FUNCTIONS OF SOCIAL NETWORKS: IMPLICATIONS, EMERGING CHALLENGES, AND PROSPECTIVE SOLUTIONS

Abstract

The article provides a comprehensive examination of the key functions of social networks and their impact on various spheres of contemporary society, while also identifying the challenges arising from their intensive development. Particular attention is devoted to the communicative, informational, economic, socio-political, and cultural-identificational functions. It is demonstrated that social networks have become not only a tool of personal and mass communication but also an essential factor in the digitalization of the economy, the formation of public opinion, and the preservation or erosion of cultural identity. The analysis 
reveals that the positive effects of social network usage include the expansion of opportunities for global and intercultural communication, the acceleration of information exchange, the development of digital business and e-commerce, the strengthening of civic engagement, and the increased involvement of youth in public processes. At the same time, a number of problematic aspects are identified: the spread of 
disinformation and manipulative content, the intensification of societal polarization through “echo chambers,” the rise of cyberbullying, the formation of digital dependence, the decline of privacy and threats to personal data, the monopolization of the market by major platforms, as well as processes of cultural unification that lead to the erosion of local traditions and values. Based on the analysis of scholarly literature and contemporary research, a set of recommendations is proposed to minimize the negative consequences of social networks’ functioning. These include enhancing the transparency of algorithms and the accountability of digital platforms, advancing users’ digital media literacy, establishing international standards for the regulation of social networks, supporting cultural diversity, and promoting ethical principles in the digital environment. The findings emphasize the necessity of a comprehensive, interdisciplinary approach to the study and regulation of social networks, which, under conditions of globalization, function as a system-forming element of the global information space. Thus, the study not only highlights the dual nature of social networks—as both a resource for development and a source of risks—but also provides a foundation for developing balanced strategies aimed at managing their effects in the interests of sustainable societal development.