Innovative-technological transformations of the global economy: conclusion for Ukraine

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INNOVATIVE-TECHNOLOGICAL TRANSFORMATIONS OF THE GLOBAL ECONOMY: CONCLUSION FOR UKRAINE

Olijnyk Danyila,

Doctor of Economics, Professor, Senior Researcher

Konizhai Yurii

An example of the digital transformation of the world economy is the application of the innovative technological base, which in the conditions of the information society requires a fundamentally new understanding and new approaches to the digitization of the basic industries. The transformation of the global economy is seen as a powerful impetus to change in the domestic economy and at the same time a significant factor of uncertainty and incertitude, as the national and territorial boundaries of the movement of goods, capital and labor are erased, and the transformation of market structures is accelerated. This approach allows monitoring of existing practices and analysis of innovation and technological transformations of the world economy taking into account the integration vector of Ukraine's foreign policy into European political, economic and legal space. In this context, the implementation of processes is analyzed, which focuses on the sectoral initiative of the European Commission on the Single Digital Market for industrial digitization.

The authors proposed to focus on the creation of innovative technological platforms that facilitate the combining of enterprises with universities, research organizations, investors, regulatory bodies, as well as civil society institutions in the process of identifying priorities and strategies in a wide range of technological areas. This position is primarily due to the fact that the achievement of competitiveness at the national and regional levels requires the concentration of a considerable amount of scientific and technical potential and financial resources for the implementation of medium and long-term goals for the innovation and technological transformation of the economy and society.

It is proved that in order to realize large-scale global transformations in Ukraine, there is a need to create and create ecosystem of innovations -- technological innovation centers that claim to be the new leaders of the technology industry by extrapolating the modern, oriented on the growth of the model of EU innovation development into modern Ukrainian realities.

Such an approach requires, first of all, the concentration of a significant amount of scientific and technical potential and financial resources for the implementation of medium- and longterm goals of innovation and technological transformations of the economy and society.

It is concluded that the procedurally-oriented paradigm of providing innovation-technological transformation for Ukraine is the understanding and discussion of the issues regarding the importance of the digital transformation of the global economy, which are intended to promote the formation of new approaches to more efficient use of available resources and technologies for innovative transformations of domestic transport, health care education, industry and Internet of Things, energy, industry, agrarian sector, public safety, etc.

Some issues of developing new approaches to digital communication systems that unite elements of IT infrastructure are also highlighted, and the need for adaptation of domestic legislation to key international standards in the digital sphere is argued. It has been established that the importance of the telecommunication industry in Ukraine for innovation and technological transformation in Ukraine is to create an info communication basis for the transition to a digital economy in cooperation with other related industries and international organizations. economy technological industrie transformation

Keywords: global economy, innovation-technological transformations, digitization, digital infrastructure, digital transformation, digital platform.

ІННОВАЦІЙНО-ТЕХНОЛОГІЧНІ ТРАНСФОРМАЦІЇ ГЛОБАЛЬНОЇ ЕКОНОМІКИ: ВИСНОВКИ ДЛЯ УКРАЇНИ

Олійник Даниїла Іллівна,

доктор економічних наук, професор

Коніжай Юрій Романович

На прикладі цифрової трансформації світової економіки в статті розглянуто застосування інноваційної технологічної бази, яка в умовах інформаційного суспільства вимагає принципово нового розуміння та нових підходів до оцифрування базових галузей промисловості. Трансформація глобальної економіки розглядається як потужний імпульс змін у вітчизняній економіці й одночасно як вагомий фактор невизначеності та невпевненості, оскільки стираються національні та територіальні межі руху товарів, капіталів та робочої сили, прискорюється трансформація ринкових структур. Такий підхід дозволяє здійснювати моніторинг існуючих практик та аналіз інноваційно-технологічних перетворень світової економіки з урахуванням інтеграційного вектора зовнішньої політики України у європейський політичний, економічний і правовий простір. У цьому контексті проаналізовано реалізацію процесів, які зосереджуються на галузевій ініціативі Європейської Комісії щодо Єдиного цифрового ринку з оцифрування промисловості.

