Social Consequences of Economy Digital Transformation

Abstract

Today, digital transformation is bringing an era of change. The world is changing as a result of digital transformation, introducing modern digital technologies into our lives As a result of the introduction of digital technologies, all spheres of life and production are changing: in the sphere of economic relations, a digital economy is emerging, in the sphere of interaction between society and the statea digital government, in the sphere of hightech infrastructurea digital space, in the sphere of state development-a digital society. Digital transformation relies on the automation of all business processes, has an impact on human relationships and individual behavior. At the same time, digital transformation can lead to serious social consequences, such as increased unemployment, reduced labor force, the disappearance of companies, cybercrime, social anomie, and so on.

Genetic argument and new knowledge creation in strategic management

“…Today's profound developments in digital, green and innovative economies are no less filled with opportunities to study their theoretical and practical implications for management, including in inequality, social justice and access to resources and opportunities. Ivushkina et al (2021), for instance, focused on the contradictory socio-economic impacts of the digital economy, observing that the widespread use of digital technologies can increase labor productivity, reduce costs and create new jobs on one hand, and on the other, can also increase unemployment in some sectors, create monopolization of markets, and increase income disparities. What insights might present-day management scholars studying digital economies gain from the thought-leading work of Barney (2005)?…”

“…Ivushkina et al . (2021), for instance, focused on the contradictory socio-economic impacts of the digital economy, observing that the widespread use of digital technologies can increase labor productivity, reduce costs and create new jobs on one hand, and on the other, can also increase unemployment in some sectors, create monopolization of markets, and increase income disparities.…”