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Introduction. The digital economy has revolutionized the functioning of businesses, transforming traditional models into innovative ecosystems based on technology. This paper explores the profound role of the digital economy in shaping the modern business environment, with a focus on its implications for fostering innovation. The purpose of the paper is to examine how the digital economy influences the formation of an innovative business environment. By analyzing the key components of the digital economy and their interaction with business practice, the study examines the mechanisms through which digitization promotes innovation. Results. A comprehensive analysis revealed that the digital economy serves as an active driver of innovation in the business environment. Digital technologies enable companies to optimize processes, increase productivity, and leverage data-driven ideas, thereby fostering a culture of innovation. Moreover, the nature of interaction in the digital economy encourages collaboration and knowledge exchange, further stimulating innovation across various sectors. Conclusions. Overall, the digital economy is a complex environment that is constantly evolving and offers numerous opportunities and challenges. Companies that can adapt to changing requirements and harness the potential of digital technologies will be able to achieve progress and gain a competitive advantage. The conclusions drawn from this research highlight the importance of implementing digitization to stimulate innovation in modern businesses. Companies that effectively utilize digital technologies have better opportunities to adapt to the changing dynamics of the market, capitalize on new opportunities, and maintain a competitive edge. However, transitioning to the digital economy also presents challenges, such as cybersecurity risks and digital divides, which need to be addressed for the full realization of innovation potential. Future scientific inquiries could focus on studying specific aspects of the digital economy, such as the impact of artificial intelligence and blockchain technology on innovation. Comparative studies across different industries and regions could provide valuable insights into variations in the intensity of innovation driven by digital technologies.
Козуб et al. (Tue,) studied this question.