Авторами запропоновано орієнтуватись на створення інноваційних технологічних платформ, що сприяють поєднанню підприємств з університетами, науково-дослідними організаціями, інвесторами, регулюючими органами, а також інститутами громадянського суспільства у процесі визначення пріоритетів і стратегій у широкому діапазоні технологічних сфер. Така позиція зумовлена передусім тим, що досягнення конкурентоспроможності на національному та регіональному рівнях вимагає концентрації значного обсягу науково-технічного потенціалу та фінансових ресурсів для реалізації середньо- і довгострокових цілей для інноваційно-технологічної трансформації економіки та суспільства.

Доведено, що для реалізації масштабних глобальних перетворень в Україні є потреба у створенні та формуванні екосистеми інновацій -- технологічних інноваційних центрів, які претендують на роль нових лідерів технологічної індустрії шляхом екстраполяції сучасної, зорієнтованої на зростання, моделі інноваційного розвитку ЄС на сучасні українські реалії.

Цей підхід вимагає насамперед концентрації значної кількості науково-технічного потенціалу та фінансових ресурсів для реалізації середньо- та довгострокових цілей інноваційно-технологічних перетворень економіки та суспільства.

Зроблено висновок про те, що процедурно орієнтовною парадигмою забезпечення інноваційно-технологічної трансформації для України є розуміння та розгляд дискусійних питань щодо важливості цифрової трансформації глобальної економіки, які покликані сприяти формуванню нових підходів до ефективнішого використання наявних ресурсів та технологій для інноваційних перетворень вітчизняного транспорту, охорони здоров'я, освіти та промислового Інтернету речей, енергетики, промисловості, аграрного комплексу, громадської безпеки тощо.

Також висвітлені окремі питання формування нових підходів до цифрових комунікаційних систем, які об'єднують елементи ІТ-інфраструктури, та аргументовано потребу в адаптації вітчизняного законодавства до ключових міжнародних стандартів у цифровій сфері. Встановлено, що важливе значення у вітчизняній галузі електрозв'язку для інноваційно-технологічної трансформації в Україні має створення інфокомунікаційної основи переходу до цифрової економіки в кооперації як із іншими суміжними галузями, так і з міжнародними організаціями.

Ключові слова: глобальна економіка, інноваційно-технологічні перетворення, оцифрування, цифрова інфраструктура, цифрова трансформація, цифрова платформа.

Definition of the problem

The modern global economy, as the phenomenon of the Anglo-Saxon world economic model and the new socio-political system, has a socio-cultural, economic, geocultural origin and promotes the desire for integration into global economic structures based on the merging of interests, strategies and mechanisms of world domination of the most powerful states, global transnational corporations and international organizations. The world is becoming more integrated through the expansion of trade, investment, and communications and is in a state of dynamic innovation- technological transformation. Accelerating the development of globalization processes are conditioned by the development of information and communication technologies, which created the technical means to successfully overcome the factors of time and space. The transition of developed countries to the information society requires a clear strategy and flexible tactics in the scientific and technical sphere that would ensure the maximum correspondence of technological progress to the urgent social needs.

The current era of changes is caused by a whole cluster of technologies, some of which have an exceptional ability to horizontal diffusion in all sectors of the economy and society. Information technology creates a knowledge economy in which productivity increasingly depends on access to information on a planetary scale and the ability to use it effectively within the framework of transnational production networks based on the formation of a long chain of value-added. That is why the US, Japan, China have the highest rates not only in exports but also in the import of high-tech goods. In Ukraine, the indicator associated with the production of information and communication technology is only 4 %, which leads to a low level of exports. Actually, it is the deployment of global processes of technological innovation that enhances the problem of structural inadequacy of the Ukrainian economy.

The main reason of the Ukraine's lagging behind developed countries is the separation of the country from transnational production networks and the chosen benchmark of the state economic policy based on the traditional use of material factors of economic growth without strategic planning of domestic economic prospects based on the innovative economy.

