Digital technologies: new forms and tools of business activity

Abstract

The digital transformation of business activity is characterized by diffusion of innovative technologies, integration of physical and digital systems. The unprecedented digital revolution has substantially transformed forms of business activity and has given auxiliary options for implementation of new business ideas laying the groundwork for investment climate. The new forms of business activity have different propagation dynamics and they generate in most cases quite different patterns of growth and evolution. The innovative tools and operating models of business activity have got a significant effect on geography and size of prospective market, competitive environment and speed of goods substitution. Changes in global economics in the last ten years have shown that technology companies are the leaders by rates of growth and market capitalization. At the same time, their digital products and developments are key factors in the dynamic development of traditional industries of their economics. The processes of forming and development of business (entrepreneurial) initiative under conditions of introduction of digital economics’ elements in different spheres of socioeconomic interaction have been covered in the article.