The role of technologies in stimulating the innovative development of the economy

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dc.contributor.authorBobro, N. S.
dc.date.accessioned2024-10-23T14:03:04Z
dc.date.available2024-10-23T14:03:04Z
dc.date.issued2024
dc.description.abstractThe article analyzes the role of technology> in stimulating innovative economic development. It is identified that two key trends can be distinguished today: the automation of economic processes and the use of artificial intelligence in the economy. The automation of economic processes may involve the use of industrial robots in factories, the automation of warehouse processes, as well as the roboticization of certain types of services, such as chatbots and automated information processing systems in the banking sector. It is noted that concurrently with the automation of the economy, a second wave of relocation of production from countries with cheaper labor is observed in many countries. The cost reduction in robot production, especially against the backdrop of increasing labor costs, stimulates the automation of the economy, often leading to the reshoring of production. However, the regularity! of increasing the level of economic automation with the reduction of production costs and the introduction of robots, and the increase in labor costs, is not absolute in open economic systems with a developed system of the international division of labor. This is because a part of production, mainly low-tech and with low value-added, is outsourced to countries with high labor costs. The described trends in the development of artificial intelligence in the economy include the increase in efficiency of production processes and the creation of new products and services. In the industry, artificial intelligence systems are used to solve various production tasks, improving the accuracy and speed of individual processes, rationalizing resource utilization, operational decision¬ making quality, and management efficiency. Today, the implementation of artificial intelligence is particularly effective in the following economic sectors: demand forecasting, financial markets, production optimization, risk management, and quality control. It is emphasized that one of the important issues is the regulation of artificial intelligence in the economy. Thus, the state should have legislative norms and mechanisms to regulate the use of artificial intelligence in business.
dc.identifier.citationBobro, N. S. (2024). The role of technologies in stimulating the innovative development of the economy. Economics and Management, 1, 68-74 [in English].
dc.identifier.urihttp://dspace.e-u.edu.ua/handle/123456789/577
dc.language.isoen
dc.titleThe role of technologies in stimulating the innovative development of the economy
dc.typeArticle
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