The Algorithm of Managing the Process of Formation and Development of Industry 4.0 in the Modern Economic Systems in the Conditions of Knowledge Economy’s Formation

The purpose of the article is to develop a perspective algorithm that allows adapting the corresponding management not only to socio-economic peculiarities of a country but also to its possibilities and interests in formation of knowledge economy for provision of high flexibility of this process. During development of the algorithm of managing the process of formation and development of Industry 4.0 in modern economic systems in the conditions of knowledge economy’s formation, the authors use the methods of analysis, synthesis, induction, deduction, and formalization, as well as special methods of economic science—modeling of socio-economic systems and special-purpose method. As a result, the authors offer the algorithm of managing the process of formation and development of Industry 4.0 in the modern economic systems in the conditions of knowledge economy’s formation, which advantage, apart from flexibility, it its complex character: the offered algorithm takes into account not only the purposes of formation and development of Industry 4.0 but also the possibilities of the socio-economic systems in their achievement, determined by progress in formation of knowledge economy, and allows balancing these purposes with the purposes of knowledge economy’s formation, thus optimizing the management of the process of formation and development of Industry 4.0 in modern economic systems in the conditions of knowledge economy’s formation. Advantages of this algorithm include the universal character: it could be applied in any socio-economic systems, as it envisages consideration of national peculiarities and successful adaption to them; it could also be used at any phase of the economic cycle, including the phase of stability and the phase of crisis. An advantage of the algorithm is its interactive character: it is based not on tough frameworks but on the choice from existing alternatives and constant correction of the strategy of managing the process of formation and development of Industry 4.0 in modern economic systems in the conditions of knowledge economy’s formation depending on the current situation. This algorithm is cyclic: it envisages accumulation of experience, which ensures constant improvement of managing the process of formation and development of Industry 4.0 in modern economic systems in the conditions of knowledge economy’s formation.