Digital transformation as an imperative for innovative development of the global economy

Abstract

Innovation has long become a key factor of competitiveness for both individual companies and countries as a whole, as well as an effective means of responding to global social and environmental challenges. The purpose of the article is to substantiate the conceptual model of the digital transformation of the global economy, which includes the prerequisites, goals, principles, digital technologies, advantages and risks (threats) of digital transformation at the level of state and corporate governance. The methodological basis of the article is general scientific and special research methods: analysis and synthesis, modeling, historical, systemic, structural and logical methods. The generalization of literary sources made it possible to determine the goals, principles, certain advantages, threats and risks of digital transformation, both at the state level and at the level of individual companies. Based on the analysis, a conceptual model of the digital transformation of the global economy is proposed, which includes the prerequisites, goals, principles, digital technologies, benefits and risks (threats) of digital transformation at the level of state and corporate governance, and is aimed at understanding the mechanism of transition to a digital economy at the macro and micro levels, and is also capable of acting as a strategic planning tool in conditions of uncertainty. This model, unlike existing ones, is comprehensive, integrating the prerequisites, goals, principles, technologies, benefits, risks of digital transformation, providing a full cycle of analysis and digital transformation of the economy; adapted for the state (policy, regulation) and corporate (business model) levels with an emphasis on practical tools for digitalization and promoting sustainable development; takes into account threats and risks (cybersecurity, inequality), minimizing losses. It is concluded that managing digital transformation is a complex process that involves the use of modern tools, as well as comprehensive and coordinated approaches at both the state and corporate levels.