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Impact of COVID-19 on the Introduction of Digital Technologies by International Business
Shkodinа I. V., Serdyuk T. V.

Shkodinа, Iryna V., and Serdyuk, Tatyana V. (2020) “Impact of COVID-19 on the Introduction of Digital Technologies by International Business.” Business Inform 10:227–232.
https://doi.org/10.32983/2222-4459-2020-10-227-232

Section: Information Technologies in the Economy

UDC 336.719

Abstract:
The article is aimed at analyzing the peculiarities of the introduction of digital technologies by the international business in the conditions of COVID-19. Based on the analysis of the impact of COVID-19 on the introduction of digital technologies by the international business, the authors concluded that the crisis, on the one hand, slowed down the financing of some investment projects, but, on the other hand, it stimulated the implementation of projects related to the digitalization of international business (5G, start-up factories, the Internet of Things, robotics and blockchain). There was an increase in financing for projects related to remote work, virtual cooperation instruments, mobile devices, security programs. In the long term, COVID-19 will exacerbate the problem of digital gap between both countries and businesses and among the population. It is concluded that the Big Tech’s digital innovations increase the profitability of tech giants, and flows of cheap liquidity (as a means of countering COVID-19) lead to the formation of a new bubble in the market (P/E is close to 75). After the pandemic, traditional business will resume, but the digital gap will increase and remain a major economic and social problem. To solve these problems, it is imperative to improve the State-based regulation.

Keywords: international business, Industry 4.0, digital technologies, COVID-19.

Fig.: 3. Bibl.: 13.

Shkodinа Iryna V. – Doctor of Sciences (Economics), Professor, Professor, Department of International Business and Economic Theory, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Serdyuk Tatyana V. – Master, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

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Shkodina, I. V., Derid, I. O., and Zelenko, O. O. “Tsyfrova transformatsiia hlobalnoho bankivnytstva: problemy i perspektyvy“ [Digital Transformation of Global Banking: Challenges and Prospects]. Finansovo-kredytna diialnist: problemy teorii ta praktyky. 2019. http://fkd.org.ua/article/view/179680/180255 DOI: https://doi.org/10.18371/fcaptp.v3i30.179680
Jones, K. “The COVID-19 Impact on App Popularity“. Visual Capitalist. May 4, 2020. https://www.visualcapitalist.com/covid-19-impact-on-app-popularity/
“The World's Smart Manufacturing Industry“. Research and Markets. April 29, 2020. https://www.globenewswire.com/news-release/2020/04/29/2024044/0/en/The-World-s-Smart-Manufacturing-Industry-Post-COVID-19-the-Industry-is-Expected-to-Be-Worth-181-3-Billion-by-2020-and-220-4-Billion-by-2025.html
“What is the Smart Factory and its Impact on Manufacturing?“ January 24, 2017. https://www.manufacturingtomorrow.com/article/2017/01/what-is-the-smart-factory-and-its-impact-on-manufacturing/9043
Novet, J. “Zoom shares soar after revenue more than quadruples from last year“. September 1, 2020. https://www.cnbc.com/2020/08/31/zoom-zm-earnings-q2-2021.html

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