Innovative development in IT Sphere in the Context of the Industry 4.0 Concept: the Case of Ukraine

Abstract

The article presents the opinions of scientists on the issue of technologies, innovation, and investment potential in the context of the Fourth Industrial Revolution and the development of the IT sector in Ukraine. It reveals that the formation of favorable innovation and investment potential in the IT sector is influenced by certain factors, as well as specific risks and obstacles. The article outlines the importance of Industry 4.0 and the development of the IT sector in Ukraine for Ukraine and other countries. A definite link between economic growth and innovation and development of the IT sector has been identified, which remains positive only under certain conditions. The authors analyze the leading indicators of capital investment by sources of financing and types of economic activity. The article also deals with the leading indicators of innovative development of Ukraine; of the most common methods of financing startups; companies are in the lead by deal value; the cost of innovation by financing sources; total expenditures in the areas of innovation at industrial enterprises. They were revealed that startups exist in each sector of the economy, which is a favorable factor for potential investors. The main problems related to the formation of innovation, development of the IT sector, and technological potential are identified, and the ways of their solution are suggested. It has been proven that Industry 4.0 is part of the Fourth Industrial Revolution and its successful completion leads to the development of the state's innovation and investment potential, as well as the development of the IT sector only if it is well organized and generously funded.