It becomes clear that the centers for the adoption of important social decisions are increasingly shifting from national to supranational, state power is to some extent lost in the status of the highest form of political power. An integral part of globalization is the formation of regional associations, which requires Ukraine to take part in this stage of globalization. Becoming a member of the regional integration association in order to increase its competitiveness and ensure a decent life for the Ukrainian people in the conditions of the functioning of humanity as a single planetary organism. However, politically and economically, the situation in the country is rather complicated. More than ever, new ideas, open communication, flexible structures and plans for all groups and institutions have to analyze current and future issues. Perhaps the most important issue of economic policy is the extent to which the policy is focused on overcoming obstacles and the desire to be a leader in the next wave of digital evolution. In economic discussions held at major world economic forums such as the World Economic Forum in Davos, the discussion platforms within the OECP, the G20 and the G7, it is stated that those countries that will make the digital transformation of the economy benefit from more competitive industries and a more prosperous economy [1].

Digitization relates to transformations caused by massive adoption of digital technologies that generate, process and transmit information. Digital transformation is due to technological progress and the spread of innovation. Unlike the other innovations, digitization is based on the evolution of multiple technologies: telecommunication networks (mobile or fixed broadband), computer technologies (computers/laptops, wireless devices/tablets), software (operating systems, machine learning and artificial intelligence) and other technologies arising from their use (general platforms for application development, e-commerce, social networks, online information on forums, blogs, portals, etc.). However, the gradual adoption of these technologies has led to a massive technological breakthrough that results in local, regional and global side-effects between the total technology production in all countries and the contribution of any single nation, meaning that no country will be strong enough in the future to depend solely on their own intellectual and physical resources in the competition.

Unfortunately, until now Ukraine has not created effective mechanisms that could ensure the development of the country against the backdrop of serious challenges of a global nature. As a result of the inverse type of market transformation combined with globalization processes, on the basis of market mechanisms, Ukraine has adapted to certain segments of the world market as a raw material appendage and did not form its domestic market. However, according to Umberto Colombo, “technological revolution” leads to “dematerialization” of the society, one of the elements of which is that now less raw materials are needed to achieve a certain level of economic production and income generation. Therefore, Ukraine still has the opportunity to innovate and digitize transformation and apply digital technologies and transform its raw materials and energy into value-added products, thereby accelerating economic development without negative consequences.

Analysis of recent research and publications

Among the research problems of the innovation- technological transformations of the global economy, one should mention the works of such foreign scholars as M. Castells [2], G. Martin [3], D. Held [4], J. Stiglitz [5], S. Huntington [6] and Ukrainian scholars V. Geyets [7], S. Radziievska [8], B. Sidenko [9], O. Sidorenko [10], A. Filippenko [11] and others.

According to Sidenko, Ukraine is included in the present era of radical global transformations with a significantly distorted economic model that is closer to the structural characteristics of less developed countries and is included in international production and exchange on the basis of an asymmetric model that determines the peripheral state of the national economy. Some aspects of innovational and technological transformations of the globalized economy and their impact on economic processes in Ukraine in their works were covered by such domestic scientists as A. Gritsenko, P. Yeshchenko, T. Kovalchuk, B. Gubsky and others.

At the same time, there is practically no scientific research directly devoted to the processes of innovation-technological transformation of the global economy, which is based on digital transformation. Sufficiently, many factors and conditions encourage the continuation of a thorough analysis of this topic.

Problems to be solved. According to one of the executive directors of the International Economic Forum on the scenarios of Ukraine's development, “the country should begin to look strategically for its economic development” [12]. Actually, it is strategic thinking, including processes and an integrated approach that is a platform for Ukraine's participation in the innovation-technological transformation of the global economy. Today, under the influence of the fourth technological revolution, there are profound transformations of all spheres of society. Due to the transition to a digital, hyper-competitive stage of development. At the same time, the global innovation hypercompetitive struggle becomes the dominant dynamic of not only the economy but also culture, politics, science, education, medicine, and art.

