information technology skills in some European Union countries [19]. Thus, it is digitalization is important in stimulating economic development at the global level.…”

Section: Literature Reviewmentioning

confidence: 99%

The influence of digital business on the economy and innovation development in Kazakhtan

Makasheva,

Tussupova,

Chowdhury

2023

jour

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The purpose of this study was to analyze the impact of digital transformation processes in business on economic performance and innovative development in the Republic of Kazakhstan. To achieve this goal, data covering 2013–2022 was used, and statistical analysis methods were applied. As part of the research methodology, an analysis of the level of digital activity of enterprises was carried out, as well as an assessment of indicators of innovation activity. Statistical models are used to study in detail the impact of digital transformation on the economy and innovation. The leading indicators that the analysis focused on were the level of use of information and communication technologies by businesses, access to Internet resources, and the participation of firms in ordering and receiving orders online. In addition, the share of innovative products in total GDP is considered. The results obtained indicate positive trends in the process of digitalization of enterprises in Kazakhstan. The impact of digital transformation on the economy, measured by GDP, was less pronounced compared to the impact on innovation. Key indicators, such as Internet access and ICT use, are identified that demonstrate the statistically significant impact of digitalization on business. The study recommends several measures, including stimulating innovation through digitalization, supporting the development of information and communication technologies, and monitoring and regulatory measures to support digital and innovative development in the Republic of Kazakhstan.

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“…Organization of the work process with the widespread introduction of remote employment in the future should provide employees with technical means, additional computers, monitors, laptops and the creation of conditions for obtaining appropriate skills and knowledge to work in (Bezrukova et al, 2022).…”

Section: Remote Workmentioning

confidence: 99%

Remote Employment: A Short-Term Strategy for Adapting to the Crisis or the New Reality of Human Resource Management

Казак¹,

Obelets

2022

BJES

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The purpose of the article is to explore the use of remote employment as a short-term adaptation strategy for the enterprise in times of crisis and as a long-term strategy for human resource management in the future. The subject of the study is new strategies in human resource management, which began to be widely used during the COVID-19 pandemic. The main focus of the article is on remote employment. Its spread is studied, on the one hand, as an opportunity for companies to adapt to crisis phenomena in the short term, on the other hand, as a long-term strategy in human resource management, which will become a new reality in the management process. Methodology. This article uses a comprehensive approach using the component method and multivariate correlation to analyze the results of public opinion surveys on the introduction of remote employment as a human resource management strategy in an unstable environment and to examine the likelihood of digitalization of labor. Results. An analytical assessment of sociological research on the introduction of remote employment as a strategy for human resource management in conditions of instability was carried out and trends were identified, the main ones for different countries. The probability of digitalization of labor and the use of remote employment for workers with different educational and qualification levels and different professional groups were investigated. The effectiveness of the introduction of new flexible forms of employment and adaptation to remote employment in enterprises was analyzed. It has been proven that the effectiveness and sustainability of the positive results achieved can be maintained with the clear planning of work processes in the enterprise. The practical implications of this study are the optimization of a set of human resource management strategies and remote employment in particular, as well as a radical revision of the format of the work organization. This study was performed as part of the research work of the Department of Finance and Economics of Borys Hrinchenko Kyiv University (№ 0118U001561) on the topic: "Development of the economy of Kyiv in terms of European integration".

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Digitalization as a Trend of Modern Development of the World Economy

Cited by 15 publications

References 24 publications

Integration of Digital Means in the Financial Sphere: The Potential of Cloud Computing, Blockchain, Big Data and Ai

Integration of Digital Means in the Financial Sphere: The Potential of Cloud Computing, Blockchain, Big Data and Ai

The influence of digital business on the economy and innovation development in Kazakhtan

Remote Employment: A Short-Term Strategy for Adapting to the Crisis or the New Reality of Human Resource Management

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