RAQAMLI IQTISODIYOTNING BUGUNGI HOLATI, MUAMMO VA YECHIMLAR
Turdimurodova Fotima
Buxoro innovatsiyalar universiteti talabasi
email:fotimaturdimurodova7@gmail.com
Abstract
This article analyzes the emergence of the digital economy, the importance of digital technologies in the global economy and social life, the development of digital platforms, as well as the advantages and disadvantages of the digital economy. Based on the analysis, several proposals have been developed to address existing problems.
Key words:
Global Internet Protokol (IP) trafigi, innovatsion platformalar, onlayn platformalar, raqamli iqtisodiyot, raqamli platformalar, raqamli transformatsiya, ‘‘Raqamli O‘zbekiston – 2030 ‘‘, robototexnika, sun’iy ong, super platformalar, tarmoq effekti, tranzaksion platformalar.
Аннотация.
В данной статье анализируется возникновение цифровой экономики, значение цифровых технологий в мировой экономике и обществе, развитие цифровых платформ, преимущества и недостатки цифровой экономики. На основе анализа разработаны некоторые предложения по устранению существующих проблем.
Ключевые слова:
глобальный интернет-протокол (IP), инновационные платформы, онлайн-платформы, цифровая экономика, цифровые платформы, цифровая трансформация, «Цифровой Узбекистан – 2030», робототехника, искусственный интеллект, «суперплатформы», сетевой эффект, транзакционные платформы.
Abstract.
This article analyzes the emergence of the digital economy, the importance of digital technologies in the world economy and society, the development of digital platforms, the advantages and disadvantages of the digital economy. Based on the analysis, some proposals have been developed to eliminate existing problems.
Keywords:
Global Internet Protocol (IP) traffic, innovative platforms, online platforms, digital economy, digital platforms, digital transformation, ‘‘Digital Uzbekistan – 2030‘‘, robotics, artificial intelligence, super platforms, network effect, transactional platforms.
Introduction
The digital revolution has transformed our lives and societies to an unprecedented extent, creating significant opportunities in the economy while also giving rise to certain challenges. The development of the digital economy is one of the priority areas for leading countries such as the United States, the United Kingdom, Germany, and Japan. In recent years, a new wave of development in business and the social sphere has been driven by a new generation of digital technologies, including artificial intelligence, robotics, and wireless communication technologies.
New technologies can make a substantial contribution to the achievement of the Sustainable Development Goals; however, the expected positive outcomes may not always be fully realized. If we aim to harness the full social and economic potential of digital technologies, it is essential to urgently enhance cooperation among states in order to prevent unintended consequences. In our country as well, special attention has begun to be paid to the development of this sector. In his Address to the Oliy Majlis on December 28, 2018, the President of the Republic, Sh. Mirziyoyev, proposed the implementation of the “Digital Uzbekistan – 2030” program by 2030.
Analysis of the Relevant Literature
The concept of the digital economy was first introduced in the 1990s during the period of economic crisis in Japan by a Japanese professor. First of all, it should be noted that the digital economy consists of a chain of interrelated production and management processes, the integral element of which is the exchange of information carried out through inter-chain digital technologies (human-to-human, machine-to-machine, via cloud systems, and between data centers).
The main objectives of the digital economy program have been highlighted in the literature. The digital economy represents a form of economic activity in which data in digital form serve as the key factor in production and service delivery. By processing large volumes of information and analyzing the results of such processing, more efficient solutions are implemented in various areas, including production, service provision, technologies, devices, storage, and product delivery, compared to traditional systems.
In other words, the digital economy is an activity associated with the development of digital computer technologies, encompassing online service provision, electronic payments, e-commerce, crowdfunding, and other related fields. In our view, the digital economy is an economic activity carried out and managed through digital technologies under conditions of scarce economic resources. The main challenge facing any economic system is resource scarcity, and in the digital economy, primary attention should also be directed toward addressing this issue.
Research Methodology
In the article, comparative–evolutionary analysis is used to study the role of digital platforms in the global economy. Statistical and mathematical methods are applied to analyze the market capitalization of companies occupying higher and lower positions, as well as the development trends of transnational companies based on digital platforms. Statistical grouping and comparison methods are used to assess Internet coverage across regions. In addition, the level of Internet traffic usage in the development of the digital economy is explained on the basis of dynamic analysis.
Analysis and Results
The following advantages of the digital economy are identified; it is estimated that labor productivity may increase by up to 40%:
the digital economy has the capacity to collect, use, and analyze a very large amount of information (digital data);
• the emergence of new forms of employment delivered through online platforms;
the emergence of new forms of employment delivered through online platforms;
changes in the commercial infrastructure for specialized services as a result of digital transformation.
changes in the commercial infrastructure for specialized services as a result of digital transformation.
The export of industrial products is increasingly dependent on ICT products and services;
New technologies, especially artificial intelligence, will inevitably bring significant changes to the labor market, including the disappearance of jobs in certain sectors and the creation of large-scale opportunities in others;
The digital economy also introduces new risks, ranging from cybersecurity breaches to facilitating illegal economic activities and threats to personal privacy. It continues to develop rapidly based on the capacity to collect, utilize, and analyze massive amounts of machine-readable data (digital data) covering almost everything. For example, global Internet Protocol (IP) traffic, as a proxy for data flow, increased from 100 gigabytes (GB) per day in 1992 to 45,000 GB per second in 2017, marking only the early days of a data-driven global economy. By 2022, global IP traffic is projected to reach 150,700 GB per second.