A traditional high-tech digital business comes to the place of traditional business and incorporates qualitatively new business practices. It enables them to provide competitive advantages by increasing investment, reducing costs, expanding the scope and identifying new channels. sales, attracting new customers and improving customer service, more mobility, and efficiency when making managerial decisions. The introduction of these technologies has now led to a massive technological breakthrough that encompasses the economy and leads to side effects within local, regional and global development and requires decisive action. According to the McKinsey Global Institute, the digital index of the digital indices, global flows link the global economy, but there are still significant differences. For example, currently only 4 % of digital potential is involved in Ukraine, while in the United Kingdom and the United States -- 17 %, in Germany -- 10 %.

The purpose of the article is to review and analyze the innovation and technological transformation of the global economy, which addresses the challenges of disclosing the direction and significance of digitization and the digital transformation of the Ukrainian economy in the context of joining the single European space.

Presenting main material

The world is now undergoing complex, tectonic transformations of a large scale in which the new technological approach emerges. The essence of such transformations is to create an entirely new digital reality as a means of modeling and creating a new business with the use of new digital technologies. Economies, governments and societies all over the world are digitized. Today, the world is at the critical point of digital transformation, as technologies continue to evolve rapidly and combine into new and innovative ways that promote digital transformation in new and often unpredictable directions. According to the Ministry of the Economy, Trade and Industry of Japan, as a result of no gradual digital transformation, the country may suffer economic losses of up to 12 trillion yen per year after 2025, which is three times the current loss of the state [13].

The rapid digitization of the sectors of the economy, global differences in demographic trends, climate change and globalization processes, new technologies such as the Internet of Things, artificial intelligence, intellectual mobility, smart cities, additive production and trade openness make a drastic change in the nature of world production, contribute to integration into the global economy and send risks. In the global and European perspective, the use of digital technologies is a strategic priority. It is forecasted that digital technologies will increase the growth of trade by 34 % by 2030 [14].

The fractal principle underlying the virtual reality of digital transformation sets the repetition with feedback, in which the result of one iteration becomes the initial value for the next cycle. Digital transformation improves the access of business entities to global markets at relatively low cost, opening up new opportunities. As all sectors of the economy become digital, it is important to ensure cross-border and cross-sectoral risk management and to promote trust in the exchange of information on threats, vulnerabilities, and incidents, including for small and medium-sized businesses.

The intellectual digital transformation of domestic industry is closely linked to the development of the digital economy and the penetration of digital technologies into socio-economic life. Public sectors such as e-government, e-health, e-education, and smart cities and communities are the natural area of digital economy products and services. For example, only in 2018, revenues from services around the world crossed the mark of 1 trillion dollars. The USA, reflecting positive growth trends [15].

The possession of digital assets is closely linked to the digital sovereignty of the state. The large data generated as a result of the modernization of the economy, become one of the leading digital assets of the state, business, and civil society. Obviously, such a new matrix of the future development of humanity requires a radical transformation of the world order, institutional and organizational changes, which at this stage of development is interpreted as a megatrend: “Digital transformation”. The essence of such digital transformations is to create an entirely new digital reality that grows at an unprecedented pace. Within this reality, digitized elements differ from elements of the physical world and identify objects in the form of zeros and units (numbers). Digital interaction within the system on the basis of innovative technologies acquires a new dimension, such as “Smart Cities”, “Intellectual Mobility”, “Internet of Things”, etc. That is a sufficient reason for determining the importance and need for a common understanding of these processes and the development of common approaches to assessment of possible risks on a global scale.

The fundamental feature of Internet-oriented technologies is their marked shift in the sphere of production. Formed industrial Internet of Things. The forthcoming fourth industrial revolution will require the provision of a huge amount of information and an integrated communications system capable of delivering huge amounts of data and processing and covering communications services in 100 % of the country.

