Formation of Ukraine's Smart Economy in the Context of Global Challenges

Abstract

The formation of market mechanisms and the transition of a business from resource-based to market-oriented thinking led to the need for a profound rethinking of management and analytical technologies of diagnosing the efficiency of functioning and development of economic entities. The issues of social and environmental responsibility are the most relevant today in terms of meeting not only the goals of one socio-economic level but also from the perspective of the goals of the higher level of development. The purpose of the article is to study the scientific literature on the smart economy and determine the key elements affecting the formation of a smart economy and the development of Ukraine in the context of global threats. Based on historical and logical methods the analysis of scientific developments, which methodologically and conceptually influenced the formation of the concept of the creative economy. With the help of methods of analysis and synthesis, the components of the creative economy have been described and the world tendencies of the creative sector have been defined. The results of the analysis allowed to offer as key elements that are prerequisites for the formation of a smart economy in Ukraine, namely: intellectualization, informatization, innovation, investment, integration, social responsibility, and ecological transformation. The conclusion notes that the formation of a smart economy of Ukraine is influenced by global processes in the world. And it is these features emphasize the need to increase attention to the transformation of management processes on the intensive use of intelligent technologies for effective decision-making, contributing to the growth of public welfare, improving innovation and competitive positions, and the formation of the smart economy of Ukraine