Digital Transformation and the Creation of an Innovative Economy in the European Union Cover Image

Transformacja cyfrowa i tworzenie innowacyjnej gospodarki Unii Europejskiej
Digital Transformation and the Creation of an Innovative Economy in the European Union

Author(s): Igor Britchenko
Subject(s): Economy, Law, Constitution, Jurisprudence, National Economy, Financial Markets, Public Finances, ICT Information and Communications Technologies
Published by: Wydawnictwo Uniwersytetu Jagiellońskiego
Keywords: digital transformation; digital economy; digitalization; double transition; information

Summary/Abstract: This article discusses digital transformation as a key factor in economic development, particularly in the context of the European Union, which faces complex geopolitical and economic challenges. The article considers the specific processes involved in shaping an innovative economy in the European Union during the digital transformation of the economic system, along with the crisis tendencies arising from external factors. It examines the strategies and initiatives that the European Union is undertaking to promote digital development and create an enabling environment for innovation. The article also highlights key factors characterizing the digital transformation process, such as digital infrastructure, the development of digital technologies, the stimulation of digital competencies, and support for digital startups. The article also explores the specific mechanisms for financing digital transformation in the EU economy and regulatory initiatives aimed at stimulating innovative entrepreneurship and the development of digital technologies in the context of contemporary crises. It demonstrates that this approach results in the formation of a competitive and sustainable European economy, capable of meeting modern demands and ensuring sustainable economic growth amidst uncertainty and change. Furthermore, the article addresses the impact of digital transformation on market conditions and the EU business ecosystem, including the business environment, job creation, and support for innovative ideas. It also discusses the opportunities and challenges posed by digital transformation in times of economic crises, particularly in relation to changes in the socio-economic landscape. Finally, strategic directions for digital transformation are identified to ensure the stability and growth of the European economy in unpredictable and unstable conditions.

  • Issue Year: 2024
  • Issue No: 10
  • Page Range: 311-332
  • Page Count: 22
  • Language: Polish
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