Among the trends that determine the new horizons of the development of digital infrastructure -- a radical increase in the bandwidth of networks and communication channels, increase the degree of intellectualization of communication systems, provision of data services of the consumer segment and public administration, the provision of mobile access to communication services and information. Such tendencies of innovation and technological transformation of the global economy require the urgent introduction in Ukraine of such promising cluster information and communication technologies as broadband wireless access, optical technologies, Internet of Things, SDN, and NFV technologies. In particular, wireless networks such as Wireless HART, ISA100, and WIA-PA are based on the IPv6 protocol, which provides the benefits of expanded address space and enhanced cybersecurity. Problems of massive connection of IoT devices to global networks, which include mobile cellular networks, require technologies NB-IoT and LPWAN.

The introduction of a single conceptual apparatus for digital transformation and the development of a new generation digital market in the long-term perspective becomes supercritical for Ukraine not only in the context of the socio-economic well-being of the state but also as a condition for the preservation of sovereignty in the global technological context. Eliminating this type of imbalance requires an understanding of the new model and structural investment policy aimed at balancing sectoral, technological and spatial disproportions that complicate the interaction between sectors of the economy and are not eliminated through market mechanisms.

The fourth industrial revolution encourages enterprises to develop new markets for innovative digital products, services and systems, blurring the traditional boundaries between physical, digital and biological worlds. Analysts of the OECD predict that the next revolution will come from the merger of a variety of digital technologies (3D printing, Internet stuff, robotics), new materials (bio or nanotechnology, etc.) to new processes (data management, artificial intelligence, synthetic biology). The technologies used to implement innovative projects are, above all, Building Information Modeling technologies for creating digital assets of business entities, their virtual prototypes. For example, today Tech Machindra (India), a leading provider of digital transformation, is introducing innovative developments in the world of the next-generation Software Defined Network of the world-class [16], considered as virtualized configuration of mobile access networks in the virtual central the Virtual Central Office of the Mobile Services for Telecommunication Operators and Cloud Services Providers.

Therefore, before the domestic branch of telecommunication, there are now large-scale tasks for the creation of an info-communication basis for the transition to a digital economy and the information society, both independently and in cooperation with other related industries, as well as international organizations. The proposed harmonization and deployment of open source networks by the European Telecommunications Standards Institute (ETSI) is the next stage in the evolution of the rethinking of the role of network infrastructure and network functionalities (Network Functions Virtualization, NFV) to avoid network vulnerabilities.

As these digital technologies transform production, they will have far-reaching consequences for productivity, employment, skills, income distribution, trade, welfare, and the environment [17]. The development of such new generations of digital technologies is defined as the basis for building a competitive national economy for the coming decades and leads to the arrival of the so-called “mathematical capitalism”, that is, an economy in which mathematics forms the sources of national wealth on the basis of large data [18].

Creating large volumes of value in tangible and intangible assets and private, mixed, and state-owned enterprises should be an instrument for the flow of capital into newly created industries and sub-sectors. It should go for the modernization, transforming from savings into accumulation, and then into investment to maintain the next, new play cycle. To this end, the European Commission has adopted new rules for investing in insurance companies and ensuring long-term financing of capital [19], which are supported by the European Fund for Strategic Investments (EFSI) and the European Program for Employment and Social Innovation (EaSI). Such processes of globalization of the world insurance market include hedging technical and operational risks and redundancy of international capital. It should be noted that institutional investors now have private savings of over $ 80 trillion in asset management and are interested in channeling these funds into the development of digital infrastructure [20]. For example, capital market development projects for the period from 2019 to 2023 are approved by the Government of the Czech Republic [21]. Where the support of the development of the domestic capital market is through the introduction of long-term investment accounts that compare tax rules for pension subsidies and further financing through the capital market, improving investment in start-ups and expanding pension fund subsidies. In Ukraine, only the first steps were taken in this direction, in particular, a memorandum was signed between the Ministry of Economic Development and Trade of Ukraine and the National Securities and Stock Market Commission on joint efforts to build in Ukraine a modern model of organized trade in commodity assets that would meet the best international standards.

