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A
BSTRACT
The term “digital economy” refers to the use of information technology to create, adapt, market and
consume goods and services that are based on the use of information technology, in order to make money.
A number of digital research areas have been explored in the past few years, including digital banking, e-
commerce, virtual education, smartphone apps, and collaboration platforms. During the past few decades,
there has been no doubt that the world we live in has been changing steadily in many ways. Among the key
factors that have driven these changes has been the Digital Revolution, which is one of the key drivers of
these changes. It would be more accurate to say that the purpose of digital transformation is not to search
for unicorns on the Internet, but rather to use the newest technology to do what you do already in a more
efficient and effective manner. As a result of digital technologies, many countries are in a position to
enhance their competitiveness and promote economic growth by increasing their use of these
technologies. As a definition, the digital economy refers to the economic activity that results from billions
of online connections that occur every day between people, businesses, devices, data, and processes. A key
component of the digital economy is hyperconnectivity, which is the increasing interconnection of people,
organizations, and machines that is a result of the Internet, mobile technology, and the internet of things
(IoT). There is no doubt that the digital economy is taking shape and upending conventional notions about
how businesses are structured; how they interact; and how they provide services, information, and goods
to consumers.
Journal
Website:
http://sciencebring.co
m/index.php/ijasr
Copyright:
Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Research Article
DIGITAL ECONOMY AND ITS COMPONENTS
Submission Date:
July 20, 2023,
Accepted Date:
July 25, 2023,
Published Date:
July 30, 2023
Crossref doi:
https://doi.org/10.37547/ijasr-03-07-29
Ravshan Abduraxmanov
Doctor Of Philosophy In Technical Sciences, Associate Professor Of Jizzakh Branch Of The National
University Of Uzbekistan
Murotjonova Mubina Dilshod Qizi
Jizzakh Branch Of The National University Of Uzbekistan Named After Mirzo Ulugbek, Faculty Of
“Psychology”, 5230100
- Economy (By Industries And Sectors), Student Of Group 140-20, Uzbekistan
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K
EYWORDS
Digital economic development, digitisation and economic impact, digitisation for competitiveness,
Economy and digital journey.
I
NTRODUCTION
A growing number of technologies, such as the
“Internet of Things”, artificial intelligence (AI),
virtual reality, blockchain, self-driving cars, and
other forms of technology, are expected to
contribute to the growth of the digital economy in
the future. Among the many advantages that it has
to offer, there are a few that I would like to
mention. In consequence, consumers have more
access to information than they used to have, not
just from manufacturers and business owners,
but also from other consumers in forums and
reviews in order to be able to make informed
purchase decisions in the future.
When the digital economy first came into
existence, it was sometimes referred to as the
Internet economy, the new economy, or the web
economy. Because it relies heavily on the Internet
for connectivity, this has led to it being referred to
as the Internet economy, as it relies so heavily on
Internet connectivity for its survival.
It is undeniable that the digital economy is more
advanced and complex as compared with the
internet economy, which is unquestionably more
advanced. Many economists and leaders in the
business world, however, believe that there is
more sophistication and complexity within the
digital economy. As a result of this, it is important
to note that the digital economy can be easily
defined in terms of economic activity. This is
because the value derived from the Internet when
it comes to economic activity.
Currently, we live in an era when the digital
economy is a reflection of the changes that have
taken place from the third industrial revolution to
the fourth industrial revolution, and we are in the
midst of this change. There is a third industrial
revolution, also known as a digital revolution.
This is characterized by the shift from analog
electronics and mechanical devices to digital ones
as a result of the development of digital
technologies. These technologies are sometimes
referred to as the digital revolution. As a result of
this shift, we are experiencing a shift in society as
a result of this shift. I think it is safe to say it is
undeniable that the digital revolution has
contributed significantly to the fourth industrial
revolution. Considering that technology today
continues to bridge the divide between the
physical and cyber worlds in the same way that it
did in the past, this is not surprising.
