The Main Trends and Prospects of Digitalization of the Economy of Ukraine

Abstract

The article is aimed at studying and generalizing the main trends in the digital transformation of Ukraine’s economy and determining their impact on the activities of entrepreneurial entities for a more complete use of their potential. Over the past decade, there has been a radical transformation of society, a real information revolution, which is characterized by changes not only in the technical characteristics of goods, but also in the model of interaction between people. The main value is information that has a unique nature regarding its own multiplication and preservation. The active use and accumulation of information transforms humanity from industrial to informational one. It is determined that the purpose of digitalization of the Ukrainian economy is the digital transformation of existing sectors of the economy into new, more efficient and economically advantageous ones. The introduction of digitalization in most business processes and in the spheres of people’s life will become the basis for increasing the competitiveness of Ukrainian products and services, stimulate economic growth and contribute to improving the welfare of the population. This process should be grounded on basic principles. Therefore, the study summarizes the principles of digitalization, compliance with which is decisive for the creation and implementation of the benefits provided by digital technologies. According to the results of the carried out theoretical analysis, it is found that digitalization of economy has a contradictory impact on the development of economy and society as a whole. The advantages, negative consequences and risks of digital transformation for the development of the country’s economy are determined. Summarizing the experience of domestic and foreign scientists, the main trends in the digital transformation of economy have been identified.