Digital transformation management: Scientific approaches and economic policy

Abstract

The article explores the problems and trends in digital transformation of the world economy in the context of revolutionary changes in the technological sphere, unstable state of a number of national economies and international trade. The theoretical and methodological basis of the study includes the traditional ideas about technological advances and their impact on global reproduction, as well as the conceptual framework of digital economy. The authors follow the research methods, such as comparative analysis, synthesis, historical and logical methods. The research identifies the evaluation parameters of digital transformation, including the assessment of broadband internet access, the potential of reducing the cost price of digital devices and the marginal cost of traditional industries, and the assessment of the convergence and the speed of technology diffusion. The authors find that the key characteristics of new economic policy are flexibility and detailed specification to fine-tune the combination of tools depending on the object of management. Having analyzed the avenues for digital transformation, we establish the areas of high uncertainty – job market, data control, security, the environment, etc. – that act as potential sources of shocks. Our findings also prove the necessity to create conditions for the growth of technology-centric companies.

Keywords

• keywords: digitalization
• digital transformation
• digital economy
• economic policy