SOCIAL AND ECONOMIC DEVELOPMENT MODELS IN THE Digital transformation era

Abstract

The article analyses development regularities of human system and investigates possible social and economic development models in the era of digital transformation. The article demonstrates that there are three models that can be applied in the conditions of Industry 4.0 technological revolution with its rapidly emerging digital devices and technology breakthroughs of the 21st century. These models are shaped in accordance with their development purposes, which can establish different relations between state, society, business, and specific individuals. The authors convincingly show that there is only one model capable of providing sustainable development and creating a new model for economic development, which corresponds to digital technologies of the 21st century.

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