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PROSPECTS FOR DEVELOPMENT OF THE DIGITAL ECONOMY IN THE
SERVICE SECTOR IN CONDITIONS OF ECONOMIC GROWTH
Kurbanova Maftuna Lazizovna
Tashkent University of Information
technologies named after Muhammad al-Kharezmi,
senior lecturer of the department "Management and marketing"
The information economy is an economy aimed at minimizing the use of
matter and energy in the production, distribution and consumption of goods and
services through the efficient use of information resources. This definition
specifies and complements the more general definition of the economy as an
economic system that ensures the satisfaction of the needs of people and society
by creating the necessary goods of life in conditions of limited resources [1].
Digitalization of the economy is an activity related to digital technologies that
contributes to every organization, since it is this process that contributes to the
promotion of an enterprise in the services market, so it is very important to pay
special attention to this. The service sector, like other areas where complex
economic processes take place, is closely related to digitalization. Digitalization of
the service sector is an indicator of the degree of development of the socio-
economic complex of an organization and reflects the totality of existing
“weaknesses”, as well as problems. [2]. The rapid development of digital
technologies over the past ten years has radically changed the nature of
productive forces and market relations in the world, offering completely different
forms and paths of development based on a combination of digital capabilities and
resources. To date, a number of digital and information technologies have been
created that provide for the transition to a new stage in the development of
productive forces (Industry 4.0, a new level of automation of all processes, etc.)
[3].
Thus, one of the main global trends in the development of the modern
economy is the phenomenal expansion of the service sector, which is significantly
ahead of industry and agriculture in terms of contribution to GDP, leads in the
number of new jobs and the employment rate, and affects the development
indicators of the world economy. The development of the service sector is typical
for all countries, but in each of them it occurs differently, which depends on
internal prerequisites and the existing level of economic development of the state.
The achieved level of development of digital technologies had the most
significant impact on the transformation of the service sector, led to unlimited
business scaling and an exponential decrease in the value of creating demand and
prices for services for consumers (transport, education, healthcare, tourism, etc.),
as well as in the sphere of interaction between market participants, government
services and security services. Over the past decades, material production has
been actively growing, the consumption of goods has been stimulated, which has
led to an excess of supply over demand and, as a result, significant inefficiency of
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the world economy: the psychological obsolescence of objects today occurs to a
large extent earlier than the physical one [4].
Digitalization carries great economic potential that can be realized in the
coming years. A number of technologies will become the main source of overall
economic growth. As MGI research shows [5], by 2030, global GDP will increase
by $13 trillion due to digital technologies, which open up great opportunities for
business; income from their use is reinvested in the economy.
The way firms use digital technologies clearly demonstrates the possible
benefits of digitalization. Industries with a high level of digitalization show the
greatest productivity growth. Among the industries with a high level of
digitalization, one can highlight the service sector, which includes direct
communication with consumers and ensures faster capital turnover. In developed
countries, sectors with a high level of digitalization include media and financial
services organizations, while sectors with a low degree of digitalization include
pharmaceuticals and large manufacturing industries.
However, despite advances in new technologies, at the macroeconomic level,
labor productivity growth in developed countries was insignificant, declining by
an average of 0.5% between 2010 and 2014 (for more details, see [6, 7]). Studies
conducted by foreign scientists indicate that the effect of digitalization is likely to
appear only when companies begin to massively introduce digital technologies
into work processes. On average, the process of full diffusion of new digital
technologies throughout the world can continue until 2045 [8
–
9].
As practice shows, in various countries many companies are beginning to
introduce digital technologies into production, but an analysis of various practices
of their application suggests that this process remains complex and slow.
Table 1
Level of digital technology use by industry in the US,
EU countries and China
Industry
Organizations
using digital
technologies,
%
Factors that support industry
development in the context of
digitalization
cash
flow
automation
and supply
chain
digital
workforce
Pharmaceuticals
13,4
+
+
+
Business Services
17,0
+
+
Healthcare
24,3
+
mass media
25,0
+
Consumer goods
28,5
+
Financial services
29,7
+
+
Telecommunications services
31,0
+
+
Retail
46,0
+
Tourist services
51,0
+
Average level by industry
25,0
Source:
McKinsey data.
