ANALYSIS OF THE SCIENTIFIC AND METHODOLOGICAL APPROACHES FOR STUDYING THE RELATIONSHIPS BETWEEN DIGITALIZATION, SOCIO-ECONOMIC SPHERE AND SECURITY
Abstract
The invasion of digital technologies into the socio-economic sphere has tangible advantages and significant disadvantages, including security issues related to personal data protection. The corresponding changes also affect research methods applied in this area, including the ability to analyze and predict complicated relationships affected by wide usage of digital tools and technologies by state-owned and private companies, educational institutions, and so on. Traditional econometric approaches have proven to be effective for years, but nowadays they are beginning to give way to the more actual methods that rely on artificial intelligence and machine learning usage, big data analysis, etc. due to their inability to respond dynamically to the economic and social sphere changes, as well as cover the rapid technological breakthroughs caused by the pace of digitalization. This topic is relevant today and is being considered by many domestic and foreign researchers. Scientists are trying to update traditional econometric methods to make them more effective considering the digital age for calculating forecasts and to create models based on them according to research areas. This article aims to analyze the pros and cons of the scientific and methodological approaches that can be used to study the relationship between digitalization and the areas it directly affects: the economy, social sphere, and security. The analysis was carried out by collecting data on the capabilities of traditional and modern econometric models, giving examples of specific models, highlighting their weaknesses and strengths, and outlining the possibilities of updating classical models to use them in the current realities of the digital economy. The results show that it's a misconception to state that some models are superior to others. Each model has its strengths and weaknesses, and it is necessary to find a middle ground between the advantages of classical and modern models for effective work with them. The results of this study can be used by researchers who aim to study the interconnections between digitalization, the socio-economic sphere, and security.
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