Evolutionary trends in the digital economy and their effects on business processes

Abstract

The development of the digital economy strongly linked with the development of informational technologies: blockchain, data analytics and artificial intelligence, etc. This technological development within business concerns both consumers and producers of services and goods. Manufacturing automation, market data analytics, improved equipment, etc. – all these features take place in modern business organizations. On the other side – social media, electronic devices, digital payment, etc. influences customers [1].

Various areas of business currently feel the impact of technological development. First, business closely monitors the impact of technology on the economic sector. Technology is a priority direction for business development. However, the implementation of technology poses many challenges for business. Because technology requires a structural changes. Such changes require, among other things, changes in business models, in social interaction between employees; it is not enough just to introduce any technological development. Business also need to understand what potential challenges or benefits a certain technology can bring. Such technologies as artificial intelligence, virtual and augmented reality, as well as robotics need particular attention.