THE ROLE OF TECHNOLOGIES IN STIMULATING THE INNOVATIVE DEVELOPMENT OF THE ECONOMY
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The 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 ofartificial intelligence in the economy. The automation ofeconomic processes may involve the use of industrial robots in factories, the automation of warehouse processes, as well as the roboticization ofcertain types ofservices, 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 ofproduction from countries with cheaper labor is observed in many countries. The cost reduction in robot production, especially against the backdrop ofincreasing labor costs, stimulates the automation ofthe economy, often leading to the reshoring of production. However, the regularity ofincreasing the level ofeconomic automation with the reduction ofproduction costs and the introduction ofrobots, and the increase in labor costs, is not absolute in open economic systems with a developed system ofthe international division oflabor. This is because a part ofproduction, mainly low-tech and with low value-added, is outsourced to countries with high labor costs. The described trends in the development ofartificial intelligence in the economy include the increase in efficiency ofproduction processes and the creation ofnew products and services. In the industry:, artificial intelligence systems are used to solve various production tasks, improving the accuracy and speed ofindividual processes, rationalizing resource utilization, operational decisionmaking 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 ofartificial intelligence in the economy. Thus, the state should have legislative norms and mechanisms to regulate the use ofartificial intelligence in business.
