Modeling the financial space of the digital transformation of the economy in the context of Industry 5.0

Abstract

Importance: the article considers the problem of modeling the financial space of the digital transformation of the economic activity of an industrial enterprise. The study assessed the impact of “smart money” on the economic activity of an industrial enterprise in the context of the transition to Industry 5.0. Purpose: to substantiate the scheme of the financial space model for the digital transformation of the economic activity of an industrial enterprise based on the concept of “Smart Money”. Research design: the authors suggest that the proposed model of the financial space will allow the integration of industrial enterprises into Industry 5.0 due to the qualitative transformation of the organization’s business system. Results: the possibilities of using smart money as a mechanism for ensuring the sustainable development of industrial enterprises based on an effective innovation and investment block have been identified. Embedding “smart money” into the ecosystem of an industrial enterprise’s activities will increase the adaptive capabilities of the organization and increase the effectiveness of work. Digital transformation involves not only the use of new digital tools, but also the restructuring of the management system, the reform of the business model and system. The new financial space will accelerate the introduction of innovations into the economic activities of industrial enterprises. The increase in efficiency will be achieved by providing synergetic effects within the framework of the formation of a market ecosystem of industrial enterprises