71
“DEVELOPMENT ISSUES OF
INNOVATIVE ECONOMY IN THE
AGRICULTURAL SECTOR”
International scientific-practical conference on March 25-26, 2021.
Web:
http://conference.sbtsue.uz/uz
SOME SPECIFIC FEATURES OF DIGITAL ECONOMY
Bunyod Yodgorov
1
Javokhir Rustamov
2
Abstract:
This article highlights the role of the digital economy
in the world today and its
growing trends, some features of the digital economy, their characteristics and essence.
Key words:
digitization, features of the digital economy, digital technologies, Uzbekistan.
1
Second year student of Economics (Food Systems Management) of the joint education program of the
Samarkand branch of Tashkent State University of Economics (SBTSUE)
2
First year student of Economics (Food Systems Management) of the joint education program of the Samarkand
branch of Tashkent State University of Economics (SBTSUE)
72
“DEVELOPMENT ISSUES OF
INNOVATIVE ECONOMY IN THE
AGRICULTURAL SECTOR”
International scientific-practical conference on March 25-26, 2021.
Web:
http://conference.sbtsue.uz/uz
It is well known that the economy of any country plays an important role in its development. The
main task of the economy is the management of a particular sector of the economy, the regional
economy, the methods and forms of organization of production, as well as production management. As
humanity and other sectors develop, so does the field of economics. The economic development
strategy is based on such factors as the development of industry, services and agriculture,
increasing
entrepreneurship in entrepreneurs and providing financial resources. Economic growth is characterized
by indicators such as nominal GDP (gross domestic product) growth, economic efficiency, and per
capita income.
Various measures, innovations and reforms are being carried out in Uzbekistan to develop the
economic sphere. Digitization of economic processes is becoming a widespread trend that covers not
only the direct information network, but also all areas of economic activity in the country.
As the President of the Republic of Uzbekistan Sh.M.Mirziyoev noted in his Address to the Oliy
Majlis: “... we know very well that the formation of the digital
economy requires the nec
essary
infrastructure, a lot of money and labor resources. But no matter how difficult it is, if we do not start this
work today, when will we start ?! It will be too late tomorrow. Therefore, the active transition to the
digital economy will be one of our priorities for the next 5 years. Digital technologies will not only
improve the quality of products and services, reduce unnecessary costs.”
3
The digital economy is characterized by the emergence of new services and their share in GDP,
new business models, the capitalization of companies doing business on the Internet, the number of
users - content consumers, participants, the emergence of aggregators and other new types of companies
and changes in competition. . The introduction of Industry 4.0 technologies
into the production cycle,
shortening the horizontal chains of value creation, the transition to customized products and services,
personalized service, the reduction of the viability program of innovations and the difficulty of
predicting new technologies are important.
Today, the management of digital economy, e-business and e-commerce is part of the
interdisciplinary field of scientific knowledge. It is they who are interested not only in watching modern
youth and the evolution of the digital economy, but also in those who participate in it.
The first feature is the emergence of new types of services that were not available before the advent
of the Internet. This includes the emergence of new markets for goods and services based on the use
of online technologies and Internet capabilities from 1990 to the present,
such as messengers,
aggregators, Internet search, Internet advertising, Internet commerce, e-coaching, e-learning and
more.
The digital economy allows businesses to search for new ideas based on rapid business analysis and
make quick feedback with customers, which allows companies to respond quickly to the innovative
desires of potential customers. This was facilitated by the emergence of Google Analytics,
Yandex.Metrics and other free services.
Changes in the nature of competition. The emergence of aggregators and other companies of a new
type in the market. It is safe to say that business models will change
under the influence of new
technologies of e-commerce and the digital economy. This is reflected in the significant and
sometimes significant changes in the structure of service supply in the market and is reflected in the
nature of competition.
The capitalization of companies representing e-business directly depends on the number of users
and their growth rate. This leads companies to make higher profits from sales.
The digital economy is characterized by a shortening of the life cycle of innovations. This has led
mass manufacturers to race to produce new models of smartphones, computers, new mobile
applications, new variants of computer games, which are characterized
by frequent changes in the
range of models and rapid change in the range of products and services.
Among the key features of the digital economy is the fact that it is difficult to predict the emergence
of new technologies, which means that under certain conditions they can be manifested as advanced
3
Address of the President of the Republic of Uzbekistan Sh.M.Mirziyoev to the Oliy Majlis. //
“Xalq so’zi” paper
,
24.01.2020.
