Digitalization of the economy as a driver of the development of intelligent business and e-commerce

Abstract

The relevance of this study is driven by the growing role of digitalization as a driver of economic development, the insufficient exploration of its complex impact on intellectual business and e-commerce, and the critical importance of these processes for Ukraine in the context of war and post-war recovery. The aim of the article is to analyze the impact of digitalization on the development of intellectual business and e-commerce in Ukraine, to identify the key factors influencing this impact, and to propose practical recommendations for stimulating these processes in the economy. The factors and prerequisites for the global digitalization of the economy have been disclosed, including technological progress, globalization, shifts in consumer behavior, deregulation and market liberalization, infrastructure development, and social factors. The essence of economic digitalization has been defined as the process of comprehensive integration of digital technologies into all spheres of economic activity without exception, covering production, entrepreneurship, services, the financial sector, trade, management, education, healthcare, and others. The content and interrelation of the concepts of «economic digitalization», «intellectual business» and «e-commerce» have been analyzed. It has been substantiated that digitalization provides a technological foundation for the development of intellectual business, which, in turn, serves as a powerful driver for the advancement of e-commerce. This is achieved through the application of digital tools to optimize online sales, marketing, customer service, and related processes. A systematization of the key factors through which digitalization impacts the development of intellectual business and e-commerce has been proposed. These factors include big data and analytics, cloud technologies, mobile technologies, the Internet of Things, artificial intelligence and machine learning, and blockchain. The dynamics of global sales volumes in e-commerce markets and Ukraine’s ranking in the world in terms of digital technology and intellectual capital development have been analyzed. A comparative analysis of the development trends in digitalization, intellectual business, and e-commerce in Ukraine and globally has been conducted. It has been established that Ukraine’s development trends in digitalization, intellectual business, and e-commerce generally align with global trends but are characterized by a certain lag, largely attributed to the consequences of the full-scale war initiated by the Russian Federation against Ukraine. The recommendations aimed at the further development of the digital economy, intellectual business, and e-commerce in Ukraine have been developed. Among the strategic priorities are the restoration and development of digital infrastructure, ensuring cybersecurity, supporting businesses, particularly intellectual businesses and e-commerce, promoting the development of digital skills among the population, and creating a favorable regulatory environment.