Determinants of innovative development in the context of the digital economy and financial sector transformation
DOI:
https://doi.org/10.33216/1998-7927-2023-280-4-11-18Keywords:
digitization, globalization changes, digital economy, digital technologies, lobalization, financial instruments, high-tech market, innovative developmentAbstract
The presented work states that innovative development in the context of the digital economy and the transformation of the financial sector depends on numerous determinants that create conditions for the creation and implementation of innovative technologies and approaches. Thanks to the development of communications and communication technologies - cellular, satellite, broadband and wireless technologies , the process of digitalization of society began. If the global Internet network opened the way for the exchange of information, then modern technologies embodied in the spread of personal means of communication - smartphones and personal computers - have changed the very process of obtaining, exchanging and using information. The impact of digitization and informatization of society on economic growth occurred with the simultaneous transformation of approaches to data processing, their accumulation, and changes in the paradigm of trade and economic relations. To build a sustainable digital economy and achieve economic growth, it is necessary to identify and analyze digitalization trends in various spheres of life and identify potential opportunities for further development. The purpose of the article is to analyze the stages of development of globalization processes and the impact of digitalization on them, to determine the main consequences of the introduction of digital technologies in the economy, production and other areas, as well as to analyze trends and prospects for the further development of the domestic economy and business in the context of the implementation of the principles of the digital economy and their advantages . The author analyzes the trends in the development of globalization processes in the world economy and how digital transformation affects international development. The article presents the main stages of global transformations caused by digitalization, as well as the impact of digital transformation on the economy. The benefits of implementing the principles of the digital economy and the risks caused by the change in the economic paradigm in the context of digitalization of all spheres of our life are considered. These determinants interact and influence innovative development in the digital financial sector. Taking these factors into account allows you to create effective strategies for successful transformation and implementation of digital innovations in the financial sphere.
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