As a result of the digital revolution in farming, the
following are some of the impacts that it will have
in the future on farm productivity and income:
As a result of technological interventions, farmers
have now been able to gather, view, and evaluate
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crop and soil conditions at various stages of
production in an efficient, cost-effective, and
convenient manner in an efficient and convenient
manner. A number of methods are used in order
to achieve the benefits described in the paragraph
above, including remote sensing, ground sensors,
unmanned aerial photography, market analysis,
and others. It is obvious that the use of all these
digital
technologies
helps
increase
the
productivity of farms and the income of farmers
as well.
The first step in dealing with potential problems
in an effective manner is to identify potential
problems at an early stage. This will enable us to
solve them in a timely manner. Taking action in a
timely manner will allow us to be able to address
them in a way that will prevent problems from
arising in the future. Consequently, this is based
on preliminary evidence, which can be used as a
basis for identifying problems and addressing
these as quickly as possible based on the
preliminary evidence that exists at the moment.
It is expected that the impact of digital Asia in the
near future will have a significant impact on the
market in terms of better market pricing and
lower transaction costs. There is no doubt about
the fact that. This is due to a lower transaction
cost and better market pricing as a result of a
lower transaction cost as a result of a lower
transaction cost. Using the Internet as a medium
for connecting with every corner of the country
has made it possible for every farmer in the
country to have access to every corner of the
country at all times. Keeping them up-to-date
with the happenings on the ground will be a great
way for them to stay in the know. As a result,
farmers will be able to save more money as a
result of this,because they will not have to pay a
lot of money to intermediaries, and as a result,
they will be able to reduce the amount of money
they have to spend on them. It is also likely that
they will be able to increase their income as a
result of doing so, as a result of doing so, as a
result of doing so.
As artificial intelligence/machine learning
(AI/ML) algorithms become more sophisticated
in the future, it will become easier for them to
provide real-time, actionable insights to
businesses as they become more sophisticated. It
is believed that this technology will be able to
assist farmers in improving crop yields,
controlling pests, providing them with actionable
data, helping them with soil screenings, and
reducing their workload in the process by
providing actionable data and assisting in soil
screenings.
There are many advantages that can be realized
through the use of blockchain technology,
including tamper-proof and accurate information
about farms, stocks, as well as fast and secure
transactions and food traceability, to name just a
few. Due to the fact that there is no longer any
need for farmers to rely on documents or files to
record and store important data so that they are
able to perform their daily operations, it is no
longer necessary for them to rely on documents
or files. This must be considered to be one of the
key focus areas of the digital revolution. It must
be one of the key focus areas of the revolution.
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The use of digital technology can also be utilized
by the government in order to improve the
efficiency and effectiveness of current policies
and revolutions through the use of digital
technology. In order to achieve better economic
growth, we need to enhance the efficiency and
effectiveness of policies. In addition, we need to
implement revolutions in order to increase the
effectiveness of policies and policies. One of the
best examples of this is the possibility of
monitoring a wide range of agricultural activities
for free and that too with the help of high-quality
satellite images that are freely available online
and that anyone can use at any time in order to
monitor. Thus, the government may be able to
move towards a more targeted policy in the
future that would pay (or penalize) farmers based
on their performance. We need to move towards
a more targeted policy that will pay farmers based
on what they do to protect the environment in
order to move toward a more targeted policy that
will pay farmers based on what they do to protect
the environment in order to move towards a more
targeted policy that will pay farmers based on
how they protect the environment.
By replacing agricultural subsidies with a direct
cash system, digital Asia will be able to reach a
greater number of underprivileged and needy
farmers. The result of this would be an increase in
agricultural productivity as a result of this, as well
as a reduction in the amount of farmer debt as a
result of this.
Due to the use of mobile money, customers in
rural areas have an incredibly large number of
options at their disposal as a result of the
widespread use of the system. It is now possible
for farmers to receive credit through digital
channels as a result of the development of digital
channels in order to support savings as well as
receive credit. The advantage of this is that it
allows them to avoid the substandard banking
infrastructures and the associated costs that go
along with them. This is one of the ways in which
online banking contributes to the productivity of
farms, as well as to the incomes of farmers.
