Digital Transformation of Small and Medium Businesses

Abstract

This chapter examines the essence and importance of digital transformation in developing small and medium-sized businesses. It is noted that digitalization uses computer technology to reshape business so that all decisions are made based on data. The main objectives of the digital transformation of SMEs are shown. The technologies accelerating digital transformation include the internet of things, artificial intelligence, e-commerce, big data, cloud technology, blockchain, etc. The tasks of managing an organization in the context of digitalization include changing the company's business processes based on advanced digital technologies, maintaining a high level of knowledge of company management and specialists in the field of modern technologies, maintaining a high degree of preparedness for changes and challenges of the external environment. The authors consider the digital transformation of SMEs in the industrial, agricultural, and commercial spheres, as well as e-commerce.