CC BY
3
УДК 336
Ubaydullayev T. teacher
department economics Namangan Engineering Construction Institute
Uzbekistan, Namangan
THE ROLE OF INNOVATION IN THE MODERN ECONOMY
Annotation: This article discusses the role of innovation in the modern economy.
Key words: economy, innovation, market, development, demand, Internet, communication.
Currently, the world does not stand still, it is constantly evolving. Today, modern man can no longer imagine his life without a telephone, computer, car, household appliances, etc., that is, without innovations that have already become familiar to us. Most scientists believe that innovation is the main driver of economic and social development. Innovation has led the world community to a new, higher stage of development.
There are many points of view on the definition of the term "innovation". Some believe that innovation is the end result of innovation, which is presented in the form of a new product, others - that this is some new technological process used in practice. Innovation has a huge impact on the economy. It is even impossible to cover the full breadth of their application. But the most basic points of influence can be distinguished. Firstly, innovations affect the quality of products, i.e., completely new or improved products appear that are able to most fully satisfy human needs. One more point of influence follows from here - on human needs. Secondly, they contribute to economic growth, that is, new sectors of the economy, a single market (for example, the Internet) are created. Today, people can buy the goods they need from anywhere in the world through an online store. Thirdly, the share of competent specialists is increasing. Suppose a new machine appears at a factory. To work on it, further training is necessary. Thus, the quality of the frames is improved.
The next point is the impact of innovation on people's living standards. They improve the living conditions of a person, for example, household appliances. Or the Internet, which helps broaden one's horizons, obtain new useful information, and expand the circle of communication. Innovation also helps lower production costs. New technologies are invented that can reduce the consumption of electricity, water, etc. Innovation drives profit. Higher quality products are created, the number of products released over the same amount of time is increasing. Innovation affects the competitiveness of an individual or organization. J. A. Hobson suggested that the real competitive advantage lies in the ability to find new markets, produce new goods and invent new ways of manufacturing
Экономика и социум" №5(72) 2020
www.iupr.ru
165
goods. If a company has an innovation that is in demand in the market, then this will be its competitive advantage until new ones with great advantages are created.
At the present stage of development of the Uzbek economy, huge innovations are required that cover all sectors and are of a regular nature. For example, these may be the following innovations: innovative solutions in the field of creation and use of electronic resources (Internet portals, electronic libraries, etc.); ensuring information security and information security, regulation of rights and obligations by Internet users; analysis and decision-making in the field of development of a unified information environment; the use of information technology in quality management in the transition to a knowledge economy.
Positive changes are taking place in the structure of the information technology market. The software and services manufacturing sector is growing faster than the hardware sales sector. Demand is growing from not only large, but also medium-sized Russian companies. An important indicator is also an indicator of the growth in the number of Internet users. It clearly demonstrates the degree of literacy and activity of the population in the field of information technology and determines the dynamics of the country's socio-economic progress. The number of Uzbek Internet users is increasing year by year. In the future, there should not be a single settlement in Uzbekistan where there is no telephone, where there is no access to the Internet, access to information resources. Many elements of public policy, including in the budget and tax spheres, are not yet fully tuned to stimulate the country's innovative development. The formation of conditions for modernizing the economy and changing the model of economic growth has not been completed. The role of innovation in the economy is huge. In the long term, without innovative activity, further economic growth along an intensive development path is impossible.
Экономнка h соцнумм №5(72) 2020
www.iupr.ru
166
