DIGITIZATION DEVELOPMENT ANALYSIS WITHIN THE SMART ECONOMY AND SOCIETY IN THE VISEGRAD 4 GROUP COUNTRIES

This research paper is devoted to analysis the circumstances of how the digitization process in economy and society will affect sustainable economic and social development in V4 countries to enhance their competitiveness in EU economy. The main objective of the research is to estimate the impact of digitization processes in the smart economy and society on sustainable economic and social development in V4 countries. The estimation is based on the World Bank, IMD, DESI, EIS data assessment approach. The main method used is the correlation a regress analysis conducted within the framework of the VEGA project output, from which data related to assessment were analyzed along with graphical explanation. The results have indicated that to fully benefit from digitization processes, V4 countries must strategically invest in digital tools, develop digital skills within their workforce. The ability to adapt to and leverage digital technologies will be a key determinant of success in the increasing digital business landscape to enhance their competitive advantage within the sustainable economic and social development in the EU.