The article deals with topical issues of the development of the knowledge economy, characteristics, functions, elements, and features of formation. Particular attention is paid to the concept of the knowledge economy, the essential content and evolution of development. The research methodology is aimed at studying modern approaches and trends in the formation of the knowledge economy, as well as factors influencing economic growth, allowing to obtain a multiplier effect in the context of global changes. The purpose of the article is, based on the evaluation of the data obtained, to determine important directions for the development of the knowledge economy. The value of the article lies in the study of factors influencing the development of the knowledge economy, the evaluation of information in order to develop and improve the state of economic growth. The article offers recommendations for innovative development, considers the strengths and weaknesses of the state of the formation of the knowledge economy, acceleration reserves, and outlines the vector of the state's efforts. The article identifies the problems that are caused by the development of the knowledge economy, and suggests promising ways to improve.

knowledge economy, human resources, innovation, education, digitalization