ECONOMETRIC AND DIGITAL BUSINESS TRANSFORMATION IN INDUSTRY 4.0 AND 5.0 CONCEPTS

Abstract

Introduction. The application of Industry 4.0 and 5.0 in the context of the formation of the smart economy and digital transformation of business and their long-term development is a very important task today. The practice of estimating the economic result of the introduction of digital business technologies by the method of net present value, which is the difference between income and expenses from the investment project in the digitalized economic system, still prevails in economic science to finance the long-term development of digital business transformation in the smart economy. to their value to date. The main reason why it is difficult to innovate the smart economy and carry out the digital transformation of the business in accordance with the elements of using the concepts of Industry 4.0 and 5.0 is the application of high discount rates. This approach to financing the digital transformation of business while focusing on the smart economy does not allow to solve many economic problems, including problems of increasing income inequality, the state of the environment, and so on. In many countries around the world, the situation is becoming so alarming that financiers and economists and experts in various fields of knowledge are already actively studying. Instead, the world community is ambivalent about these issues, which is why the study and empirical measurement of the smart economy and digital business transformation in the world, as well as prospects for digital business technologies and systems with the introduction of Industry 4.0 and Industry 5.0 is extremely relevant.

Purpose. Given the relevance of the research, the purpose of this article is a theoretical and empirical study of the state of digital business transformation and the use of digital business technologies in the smart economy in the concepts of industry 4.0 and 5.0.

In this context, we can highlight the main objectives of the article, which are: to analyze the possibility of digital transformation of business in the smart economy in the concept of Industry 4.0 and 5.0. types, to forecast the development of the smart economy in the concept of Industry 4.0 and 5.0 and to establish correlations between the digital transformation of business and economic growth in the transition to Industry 4.0 and opportunities for the transition to Industry 5.0.

Methods Macroeconomic Analyses, Economentric Analyses, Trend Analyses

Results. The options for using the digital transformation of business in the smart economy - discrete-funded efforts that support a specific program goal - that will cost the most will be divided between three strategic priorities. Investment in robotics will grow to $ 120.6 billion in 2025, followed by stand-alone operations and 360-degree customer management at $ 90.9 and $ 74.7 billion, respectively.

Conclusion. The study of the state of the smart economy and digital business transformation according to the concepts of Industry 4.0 and 5.0 indicates a significant potential for the use of digital technologies in business and a significant economic effect from their use, which requires further development.

Keywords: smart economy, digital economy, financial technology, digital business management technology, information economy, business process digitalization, digital business transformation, industry 4.0, industry 5.0, blockchain technology, internet of things, big data, mixed, augmented, virtual reality, cloud computing, artificial intelligence, smart factory, digital duplicate, machine learning.

fig .: 4; tab .: 2; bibl .: 12.