On the Way to the Digital Age - Problems and Prospects of Countries with Emerging Economies

Abstract

Digitalization of developing economies is crucial for improving their competitiveness, efficiency and environmental well-being. This study examines the BRICS countries (Brazil, Russia, India, China and South Africa) and how they adjust their economic and innovation plans to address the challenges and opportunities associated with digital transformation. Despite the existence of imbalances in socio-economic and digital development, the strategic priorities of digital transformation of each country are based on solving pressing socio-economic problems, ensuring the stability and security of citizens. The key priorities are the development of digital infrastructure, education and the formation of digital competencies, as well as international cooperation between the community of nations. The BRICS countries are aware of the importance of digital transformation and give it priority in their economic strategies. The development of digital infrastructure and the improvement of digital literacy are important steps towards improving competitiveness and efficiency, as well as improving the overall well-being of citizens. International cooperation is also crucial in this regard, as it can help countries share knowledge and resources to accelerate their digital development. Digital transformation is gaining momentum in Brazil, Russia, India, China and South Africa, but each country has developed at its own pace and with its own unique characteristics. Despite these differences, all five countries have made significant strides in achieving successful digital transformation. The gap between these countries is rapidly closing. The article suggests that traditional measures of digital competitiveness may not fully reflect the progress that developing countries are making in this area. As these countries continue to undergo structural transformations and diversify their economies, they can use digital technologies to step through certain stages of development and become more competitive at the global level. As a result, their digital competitiveness rating may improve over time. However, there are challenges that hinder the rapid achievement of the Sustainable Development Goals, such as the level of development of digital infrastructure, the degree of implementation of digital technologies in business and everyday life, the need for education and training for the digital economy. The article concludes that it is necessary to create stable conditions for digital transformation in order to create a solid foundation for sustainable development.