Abstract: All facets of society’s economic life are now impacted by new digital technologies
and creative business models, which have an effect on the economy’s core and lead to qualitative
structural changes. A digital economy, which is characterized by the active use of technical
advancements and the distribution of distinctive electronic goods, thus arises as a subsystem of the
traditional economy. The competitiveness of the nation is closely correlated with the level of
development of the digital economy, so businesses and the government must pay particular
attention to this sector’s growth. Digitalization is being integrated into social processes; people’s
lives of achievement are becoming increasingly dependent on it; additionally, digital technology is
being widely implemented in the operation of government organizations and institutions. However,
there are both positive and negative aspects of technology advancements in the digital economy that
affect our daily lives.
The article discusses the essence of the digital economy, its determinants, and the results as
consequences.
Keywords: digital economy, innovations, technology, unemployment, ICT