INSTITUTIONAL FACTORS OF THE DIGITAL TRANSFORMATION OF THE ECONOMY
Abstract
The digital transformation of the economy is a multifaceted process that encompasses the introduction of the latest technologies and changes in business processes in various sectors. It includes not only the use of artificial intelligence and cloud computing, but also fundamental changes in work organization and strategic planning. Institutional factors – norms, laws and rules – shape the economic environment and influence the behavior of market participants, playing an important role in this process. The purpose of the article is to study the role of institutional factors in restructuring the organization's interaction with customers in the context of digital transformation. Methods used in the study: theoretical generalization and grouping, formalization, analysis and synthesis, logical generalization of results. The main institutional factors are the regulatory framework that ensures consumer protection and data security, government economic policy that stimulates investment in digitalization, educational systems that prepare specialists for the new reality, and social culture that determines the perception of technological change. These factors create the preconditions for successful business adaptation to digital transformation. Digital transformation is also fundamentally changing business models, allowing companies to adopt more flexible and adaptive approaches. The use of big data to analyze consumer behavior helps to predict market trends and develop personalized offers, which contributes to increased customer satisfaction. In addition, the automation of business processes and the use of digital management tools increase efficiency and speed up decision-making. At the same time, new approaches to management, such as the transition to flat organizational structures, increase employee engagement and create a dynamic work environment. Digital technologies are fundamentally changing the way we interact with our customers, opening up new communication channels and personalization opportunities that improve customer experience and strengthen the brand. Digital transformation is a complex and comprehensive process in which the interaction of technological innovations and institutional factors plays a crucial role in ensuring the competitiveness and sustainability of companies in the current environment.
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