Impact of digital technologies on the business information environment in the context of the fifth industrial revolution

Abstract

Introduction. The rapid development of information technologies radically affects the information environment of business. The fourth industrial revolution is replaced by the fifth, which forms organizational structures based on the principles of digitization and robotization and puts cloud technologies, blockchain, artificial intelligence, and the Internet of Things as the basis of economic activity, radically changing the work of accountants as creators of the information environment at various management levels. Progressive technologies make it possible to automate decision-making and create multiple alternative options, taking into account a huge number of influencing factors, and to model the development of situations in conditions of significant uncertainty. Such decisions will make it possible to achieve information transparency and economic security of business, make optimal management decisions, and forecast the development of economic systems.Goal. The purpose of the research is to study the impact of technology on the information environment of business and to understand how information technology will change the work of accountants. Simulate the information environment of business at different levels of management, subject to the introduction of the latest information technologies and principles of digitization. To prove the necessity of changing the accounting methodology in the conditions of the fifth industrial revolution and changing the basic principles of accounting theory.Research methods. To achieve the goal of the research, bibliographic, monographic, and comparative analysis of the theory of information systems, accounting theory, and theories of social development was used. The system of dialectical, cybernetic, and synergistic analysis methods made it possible to assess the impact of digitization and the development of digital technologies on the accounting system as an information creation system. The methods of theoretical construction, scientific abstraction, thought experiment, and modeling were used in assessing the impact of the latest information technologies on the accounting system of economic entities at different levels of management and forecasting prospects for the development of accounting science and practice.Results. The influence of technologies on the information environment of business in the conditions of Industry 5.0 and the changes in accounting science and practice due to such influence are studied. An attempt was made to simulate the information environment of business at different levels of management, subject to the introduction of the latest information technologies and principles of digitization. The necessity of changing the accounting methodology in the conditions of the fifth industrial revolution and changing the basic principles of the accounting theory is proved. A forecast was made regarding the impact on the accounting methodology and methodology of such digital solutions as cloud technologies, Big Data, artificial intelligence, Blockchain, and the Internet of Things.Prospects. It is advisable to direct further scientific investigations to the forecast of the development of accounting science and practice, taking into account the significant impact of digitalization of society, as well as the expansion of accounting methodology and the acquisition of digital skills by accounting employees.

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