Cost is formed when the provided data is converted into digital intelligence and monetized for commercial use. Digital platforms provide mechanisms for multiple parties to interact and collaborate online. There are transactional and innovation platforms. Transactional platforms are multi-sided markets that support exchanges between different parties through online infrastructure. These are operated by major digital corporations such as Amazon, Alibaba, Facebook, and eBay.
Moreover, digital network-supported platforms, such as Uber, Didi Chuxing, or Airbnb, have become the primary business model for those who adopt them. Innovation platforms, such as operating systems (e.g., Android or Linux) or technology standards, provide an environment for developing applications and software packages, as well as producing code and content.
Over the past decade, numerous digital platforms based on data-driven business models have emerged worldwide, replacing existing industrial sectors. The advantage of these platforms is evident: seven out of the eight leading global companies by market capitalization rely on platform-based business models.
The economic geography of the digital economy does not reflect the traditional North–South divide. It is largely driven by developed and consistently advancing countries, primarily the United States and China. For example, these two countries account for 75% of all patents related to blockchain technologies, 50% of global expenditures on the Internet of Things (IoT), and over 75% of the global market for widely used cloud technologies. Remarkably, they also represent 90% of the market capitalization of the world’s 70 largest digital platforms. Europe’s share is only 4%, while Africa and Latin America account for just 1%.
These are “super platforms” – Microsoft, followed by Apple, Amazon, Google, Facebook, Tencent, and Alibaba – which together constitute two-thirds of the total market value. Consequently, in many areas of digital technological development, the rest of the world, especially Africa and Latin America, lags significantly behind the United States and China. Some of the existing trade frictions reflect the pursuit of global dominance in the latest technologies.
The value of the digital economy, as well as the creation and capture of related value, faces several challenges. First, there is no universally accepted definition of the digital economy.
In the ICT sector, computer services constitute the largest component, accounting for 40% of added value. Secondly, in developing countries, reliable statistics on the main components and scale of this sector are lacking. Although several initiatives have been undertaken to improve the situation, they are insufficient and hinder the rapid development of the digital economy.
The size of the digital economy varies between 4.5% and 15.5% of global GDP. Regarding the added value in information and communication technologies (ICT), the United States and China together account for nearly 40% of global GDP. The share of this sector in GDP is highest in Taiwan (China), Ireland, and Malaysia.
The United States dominates the global computer services industry; its share of industrial added value in this sector exceeds the combined share of the nine largest economies. Among developing countries, India has the largest share in this regard.
Digital platforms are becoming increasingly significant in the global economy. The total value of platform companies with a market capitalization exceeding USD 100 million was estimated at over USD 7 trillion in 2017, a 67% increase compared to 2015. Some global digital platforms have achieved very strong market positions in specific sectors.
Facebook accounts for two-thirds of the global social media market and is considered the leading social media platform in over 90% of the world economy. Amazon holds approximately 40% of global online retail activity, and its Amazon Web Services (AWS) also captures a similar share of the global cloud infrastructure services market. In China, WeChat (owned by Tencent) has over one billion active users, and together with Alipay (Alibaba), its payment solution has nearly dominated the entire Chinese mobile payment market. Additionally, Alibaba accounts for approximately 60% of China’s e-commerce market.
Alphabet (Google) and Microsoft have invested in telecommunications equipment by acquiring Motorola and Nokia, respectively. Large platforms have also made major acquisitions in retail, advertising, marketing, and commercial real estate sectors. The functioning of the digital economy depends on coordinated policies across many countries.
Data privacy and data security require particular attention. Laws and regulations are necessary to combat the theft of personal data, establish rules on how personal information is collected, used, transferred, or deleted, and ensure that business models based on the digital economy generate societal benefits. The European Union’s General Data Protection Regulation (GDPR), which came into effect in May 2018, represents a globally significant, comprehensive approach to data protection.
Digitalization affects different countries in varying ways, and individual governments require policy frameworks to regulate the digital economy in order to achieve the objectives of diverse national legal and policy agendas.
Conclusion and Recommendations
Digital transformation has become increasingly important today, particularly in the context of the ongoing pandemic. Recognizing the role of the digital economy in national economies and its significance for global economic development, it is advisable to implement the following measures:
Study and adopt more comprehensive support mechanisms from countries that are advancing in the digital economy;
Establish the regulatory and legal framework for the digital economy in our country;
Develop the necessary infrastructure for the digital economy, prioritizing the connection of regions with limited or no Internet access;
Improve the system for training specialists and professionals required for the digital economy;
Promote joint research initiatives among governments, civil society, academia, the scientific community, and the technology sector to identify innovative solutions;
Ensure the rational use of new technologies to redefine digital development strategies, anticipate future trends in globalization, strengthen partnerships, and enhance intellectual leadership.
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Fotima Turdimurodova is a student at Bukhara Innovations University. Her main academic interests include economics, particularly digital economy and market economy. In her article titled “Market Economy in the Digital Economy,” the author comprehensively examines current issues and existing challenges in the field. She is currently engaged in scientific research in the field of economics.