Digital Globalization As A Result Of The Modern Economic And Technological Development

Abstract

It's obvious in modern conditions that the process of globalization has already got a digital character. For this reason it can be called digital globalization. Digital globalization is a new step of the global world development. It entails radical changes in the structure of making business and the number of its permanent participants. It leads to the growth of economic opportunities, including trans-border relations and communications. Digital transformations are based on the growing consumer and investor expectations. They also reflect the prospect of increasing economic and social benefits. Digital globalization depends on both digital economy and digital technology development. Technological prerequisites for the digital globalization are the achievements of the fourth industrial revolution, such as robotics and the Internet of things, cloud and cognitive technologies, virtual and augmented realities, nano-and biotechnology, etc. Digital globalization is closely connected to a number of economic innovations. Today financial flows, traditional ways of trading and changing goods are reduced much at the global level due to the COVID-19 pandemic. On the contrast, the global economic relations of the digital format are significantly expanding. This becomes possible because of the artificial intelligence technology development, the global data and information flows attraction, the digital platforms and e-commerce successful using.