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ADVANTAGES AND ECONOMIC ASPECTS OF THE DIGITAL
ECONOMY IN UZBEKISTAN
Bahronova Dilafruz Toymurodovna
Head of the Zarafshan City Branch, Navoi Region, Republican Center for
Spirituality and Enlightenment
https://doi.org/10.5281/zenodo.14059654
The digital revolution, which is manifested as a new stage of economic and
technological development, has rapidly changed human life, created wide
opportunities, and started a period of further tightening of the international
competition field.
Nowadays, the concept of digital economy has appeared in the economic
theory and practice of a few countries. This is the rapid development of digital
technologies, the revolution in the information sector and the globalization of
the economy distinguished by speeding up processes. The efficiency of their use
has been transformed into increasing knowledge, and socio-economic relations
are expanding more and more. The digital economy is used to represent two
different concepts. First, the digital economy is considered a modern stage of
development, characterized by the priority of creative work and information
benefits.
Secondly, the digital economy is a unique concept, the object of its study is
the information society. In today's rapidly developing global economy, the
digital economy is in the early stages of its development, and it will take only a
few years for our era to fully transition to the digital information stage. As stated
by the President of our country, Shavkat Mirziyoyev, "To achieve development, it
is necessary and necessary for us to acquire digital knowledge and modern
information technologies. This gives us the opportunity to take the shortest path
to ascension”[1].
On March 1, 1995, American programmer Nicholas Negroponte
introduced the term “Digital Economy” into practice. Today, this term is used by
politicians, economists, journalists, and entrepreneurs worldwide—almost
everyone [2].
In the future of modern development, digital technologies such as big data
processing technologies (Big Data), artificial intelligence, neurotechnologies,
quantum technologies, the Internet of Things, robotics and sensorics, digital
electronic platforms, cloud and mobile technologies, virtual and augmented
reality technologies, crowdsourcing, blockchain technologies, cryptocurrencies,
ISO (International Organization for Standardization), and 3D technologies are
becoming increasingly crucial [3].
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Also, the digital economy is not some completely new economy that needs
to be created from scratch. It is the transition of the existing economy to a new
system through the creation of new technologies, platforms and business
models, as well as their implementation in everyday life. The main
characteristics of this system include:
High level of automation;
Electronic document exchange;
Electronic integration of accounting and management systems;
Electronic databases;
Corporate networks.
The advantages of the digital economy are as follows:
Reduction in payment costs (for example, resources are saved on trips
to the bank and other expenses).
More extensive and faster information about goods and services.
Increased opportunities for goods and services to enter the global
digital market.
Rapid improvement of goods and services due to prompt feedback from
consumers.
Faster, higher quality and more convenient service [4].
As a result of reforms, openness, and development of international
economic and political relations in the new Uzbekistan, opportunities for
modernization of industrial sectors, technical and technological re-equipment
have been created in our country. An example of this is the increasing volume of
foreign trade of our country. Hundreds of expressions such as "electronic
government", "electronic management", "telecommunications", "internet",
"website" have become an integral part of our life.
It should be noted that some elements of the digital economy are already
successfully operating in the life of our country. In particular, taking into account
the mass transfer of documents and communications to digital carriers, the use
of electronic signatures was allowed, and mutual cooperation with state bodies
is carried out through electronic platforms [5].
The practical importance and features of the digital economy, first of all,
significantly improve people's living standards, which is its main advantage.
The choice of the state to develop the digital economy opens up new
directions in the field of information technologies and electronic document
circulation in general. The development of "digital technologies" became
possible thanks to the development of the World Wide Web and high-quality
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means of communication. It should be said that currently users are actively
using Telegram bots to order food, various perfumes and fashionable clothes. In
addition, various online stores and electronic payment systems are also actively
developing. This shows that our citizens are confident in making electronic
transactions. However, to date, users have only made small transactions that do
not require large costs and are not ready to significantly increase the average
volume of purchases. Currently, there is a question of developing the
implementation of medium and large economic transactions and financial
transactions using digital technologies.
International experience shows that digital technologies are currently actively
developing in the scientific community and the private sector. Therefore, it is
necessary for the state to create a favorable ecosystem by supporting innovative
projects and IT companies in these areas.
References:
1.
President of the Republic of Uzbekistan Shavkat Mirziyoyev. (2020,
January 24). Appeal to the Oliy Majlis.
2.
Kelley, K. (1998). New Rules for the New Economy: 10 Radical Strategies
for a Conscious World. New York: Viking.
3.
Dihit, J. B. (2011). Fundamentals of Computer Programming and IT.
Lakhmi Publication PVT. Ltd., 557 pages.
4.
Applegate, L. M., McFarlan, F. W., & McKennie, J. L. (1996). Corporate
Information Systems Management: The Issues Facing Senior Executives. Irving.
5.
Hiscorkerson. (2000). Business and Information Systems (3rd ed.). New
York: John Wiley & Sons.
