Intensifying technologies as the foundation of the digital economy

The “Internet revolution” has been going on for more than 30 years and the pace of change in the economy is not slowing down. Business sectors are developing using intensifying technologies in the field of robotics, artificial intelligence, miniaturization and customization. Companies seek to increase their share of consumer and corporate spending by collecting and analyzing massive amounts of data, turning it into actionable information. Human activity in digital reality leads to better access to knowledge, as well as the possibility of creating new knowledge, which is of particular importance today. However, digital tyranny in the form of artificial intelligence and other advanced technologies could put an end to democratic freedoms and create a digital dictatorship. Progressive automation could render billions of people “economically insignificant” and create “hordes” of useless employees. The article examines the impact of transformative technologies (5G communications, artificial intelligence, the Internet of things, quantum data processing, robotics and autonomous transport) on the economy.