DIGITAL GLOBALIZATION IN THE ERA OF THE FOURTH INDUSTRIAL REVOLUTION: POTENTIAL FOR TRANSFORMATION

Abstract

The article considers the potential for transformation of the world economy under the influence of digital globalization in the era of the fourth industrial revolution. It is substantiated that within the framework of digital globalization the paradigm of organization of production, configuration and content of international trade are changing. At the same time, the process of digitalization leads to qualitative changes in all spheres of production, economic and trade activities around the world. Formation of production technological processes using the Internet of Things, modules of artificial intelligence and 3D-printing allows to reduce production costs and increase the competitiveness of products. Attention is focused on the essence of the changes taking place, the directions of the vectors of economic development in the context of the changing digital space. Particular attention is paid to the functioning of new business models (in particular, digital platforms), the transformation of the structure, configuration, forms and methods of international trade, as well as the impact of ongoing processes on international competitiveness. An important place is given to the problems of e-commerce, the content of the processes taking place in this segment of international economic relations. Some approaches to solving the problems of digitalization at the international and national levels are proposed. In the global dimension, it is important to ensure, through the adoption of binding legal documents for WTO member states on the freedom of information exchange, aimed at stimulating innovative development, promoting the removal of barriers in the e-commerce segment, encouraging investment in digital infrastructure and human capital. . The development of the country s digital potential and digital infrastructure involves the implementation of localization measures, ie requires the creation of national platforms for the accumulation and storage of information. It is concluded that the global process of digitalization creates the potential for dynamic development of new business models, stimulates productivity and increases competitiveness.