New trends of the economy: a case of digital energy

¹ International Economy Department, Azerbaijan State University of Economics (UNEC), 6, Istiglaliyyat str., AZ1001, Baku, Azerbaijan
² SABAH CENTER, Azerbaijan State University of Economics (UNEC), 6, Istiglaliyyat str., AZ1001, Baku, Azerbaijan

^* Corresponding author: aysel.guliyeva10@gmail.com

Abstract

This paper studies the concept of “digital energy”, its own unique content, or maybe is it just a fashionable designation for what has been done in the industry since the massive spread of computer technology. Why use the neologism “digitalization” instead of the well-known and well-defined term “automation”? Some sources insist on having its own unique content in terms of “digital energy” and “digitalization”. This post sets out our working hypothesis – five distinguishing features by which one can understand whether we are working with the concept of “digital energy” or with something else. In digital energy as a part of the digital economy, the main concept is “economy”. The essence of digital energy is the reassembly and development of a set of industrial and economic relations in the industry based on digital approaches and means. Consequently, the essence of digital energy is the reassembly and development of a set of industrial and economic relations in the industry based on digital approaches and means. So, in the phrase “digital economy” (and hence “digital energy”), the defining word is “economy”, and the adjective “digital” only indicates the means to achieve the goal.