Scholarly record

THE CONDITIONS FOR DIGITAL ECONOMY DEVELOPMENT AS THE MODERN TREND OF KNOWLEDGE SOCIETY FORMATION

T. Sizova, D. Sizova, J. Gordeeva

Abstract

Increasingly big amount of discussions is currently formed around digital revolution and the formation of information and knowledge society. To date digital economy has become the background of tectonic developments, which are shaping the form and structure of national economies and regional clusters, thus, influencing the nature and models of business development. Digital economy has occupied the integral role in diverse economic spheres such as: education, medicine, electrical energy, transportation, logistics and telecommunication, heavy, light and military production, banking, trade and many others. Digital technologies such as Internet of things (IoT), big data, development of gadgets and mobile applications are shaping the new world of modern and effective approaches and methods of social networking, and these methods interrelate with economic relationships of households and institutions. This initiates new directions in cooperation and coordination development of economic agents for shared solutions in the modern sharing economy. The authors of the article are making the assumption that for each country it is crucial to effectively participate in digitalization processes for enhanced national security, strong economic development and increased level of societal literacy. The aim of the provided article is to analyze trends of digital economic development, provide analytical description, basing on the common possibilities and occurring problems, demonstrate knowledge-based projections with the consideration of global trends in the digitalization of economic relationships. The specific impact of the article will be described in: В• evaluation of digital economy contribution to the current social relations; В• presentation of its impact factors and the role in economic development of the countries; consideration of the core development directions and В• anticipation of the digital development economic results. The authors pay specific research attention to the economic effect of introducing digital innovations, namely, on the development of World Economy by 2025. The empirical research also includes the analysis of GDP value growth in Russia, China, the USA, stipulated by the introduction of digital technologies. The main field of research interest lies in analysing digitalization in Russia. The chosen methods for the article are presented by: abstract-logical, systematic analysis, structural analysis and empirical research. The main value of the presented report lies in the possibility to benchmark the comparative digital experience of Russia and the other presented countries for breakthrough developments in the modern economy. The results of the report give sound rationale for intensifying the process of transformation from consuming digital products to initiating and accelerating development of digital product-oriented economy.

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