Digital Transformation of the Industrial Sector: Challenges and Prospects

Abstract

Purpose: Digital technologies create a fundamentally different model of today’s reality. It is a model that enables fairly effective fundamental developments, allowing us to reach a high level of knowledge management in the area of science and technological progress. Design/Methodology/Approach: Innovations are based on digital technologies and business models as well as effectively used information and communication technologies. Findings: In the Russian Federation, state programmes helped to form a strong reserve for providing incentives to business for the introduction of various innovations in the economy and social area, which is certainly one of the main factors in the development of any country. Originality/Value: This topic is of high relevance because the widespread introduction of information and communication technologies and the digital transformation of the industrial sector is one of the most important factors of sustainable economic growth, food and economic security.