By facilitating the connection between private
sector suppliers and the market, digital
technologies will eventually be able to support
trade in agricultural and food products by
facilitating the process of connecting suppliers
and buyers. Also, they could also prove to be a
useful tool for governments in terms of
monitoring and enforcing standards more
efficiently as a result of their use. A quality control
system can also ensure a quicker turnaround time
for perishable goods, and they can also improve
the process of moving perishable goods, as well as
provide faster and more efficient borders, and
processes that are necessary for the
transportation of perishable goods.
There are a number of sectors of the economy
that are being transformed by the digital
economy. The agricultural sector has already
begun to reap the benefits of technological
innovations in recent years. Using mobile apps,
farmers are able to get real-time updates on crop
quality, soil, and irrigation, so that they can make
informed decisions about crop management in
the future. Despite the fact that some
organizations and individuals may rely on
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technology to simply execute existing tasks on
their computers, the digital economy is far more
advanced than that. There is more to it than just
using a computer to perform tasks that would
have previously been performed manually. Or, it
could help to use analog devices if they had not
been automated. It is therefore because of this
that the digital economy has highlighted the need
and the opportunity for organizations and
individuals to use technologies to carry out their
tasks in a better, faster, and different fashion than
they did before the arrival of the digital economy.
There has been a great deal of disruption caused
by the digital economy. In the last few years, there
have been many new companies and new ways to
interact with each other. There have, however,
been many companies and industries that have
failed to take advantage of the technologies to
transform their operations.
As a result, they have suffered declining sales,
declining market share or even a complete
collapse as a result. A number of content rental
shops, such as Blockbuster and others, have
closed their doors because they failed to adopt
streaming technologies quickly enough. As a
result, the taxi industry is now struggling to
compete with Uber and Lyft, who are finding it
easier to use their services. As smartphones and
social media platforms replaced film and photo
albums, Kodak, and other camera equipment
companies that did not make the move to digital
formats and online sharing platforms greatly
shrank their product offerings.
Consequently, the term is being used in a variety
of contexts to refer to leveraging technologies in
order to accomplish tasks. This is in order to
engage in activities that were previously not
possible as a result of the advancement of
technology. There are several terms used to
describe the opportunities that exist for existing
entities to improve their capabilities, to do things
in a different way, and to do things in a new way
and to do things in a new way, as well as to
improve
their
performance
by
digital
transformation.
C
ONCLUSION
In conclusion, the digital economy comprises
many things, and digitization and automation are
just two examples of some of those things. In
contrast to the traditional paradigm, this new
paradigm relies on a multitude of advanced
technologies rather than relying on only one
platform of technology. This is what was used in
the traditional paradigm. There are a number of
technologies and platforms that are involved in
this project, such as hyperconnectivity, the
internet of things (IoT), big data, advanced
analytics, wireless networks, mobile devices, and
social media, which are only some of them.
Throughout the digital economy, a combination of
these technologies is being used to rework
traditional exchanges in order to enable new
exchanges through reworking and enabling new
ones through the use of these technologies. Due to
the fact that these technologies are being used,
this is the result. Depending on the application,
we can use these technologies both separately as
well as in conjunction with one another. It is
essential for any organization, whether it is a for-
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profit company, an entity that provides a service
such as a healthcare system, or a nonprofit or
government institution, to have both employees
and leaders who are capable of being innovative
in order to remain competitive in the future. The
result of this is that they will need to take
advantage of today's emerging technologies, such
as the Internet of Things and prescriptive
analytics. This will enable them to better connect
with their existing customers, respond more
quickly, and also be more efficient and effective in
terms of customer service. Besides that, they will
also have to be prepared to explore what is the
best way to utilize or develop emerging
technologies in order to prevent themselves from
being left behind as the digital economy as a
whole continues to develop.
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