Suntsova O. O. (2024) DIGITAL TECHNOLOGIES FOR THE DEVELOPMENT OF INTERNATIONAL BUSINESS AND INTERNATIONAL MANAGEMENT. Transformational economy: theoretical and practical aspects : Collective monograph. 

Abstract

This investigation provides a comprehensive analysis of digital technologies driving the evolution of international business, examining both the widereaching impacts of digital transformation and the specific disruptive potential of blockchain technology. In the first section, Digital Transformation of the Global Economy: Challenges and Opportunities, the study discusses how digital innovations, such as artificial intelligence, big data, and cloud computing, are reshaping conventional business frameworks and introducing novel business models. It addresses the significant challenges that arise for international companies, including cybersecurity risks, adaptation to rapidly advancing technology, and heightened competition. However, these challenges are paralleled by opportunities for improved operational efficiency, expanded market reach, and enhanced customer experience, which are key to global competitiveness. The second section, Role of Blockchain Technology in Changing the Structure of an International Business, focuses on blockchain's unique ability to transform cross-border operations by enhancing transparency, security, and trust. This section details blockchain's applications across international supply chains, trade financing, and customer engagement, highlighting its role in reducing transaction costs, improving data traceability, and minimizing reliance on intermediaries. The article further analyzes how blockchain technology challenges existing structures, creating decentralized and autonomous networks that may redefine strategic relationships in international business. Overall, this study contributes to a nuanced understanding of digital transformation as both a catalyst and a challenge within the global economy, emphasizing the importance for businesses to adapt digital solutions to maintain resilience and competitiveness in a constantly changing international market. Through an in-depth exploration of the impact of digital and blockchain technologies, it offers valuable insights into the evolving landscape of international business and suggests strategic approaches for leveraging these advancements to achieve sustainable growth.

Keywords: INTERNATIONAL MANAGEMENT, INTERNATIONAL BUSINESS

JEL Classification: O22, Q01, F02