Digitalization in Ukraine’s economy in the context of world digitization

Abstract

The world has entered the era of the fourth industrial revolution – a period in which digitalization plays perhaps the most significant role for production, and innovative technologies such as virtual reality, internet of things, artificial intelligence and robotics are fundamentally changing the way people work and the way they live. The backbone of modern society is a rapidly growing network of electronic knowledge and tools that includes manufacturers, suppliers, sellers, buyers and users of information in electronic form. The information sphere of the state directs its economic and innovative potential, and thus significantly affects other spheres, such as competitiveness in the international arena and the quality of citizens’ life. Today Ukraine is at a unique stage of development when there is a chance to make the so-called “digital leap” in key spheres of the economy. That is, to quickly move to a new stage of development in these spheres, bypassing intermediate stages, and starting to use modern systems at once, bypassing several generations of technologies. The percent of the digital economy in Ukraine is gradually steadily increasing, but the pace of its development is still low. In order to keep up with the world's leading economies forever, it is necessary to begin large-scale digitization of all industries as soon as possible, investing as much as possible in the development of digital infrastructures, innovations and modern technologies. Moreover, the country has potential, especially in the IT sphere, where Ukraine's position is quite good. Technologically, Ukraine is still in the last century because the state has very low domestic demand for technology. The actual tasks for Ukraine in this sphere, on the one hand, are the implementation of its own digital potential, and on the other, the implementation of relevant EU documents and projects into national legislation. In addition, it is important to develop the spheres of science and education, without which it is impossible to count on progress in the development of the information society and the knowledge economy. Every year, technologies go forward, new trends are gaining momentum, affecting all the schemes by which people do business in the digital world. And in order to stay ahead of the competition or even just to “stay in the game”, you need to learn to work with new tools, track trends and be flexible enough to adapt to these changes.