Digital Economy: Problems and Prospects of Development in Ukraine

This paper aims to analyze the challenges and opportunities that are facing developing countries in the process of creating the digital economy. Digital economy is characterized by high added value, faced with numerous obstacles, many developing countries cannot adequately respond to the demands of the digital economy. The digital economy is also referred to as the Internet Economy, New Economy, or Web Economy. The largest players in the world market are digital economy companies – Apple, Google, Microsoft, Amazon and others, which are among the most expensive companies in the world in terms of market capitalization. The Fourth Industrial Revolution is rapidly driving transformational disruption across every sector. An estimated 70% of new value created in the economy over the next decade will be based on digitally enabled platforms. Digital technologies should be a driving force for innovations in the Ukrainian economic system. Digitalization of the economy and life spheres will create new jobs, make Ukrainian business more competitive and less resource oriented, attract new investors. Digital transformation is a daunting task. Countries that have reached the highest level of digital maturity have had to deal with complex cultural, organizational, and technical issues, and only counting of all these factors have made these transformations successful. The widespread use of digital technologies, extensive digital infrastructures are contributing to the economy digitization.