The role of digital tools in the formation of global networks of interaction between smart economies

Tsymbal Liudmyla
Prof. Dr., Prof. Dr., prof. of department of international economy, Kyiv National Economic University Named After Vadym Hetman, Kyiv, Ukraine, E-mail: l.tsimbal@ukr.net, ORCID: https://orcid.org/0000-0002-0873-9227

Natsvlishvili Tymur
PhD student of department of international economy, Kyiv National Economic University Named After Vadym Hetman, Kyiv, Ukraine, E-mail: timurazor@gmail.com, ORCID: https://orcid.org/0000-0003-1686-8296

Received: 10.06.2025    Аpproved: 24.06.2025    Рublished online: 25.07.2025

Cite this article:

Tsymbal L., Natsvlishvili T. (2025) The role of digital tools in the formation of global networks of interaction between smart economies. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Rol cyfrovyh instrumentiv u formuvanni globalnyh merezh vzajemodii smart-ekonomik.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 6 (331), pp. 111-117.

Abstract

In today's digital transformation of the global economy, there is an active introduction of digital tools that significantly change the principles of market functioning, the nature of economic interaction and development models of individual countries and regions. Their impact on the formation of global networks of interaction in the context of the development of smart economies - economic systems based on knowledge, innovation, high-tech solutions and sustainable development - is particularly important. Digital tools and technologies are important drivers of the modern transformation of economic and social structures. The article considers the role of such tools as the Internet of Things (IoT), cloud technologies, artificial intelligence (AI), big data analytics (Big Data), as well as global payment platforms in the formation of global networks of smart economy interaction. It was studied how these tools contribute to increasing the efficiency of economic processes, optimizing resources, improving the quality of life and creating new opportunities for business. They facilitate the integration of businesses, research centres, governments and citizens into single digital ecosystems that transcend national borders. This creates intelligent supply chains, develops digital clusters, and forms new partnership models. The article examines the role of digital tools as catalysts for change in global economic relations. Particular attention is paid to the analysis of the benefits and challenges that accompany digital interaction: cybersecurity, digital inequality, and ethical aspects of data use. The author also outlines the prospects for using digital innovations in building sustainable and adaptive global economic networks. It is determined that digital tools are becoming not only a means of increasing efficiency, but also a key factor in the competitiveness of smart economies in the 21st century. Particular attention is paid to challenges related to data security, cyber security, regulation and ensuring sustainable development in the context of globalization. The article also discusses the social and economic implications of digitization, including the impact on the labor market and social structures.

Keywords

digital tools, smart economy, Internet of Things (IoT), cloud technologies, artificial intelligence (AI), machine learning algorithms, automation of business processes, digitization.

JEL classification: F020; O330; F630; L860;DOI: https://doi.org/10.32680/2409-9260-2025-6-331-111-117

UD classification: 330.35:004.738.5:339.9

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