Digitization of Economic Space as an Imperative for the Formation of a Knowledge Economy

Currently, information and communication technologies play a huge role not only in the lives of individuals, but also transform economic processes, modernize entire industries and various types of social and economic activity, and become drivers of innovation, economic growth and competition. The purpose of this study is to show how digital technologies modify the economic space and thereby influence the formation of the knowledge economy. The article defines the “knowledge economy”, shows the stages of its formation. The authors argue that digital technologies will be the basis for the development of the knowledge economy in the coming years. At the second stage, an important role will be played by the intellect, creative abilities of a person, aimed at creating innovations. © Springer Nature Switzerland AG 2020.