Innovative models of digital economy as a factor of sustainable development of smart cities

The article discusses modern innovative models of the digital economy, which are increasingly being used in the framework of improving the efficiency of the functioning of socio-economic systems at various levels, including the development of smart cities. The purpose of this study is to identify the features of the application of innovative models of the digital economy in the development of smart cities. The basis for the study was already well-known research on the subject of digitalization of socio-economic systems of different levels, as well as the author's results in the field of research on the processes of digitalization of modern cities. The research method is a systematic logical analysis of various stages of digitalization and directions of development of modern cities. The paper shows that the digitalization of socio-economic relations creates a number of advantages that allow more efficient use of limited resources, management, and implementation of innovative development ideas. This study examines a number of innovative models of the digital economy, their features and benefits in the development of modern cities, as well as practical tools for implementation. The main differences between such models of organizing socio-economic interactions are the focus on digital data and knowledge, the decentralization of managerial decision-making processes, the distributed, network nature of interactions, the accumulation and use of joint resources. The paper notes that the main difference between smart cities is the use of innovative solutions in the field of digital technologies. On the basis of digital innovations, new tools of socio-economic interactions are formed, such as digital platforms, social networks, crowdsourcing platforms, etc. Such innovations are being actively introduced into the system of urban management, involving the population in decision-making processes. The theoretical and practical significance of the study lies in the formation of possible future studies of reasonable management in a digital society.