Transformation of social institutions functions in digital economy development

Abstract

The large-scale introduction of end-to-end technologies and digital economy development leads to transformation of institutional environment, which, in turn, contributes to the creation of new social institutions and changes of basic foundations of the institutions functioning in accordance with the requirements of digital economy. The purpose of the article is to study the fundamental bases of social institutions functioning in order to identify the foundations of transformation of social institutions functions in the development of digital economy. The methods of monographic research, review of the conceptual provisions of scientific schools, discussion of the opinions of the scientists and specialists in the field of development of social institutions, and generalization of institutional transformations practice under conditions of development of digital environment and information prerequisites are used. The article examines the essential meaning of the term social institution in detail. The main universal functions of social institutions are considered and supplemented in accordance with digital realities. The functions of the main social institutions in digital economy are proposed. In Under conditions of digital economy social institutions perform the following functions: the function of consolidating and reproducing social relations, regulatory, integrative, broadcasting, communicative and educational functions, the function of universal digitization of data, and the function of automation and robotization. The explicit and latent (hidden) functions of social institutions are considered. The author notes that all institutions of digital economy development are interconnected, and only within the framework of this interaction they can represent a powerful factor in digital development of the country's economy.