Digital economy as a driver of business development

Abstract

This article examines the impact of the digital economy and digital transformation on business development of the enterprises. Given the active implementation of information and communication technologies, social networks, virtual reality, artificial intelligence, and rapid economic development, companies can not stay out of progress, and are forced to change business practices, implement digitalization, automate processes. The aim of the article is to study the benefits and directions of the impact of digital technologies on business structures. To achieve this goal, a review of the scientific literature and reports of international companies that studied the impact of IT technologies on enterprises was conducted. It is established that the concepts of digital economy and digital transformation do not have a well-established definition at this time. The business goals that the company plans to achieve in the process of digitalization are systematized. The article identifies the areas of focus in digital transformation. The article systemizes the goals of digital transformation, which are carried out in the direction of changing the strategy, the transformation of business processes, the introduction of intelligent systems and cloud technologies, the transfer of employees to remote working conditions. It is determined that despite the advantages, information technologies as components of digital transformation require significant investment costs. CZU: 334.72:004.7; JEL: O33; O47; L86.