“Smart” Region: Managing Economic Development on the Basis of Machine Vision and Ubiquitous Computing

Abstract

Purpose: The aim of the work is to substantiate the demand and develop a promising model of “smart” region, allowing state and corporate management of economic development based on machine vision and computation in the regions of the North Caucasus Federal District of the Russian Federation. Design/methodology/approach: To overcome the discrepancy between theory and practice and to ensure the integrity of the concept of “smart” region in their work the authors review the available statistical data on the level of development of the digital economy in the regions of the North Caucasus Federal District of the Russian Federation in 2018. Findings: The necessity and readiness (universal accessibility and active use of the Internet by business and population) of the regions of the North Caucasus Federal District of the Russian Federation in 2018 to implement the concept of “smart” region has been substantiated. The unique needs that determine the necessary specifics of the application of this concept in the regions under study—law enforcement, information, and technical support for corporate governance. Originality/value: A promising model of economic development management based on machine vision and ubiquitous computing in “smart” regions of the North Caucasus Federal District of the Russian Federation was developed. The benefits for the region’s residents are related to the improvement of living standards and quality of life, growth of social justice through more accurate and justified government support, as well as fuller satisfaction of social needs by businesses.