DIGITALIZATION OF BUSINESS IN THE EUROPEAN UNION - STATE AND PRIORITIES

Digitalization is of vital importance for the development of business in the European Union. In today’s dynamic and high-tech environment, digital technologies underlie the development, implementation and improvement of business models related to maximizing the ability of companies to generate added value and achieve positive effects (results). Digitalization is a key differentiating factor for improving the way of organization and timely digital transformation of business in order to achieve economic sustainability and growth. The aim of this paper is to study the level of business digitalization in the European Union and derive specific business solutions and practices for its effective implementation. As a result of the study, this paper identifies the current state, specifics and dynamics in the development of digitalization of business within the European Union. It also traces the main trends, highlights the problem areas and outlines the guidelines and priorities for increasing the implementation of modern digital technologies and innovations.