The formation of an economic base that quantitatively determines the impact of digitization on industry and society and leads to transformational changes in ecosystems is planned based on the business model of the B2B digital platform. Such platforms aim to provide a single point of entry to a wide range of competencies, technologies and services for solving industrial problems and is a reliable partner for solving complex tasks that require a knowledge-based approach.

According to the European Research Area Board, technological platforms are among the most important initiatives aimed at strengthening the innovative potential of Europe and ensuring the efficiency of investment in research. According to KPMG International [22] research worldwide, the implementation of large-scale global transformations, among which plays an important role in the formation of the ecosystem of innovation -- technological innovation centers, claiming the role of new leaders in the technology industry.

One of the successful mechanisms for implementing the modern EU-oriented growth model for innovation was the creation of European technology platforms, which are sectoral thematic forums that promote the pooling of enterprises with universities, research organizations, investors, regulators and civil society institutions in the definition process priorities and strategies in a wide range of technological areas in which the achievement of competitiveness at the national and regional level the levels of concentration requires a significant amount of scientific and technical capacity and financial resources for the implementation of medium and long-term goals innovation.

Conclusions

Digitalization now forms new markets that will be transformed in the process of creating new innovative structures. Ukraine should outline its potential in order to take advantage of the opportunities of the global economy, and adapt legislation to key international standards in the digital sphere, and develop a program of measures for innovation and technological transformation in order to facilitate the digitization of the basic sectors of the economy. Managing such a complex adaptive system on the path to sustainable development requires the introduction of state policy for managing and coordinating interaction in innovation networks, adapting to new knowledge through inherent uncertainty, generating positive feedback effects that can cause phase transitions. Innovation and technology transformations should be seen as a special form of economic activity based on horizontal links and the global electronic (digital) environment to support the fundamental transformation of world systems of production and consumption, which is nothing more than a phase innovation technological transition in the conditions globalization.

Transformation of the global economy is a powerful impetus to changes in the economic sphere of society and at the same time a significant factor of uncertainty and uncertainty, as the national and territorial boundaries of the movement of goods, capital and labor are erased, the transformation of market structures both within the classical forms and the appearance of horizontal network structures of the same type is accelerated firms competing in geographic boundaries. Thus, the management of transients at the points of bifurcation of innovation-technological transformation must be accompanied by concrete actions, determined by the creation of intellectual networks and the dependence on information and communication technologies.

Recommendations. According to the Organization for Economic Cooperation and Development, the effects of the technological revolution will contribute to the growth of the economy through increased productivity and stimulation of innovation, as well as the development of new forms of competition. According to the Australian government's report, this impact by 2030 is estimated at an additional 1.3--2 thousand Australian dollars per capita GDP, due to the growth of multifactor productivity. So, only 5G technology can provide up to 20 Gbit/s download speed (200 times faster than 4G networks) and shorten the data transmission delay by 1 ms (10 times less) and accelerate growth by introducing new applications and services. In addition, new communication standards will enhance the use of the Internet of Things, including for applications requiring special control and minimal data delay (remote surgery using robots, autonomous transport, industrial robotics), as well as the emergence of new forms of competition.

Understanding the importance of the digital transformation of the global economy for Ukraine is intended to foster the development of new approaches to digital communication systems that unite elements of the IT infrastructure, which in turn will allow more efficient use of available resources and technologies for the innovative technological transformation of domestic transport, health care Education, Industrial Internet, Energy, Industry, Agrarian Sector, Public Security, etc.

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20. Kelly, Jemima. (2017). Global assets under management hit all-time high above $ 80 trillion. (n. d.).

21. Pravitelstvo Cheshskoi Respubliki utverdilo proekt po podderzhke rynka kapitala [The Government of the Czech Republic has approved a capital market support project]. (n. d.).

22. Peremeny v sektore revoliutsionnykh tekhnologii. Tsentry tekhnologicheskikh innovaczii ishchut novyie vozmozhnosti dlia operezheniia konkurentov [Changes in the revolutionary technology sector. Technology Innovation Centers are looking for new opportunities to stay ahead of the competition]. (n. d.).

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