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Human Capital Theory in the Context of Digital Transformation of the Economy
Zhuravlova I. V.

Zhuravlova, Iryna V. (2025) “Human Capital Theory in the Context of Digital Transformation of the Economy.” Business Inform 7:241–248.
https://doi.org/10.32983/2222-4459-2025-7-241-248

Section: Labour economics and social policy

Article is written in Ukrainian
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UDC 331.101.262:004

Abstract:
The aim of the study is the theoretical generalization and substantiation of the transformation of the conception of human capital in the context of the digital economy, identifying key features of digital human capital, as well as determining the role of digital skills, lifelong learning, soft/meta-skills, and digital inclusion as new components of competitive human potential. The article examines the evolution of human capital theory in the context of the digital transformation of the economy and society. It is substantiated that digitalization, automation, the development of AI, and the conception of Industry 4.0 necessitate a rethinking of the content of human capital, which now includes not only educational and professional characteristics but also digital, cognitive, social, communication, and adaptive competencies. The theoretical approaches from classical human capital theorists (W. Petty, A. Smith) to contemporary authors (T. Schultz, G. Becker, M. Castells, P. Drucker), who shaped the conceptual foundations for investing in people, are analyzed. A comparative table is proposed, demonstrating the differences between traditional and digital human capital based on several criteria: sources of formation, types of skills, assessment methods, roles in the economy, etc. It is substantiated that data, digital skills, the ability to collaborate with technologies, continuous learning, and soft skills are becoming key components of competitive human capital. Special attention is given to the categories of digital skills, soft/meta-skills, lifelong learning, as well as digital inclusion as conditions for ensuring equal access to digital resources and education. The author defines the modern worker not only as an object but as an active subject of digital change. The impact of digital transformation on the labor market structure is examined, emphasizing the role of flexible thinking, proactivity, and the ability to reskill and upskill. A new model of investing in human capital has been outlined, based on a partnership between the State, business, and educational platforms, with an emphasis on online education, micro-qualifications, and EdTech. It has been shown that digital inclusion is a critically important factor in ensuring equal access to opportunities for human capital development. The necessity for new approaches to evaluating human potential has also been revealed – through digital badges, blockchain certification, and HR analytics. It has been concluded that in the context of digital transformation, human capital acts not only as a driver of economic growth but also as the foundation for innovative development, social cohesion, and global competitiveness of countries and companies.

Keywords: human capital, digital human capital, digitalization, digital competencies, adaptability, inclusion.

Tabl.: 1. Bibl.: 19.

Zhuravlova Iryna V. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance and Credit, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

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