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In today's turbulent and unstable environment, international companies, including Ukraine and Georgia, are forced to move to technologies they did not plan to implement for some time and reconsider their strategic priorities. "Become digital or die" is the reality of the COVID-19 epidemic. Companies that will survive in the long run - those that have the best tools that allow them to be flexible, agile, agile; those who are better than others will be able to respond to changes in the product range, control and monitor their factories, regulate supply chains and will be able to use their workforce really anywhere. Mixed research methods were used to analyse the data. The theoretical and methodological basis of the study were the dialectical method of cognition, a systematic approach to the use of general provisions of economic theory. According to the research results, despite the serious positive transformations in the field of digitalization, there are a number of current and significant unresolved issues in the industry. It is established that the digital economy in Ukraine and Georgia, despite a number of existing problems, is developing dynamically. Organizations in various sectors of the economy are beginning to actively implement digital solutions, taking into account the specifics of their activities. Innovation is the engine of economic development, so attempts are made to find and create the most appropriate forms of organizational associations of innovative enterprises, alliances, within which strong cooperative ties can be established. The need for large-scale cooperation and coordination in the form of networking of participants in the innovation process becomes quite obvious, which provides them with a beneficial effect and corresponding competitive advantages. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has resulted in an unprecedented shock to firms with adverse consequences for existing productive capacities. At the same time, digitalization has increasingly been touted as a key pathway for mitigating economic losses from the pandemic, and we expect firms facing digital constraints to be less resilient to supply shocks. This paper uses firm-level data to investigate whether digitally-enabled firms have been able to mitigate economic losses arising from the pandemic better than digitally-constrained firms in the Middle East and Central Asia region using a difference-in-differences approach. Controlling for demand conditions, we find that digitally-enabled firms faced a lower decline in sales by about 4 percentage points during the pandemic compared to digitally-constrained firms, suggesting that digitalization acted as a hedge during the pandemic. Against this backdrop, our results suggest that policymakers need to close the digital gap and accelerate firms' digital transformation. This will be essential for economies to bounce back from the pandemic, and build the foundations for future resilience. • We study the impact of digitalization on business performance during the COVID-19 crisis. • A difference-in-difference methodology is employed to study how investment in digital technologies affect both digitally-enabled and digitally constrained firms. • We find that firms that have invested in digitalization before the crisis experienced a smaller decline in sales compared to those that have not. • This effect is particularly stronger in contact-intensive sectors. [ABSTRACT FROM AUTHOR]

The concept of Industry 5.0 gives a distinctive center and highlights the significance of inquiring about and advancement to back the industry in its long-term benefit to humankind inside planetary boundaries. The concept of industry 5.0 was given by the Japan. They emphasized on advanced technological advancement in each sector for more production and economic upliftment. Industry 5.0 needs to come to hold with the guarantees of progressed digitalization, huge information, and counterfeit insights, whereas accentuating the part these innovations can play to address modern, new prerequisites within the mechanical, societal and natural scene. Unused technologies have the potential to form work environments more comprehensive and more secure for specialists, as well as increment their work fulfillment. Many have lost their job during the pandemic. A large section of our society is not able to cope with innovative techniques. The study will highlight the challenges to inclusive work environments in MNCs in India and suggest measures to face these challenges through empirical research. [ABSTRACT FROM AUTHOR]