Digital transformation of business models: influencing factors and key trends

Abstract

The digital transformation of business processes refers to the shift from old or analog methods of conducting activities to the use of digital technology and tools across all organizational levels. This enables the enhancement of activity efficiency and quality, reduction of associated operational expenses, acceleration of process execution, and improvement of communication and 
connectivity between business participants and customers. To facilitate the digital transformation of  business models, contemporary and significant technologies such as the Internet of Things (IoT), artificial intelligence, blockchain, and data analytics are being employed. In the article, the trends of digital transformation of business models are touched upon. The main 
purpose of the article is to investigate the importance of digital transformation of business processes  and to examine the main factors that trigger this process. For this purpose, the following tasks were put  forward and fulfilled: the study of the business model concept; study of the need to transform business 
models; exploring digital transformation trends; review of key factors of flexibility of business models.  The topic of the article covers issues that have become relevant in recent times. The main research question answered in the article is