Developing Models and Tools for Exploring the Synergies between Energy Transition and the Digital Economy

Developing models and tools to explore the synergies between energy transition and the digital economy has been an interesting topic, aiming to provide significant contributions to the domains of technological innovation, economic development, sustainability, and global establishment. All efforts from these models and tools can support the advanced and establishing countries by collaborating among all members, researchers, governments, and others. Our continuing research presented the revolutionary potential of insights derived from data and demonstrated the connection between the digital economy and the search for sustainable energy solutions. The second phase of this ongoing investigation focuses on how the digital economy might catalyze beneficial changes in the energy sector. These computerized tools are crucial for improving the efficiency of renewable energy production, anticipating energy demand accurately, and optimizing patterns of energy usage. These technologies enable decision-makers in the energy sector to use complex algorithms and data processing to make precise and well-informed decisions. They represent a substantial shift from older, less data-driven techniques.The following argument highlights how important predictive analytics is for forecasting changes in energy consumption. Data analytics and machine learning models can foresee changes in demand and help energy providers make plans by examining historical data and current patterns. This capacity is essential for guaranteeing the best possible use of resources, avoiding waste, and preserving the equilibrium between energy production and consumption. Optimizing energy use is another important area where the digital economy could be helpful. Machine learning algorithms can make recommendations for ways to improve energy efficiency by analyzing usage patterns and user behavior. This contributes to general energy conservation, which is in line with environmental goals, in addition to perhaps saving consumers money.Numerous studies highlight how ICT-assisted modeling is becoming more and more common in various contexts. These include data modeling (representing and analyzing data structures) and behavior/pattern modeling (understanding and forecasting trends in diverse processes). The phrase refers to the cross-platform accessibility and adaptability of these technologies when referring to web-based and mobile-based applications. The conversation highlights the broad applicability of these technologies and suggests that they are not exclusive to any industry or business. The cross-domain applicability of ICT-assisted modeling is demonstrated by its potential benefits for corporate, government, and public groups. The concept of a digital twin with rich visualization is introduced as a particularly intriguing application. Creating a virtual representation of a real system or process allows for comprehensive tracking, assessment, and optimization. The paragraph argues that the energy sector's efforts to manage energy more effectively can benefit significantly from the adoption of digital twins. Moreover, the potential advantages of digital twins extend to the healthcare sector, where modeling and digitalization can address challenges in this field. In addition, the conversation presents the idea of digital platforms that offer rewards for environmentally conscious actions within the energy sector. These platforms can use innovative market mechanisms to encourage actions that contribute to environmental goals. The discussion claims that digital platforms can encourage demand response and energy conservation by offering users incentives to adjust their energy consumption patterns in response to market or environmental signals. The focus on sustainability draws attention to how integrating digital platforms into energy markets might help society and the environment more broadly. Incentives for demand response and energy conservation not only encourage the more economical use of resources but also contribute to global initiatives aimed at lowering carbon footprints and mitigating the effects of climate change. The 5th International Scientific Conference on Innovations in Digital Economy: SPBPU IDE-2023 has already been held on 12 - 13 October 2023 at Peter the Great St. Petersburg Polytechnic University located at Novorossiyskaya, Saint Petersburg, Russia, with interesting topics such as (i) Economic efficiency and the social consequences of implementing digital innovations, (ii) Regional innovation systems and clusters as drivers of economic growth during the Fourth Industrial Revolution, (iii) Industrial, service and agricultural digitalization, (iv) Responses of the educational system and labor market to digital-driven changes in the economic system, (v) Digital transformation in the government sector, (vi) Digital transformation in the financial sector. This conference is organized by the Graduate School of Industrial Economics (GSIE) of Peter the Great Saint Petersburg Polytechnic University (SPbPU) and the Centre for Sustainable Infrastructure Development (CSID) of Universitas Indonesia (UI). SPBPU IDE-2023 is expected to have a significant impact on the economic, social, and environmental aspects of both regional and national levels. A thorough examination of this phenomenon was evident in the 21 papers that were presented, which mostly focused on researching important aspects such as support systems, finance structures, and regulatory frameworks that control industry operations. The expected results of these research efforts include increased efficiency in investment use, enhanced competitiveness of businesses, and a significant shift towards an ecologically conscious approach to industrial activity. Especially in industrial activities, there is a significant impact on the progress in the economic, social, and environmental conditions of regions and the country as a whole in Russia. The discussion is supported by the presentation of 21 papers, which primarily examine the main forms of support, financing, and regulation of industrial activities, identifying problematic aspects of state support for them. Their approaches are expected to result in more efficient investment utilization, enhanced competitiveness of enterprises, and a shift towards an environmentally focused approach in industrial activities.