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Economic Analysis: Theory and Practice
 

Security of complex economic systems: Risk management of their digital transformation

Vol. 20, Iss. 4, APRIL 2021

Received: 11 March 2021

Received in revised form: 24 March 2021

Accepted: 2 April 2021

Available online: 29 April 2021

Subject Heading: Crisis management

JEL Classification: L20, O32

Pages: 592–623

https://doi.org/10.24891/ea.20.4.592

Vladimir Ya. ZAKHAROV National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
zaxarov48@yandex.ru

https://orcid.org/0000-0001-6402-4827

Elena N. LUDUSHKINA National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
ludushkina@mail.ru

https://orcid.org/0000-0002-7590-5416

Elena V. KORNILOVA National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
ekornilova89@mail.ru

https://orcid.org/0000-0001-7852-4945

Marina V. KISLINSKAYA National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
mvkislinskaya@yandex.ru

https://orcid.org/0000-0001-5880-6646

Subject. The article presents an overview of recent results of foreign and domestic studies on the security of complex economic systems in the process of their digital transformation. During the deployment of Industry 4.0 technologies, the frequency, diversity and level of digital risks are growing faster than digital security tools for complex systems are evolving. This will offset the benefits of digital transformation, and can lead to large-scale failures.
Objectives. The aim is to identify sources of new threats, vulnerability areas of complex systems and possible losses, assess the result of measures taken, and form a modern paradigm for ensuring the digital security of complex systems.
Methods. The study employs identification, systems analysis and discussion of relationship between recent scientific results on this topic that enable to reveal methodological problems and determine the directions of their solution to ensure digital security at a qualitatively new level.
Results. We unveiled the behavior patterns of complex systems, which form systemic risks, identify trends that are changing the digital risk landscape, consider classifications of weaknesses and possible losses of enterprises in the process of their digital transformation, show the gaps in organizational capabilities to meet digital security requirements. The increasingly complex digital environment forces enterprises to redesign their plans for business continuity.
Conclusions. In the next decade, enterprises will need a new paradigm of security, organically combining economic and social aspects, a strategic and operational approach to the risk management of digital transformation, considering the security management as a flexible learning ecosystem.

Keywords: systems, security, digital transformation, risk, security paradigm

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