“Brave new world”: on strategies for developing digital economy

Abstract

The article analyzes conditions for implementing the digital economy strategy during the pandemic. The author considers the importance of networking platforms and digital databases for developing corporate businesses. The article provides statistics on lobbying business interests of digital corporations in the USA and the EU, the growth of digital corporations’ profits during the pandemic, and the number and distribution of researchers in the field of artificial intelligence. The article generalizes the importance of digitalization for all sectors of the economy and the social sphere. If we want to study digitalization strategies, it is necessary not only to form priorities and strategic goal-setting but also to provide resources for the selected priorities and directions of implementing digital technologies, as evidenced by the practice of public administration. The author notes that Big Data is of particular importance. The aggregation of these information datasets forms new lines of business and influences managerial decisions both in the corporate and private sectors of the economy and in the public administration system itself. The study demonstrates the process of monopolization of the digital services market. The largest corporations in digitalization and info-communication services are formed in the US and Chinese economies. These tendencies might have significant impact on public policy and the system of public service provision. The author concludes on the strategic importance of information and networking platforms in the modern digital economy and the strategic importance of startups and artificial intelligence.