Baltic Journal of Economic Studies (Sep 2024)

THE ROLE OF DIGITAL TECHNOLOGIES IN ADDRESSING TODAY'S GLOBAL CHALLENGES

  • Andrii Krupa,
  • Vitalina Nikitenko,
  • Valentina Voronkova

DOI
https://doi.org/10.30525/2256-0742/2024-10-3-193-199
Journal volume & issue
Vol. 10, no. 3
pp. 193 – 199

Abstract

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The significance of the study is due to the crucial role that technology plays in solving many of the global problems faced by the modern world. The impact of technology in addressing these issues not only provides insight into current and future challenges, but also offers viable solutions to overcome them. Harnessing technology can create a more sustainable, just and prosperous world for all. The aim of the study is to conceptualise how digital technologies can be used to address the world's pressing global issues. The study focuses on international experience in tackling these global issues through the use of digital technologies by business leaders. Specifically, the research examines digital technologies as a powerful tool for addressing global challenges, while emphasising the need for careful and balanced implementation that takes into account environmental, social and economic factors. Study objectives include the following: (1) to study the role of digital technologies in solving modern global problems; (2) to identify ways to accelerate technological innovation in the field of environmental protection; and (3) to justify the responsibility of business leaders for environmental protection and solving modern global challenges. Digital technologies such as artificial intelligence, blockchain, the Internet of Things (IoT) and big data have become an integral part of modern society and have a significant impact on solving global problems such as combating climate change. Artificial intelligence, in particular, is crucial for predicting climate change, optimising the use of resources and improving the efficiency of energy production. The study highlights the experiences of leading countries that are using technology as a key element in addressing global challenges, offering innovative solutions to problems that once seemed insurmountable. The paper concludes that the potential of modern technologies is key to addressing today's global challenges, emphasising the need to integrate innovative solutions into national policies and development strategies. The study offers recommendations for further integration of digital technologies into various spheres of public life to effectively address these issues.

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