Digital Transformation of Socio-economic Development by The Quality-of-Life Vision

Authors

Sergey E. Barykin, Graduate School of Service and Trade, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, RussiaFollow
Olga V. Kadyrova, Department of Management and Innovation, Saint Petersburg State University of Economics, St. Petersburg, RussiaFollow
Prokhor K. Senchin, Graduate School of Service and Trade, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, RussiaFollow

Abstract

In this study, we investigate the digital transformation of socio-economic development through the quality- of-life vision, highlighting the importance of sustainable and inclusive strategies that prioritize the well-being of individuals and communities. Digital technologies have transformed socio-economic development worldwide. Assessing the quality of life in the digital economy is essential to ensure that everyone benefits from this transformation. Artificial intelligence (AI) and big data can help policymakers make informed decisions to achieve this goal. Technological singularity is the hypothetical point at which AI surpasses human intelligence. This could have profound social and economic consequences. New indicators, such as digital service availability, are emerging to measure quality of life in the digital economy. AI methods can be used to analyze this data and make decisions that improve societys well-being. High-performance computing (HPC) and big data technologies can be used to collect real- time socio-economic statistics. The feedback mechanism in Web 4.0 and the transfer of economic processes to online platforms provide the necessary data for analysis. This paper does not provide specific results, but it highlights the potential of HPC, big data, and AI to assess quality of life in the digital economy. This data can be used to make informed decisions that positively impact society. Digital technologies have created new challenges in assessing quality of life. However, it also presents an opportunity to use HPC, big data, and AI to make informed decisions that benefit everyone.

Recommended Citation

E. Barykin, Sergey; V. Kadyrova, Olga; and K. Senchin, Prokhor (2023) "Digital Transformation of Socio-economic Development by The Quality-of-Life Vision," Information Sciences Letters: Vol. 12 : Iss. 11 , PP -.
Available at: https://digitalcommons.aaru.edu.jo/isl/vol12/iss11/2