THE NATURE OF SOCIO-ECONOMIC TRANSFORMATION

Abstract

Transformations of both socio-economic, socio-cultural, and political systems are constantly taking place in society, which are a reflection of visible changes. Transformational processes are at the heart of the development of the modern economy, which are characterized by changes in society, the level of progress, and the search for solutions for the upcoming changes. The main goal of the transformation process is to adapt the country to the new requirements of the scientific and technical process, developed and successful economic and social relations. The transformation of the socio-economic sphere leads to the accelerated introduction of a new business model. The main principles of which are globalization and informatization, increasing the speed and expansion of innovation leads to new opportunities for economic, social and personal development. The article discusses the concept of “transformation”. The purpose of the article is to analyze the actual aspects of transformation in the social and economic sphere that occur in the fourth industrial revolution with the introduction of Industry 4.0 technologies. Based on the analysis, it can be concluded that the current economic system should be transformed under external and internal factors in a certain period of time, and adjustments should also be made in view of foreseen and unforeseen circumstances. To ensure long-term development based on the formation of an innovative type of economy and ensuring a high standard of living of the population.