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The experience of companies in introducing digital technologies into
production in the USA, EU and China shows that in these countries the level of
digitalization is still not high. On average, the level of digitalization is only about
25% of the total potential of the sector (Table 1).
The results of a survey of companies on the degree of use of digital
technologies in production indicate that organizations in the service sector
(tourism, financial services) and trade have the highest level of digitalization, and
the pharmaceutical industry has the lowest level. The remaining industries have
an average level of digitalization
–
25%. In addition, the survey made it possible
to identify factors hindering the development of the industry in the context of
digitalization, namely: a low percentage of sales made using digital technologies,
a low percentage of automated operations, a low percentage of the use of digital
technologies when interacting in supply chains [10].
Global experience suggests that in the most digitally developed sectors of the
economy, the “winner takes all” principle works. Today, the top 10% of
companies
with the highest digital revenues account for up to 80% of the revenue generated
in their sector, ranging from 60% in professional services to over 90% in media
and telecommunications (McKinsey data). Digitalization processes have received
impetus for development in recent years. In the European Union, private
companies have achieved significant success, the labor market is gradually
changing, the state is implementing large infrastructure projects, and the Internet,
mobile and broadband communications are being widely introduced (Table 2).
Table 2
Comparative characteristics of the level of development of
digital services in EU countries in 2021, %.
Indicator
EU Country
Share of population shopping online
75
Share of organizations using CRM systems
38
Share of e-commerce in total retail trade
14,8
Share of the population receiving government services online
56
Share of organizations with a website
75
Mobile Internet penetration level
68
Internet penetration level
88
Source:
[12]
A similar situation is observed in terms of the share of people who use the
Internet every day: Russia (66%), Japan (81%), South Korea (81%) and the UK
(69%), but overall it is at the level of developed countries. countries (Table 3).
The achieved level of development of digital technologies has had the most
significant impact on the transformation of the service sector, leading to unlimited
business scaling and an exponential decrease in the value of creating demand and
prices for services for consumers. An analysis of the dynamics and factors of
development of electronic services in the European Union showed that various
market participants have a need to study the boundaries, level of penetration and
volumes of the digital economy, therefore relevant studies are carried out by
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independent rating and consulting agencies, individual service organizations,
scientific and educational institutions, national industry regulators and the media.
Table 3
Average number of Internet-connected devices and share of people
using the Internet daily in selected countries
Country
Average number of devices
connected to the Internet, units.
Share of people using Internet
access daily, %
2019
2020
2021
2019
2020
2021
Great Britain
3,0
3,1
3,3
63
70
69
USA
2,9
3,1
3,2
66
63
64
Russia
2,1
2,4
2,8
51
66
66
Germany
2,2
2,4
2,6
59
62
64
South Korea
2,8
2,3
2,5
71
73
81
France
2,3
2,2
2,5
60
60
66
Japan
1,8
2,3
2,4
74
81
81
China
1,4
1,9
1,9
44
60
61
Source:
[12]
However, the data obtained are not only not consolidated, but are often
incomparable due to methodological differences, discrepancies in approaches to
determining the population sample being surveyed, and the lack of uniform
terminology. Sometimes the objectives of the study and the choice of indicators
or areas of assessment remain unclear.
Thus, the task of developing a methodological approach to identifying
electronic services as an object of civil circulation, as well as their classification,
comes to the fore. This will make it possible to determine the actual indicators of
the Internet economy, its share in the national economy, to develop scientific and
practical recommendations for the integration of the material and virtual
business environment, the formation of new types of strategies and approaches
to the study of markets.
Informatization has a great impact on economic development. The
relationship between informatization and the economy is carried out through
business communications (business communications), which unite individual
local structures with each other. In addition, this is the interaction of subjects of
the information system in the process of solving innovative problems. The
information sector of the economy is being transformed into a new technological
structure. At the same time, continuous technological progress characteristic of
the digital economy confronts individuals with the need to develop their creative
potential throughout their lives. In this regard, they talk about the transition of
civilization to a new stage of development, called the “information society.”
At the same time, in the modern information society, the sense of reality and
sustainability is lost, since there is a desire for innovation. This feeling is
generated by the constant changes that characterize the leitmotif of the modern
era. These changes in society are not external, but of an essential nature, which is
manifested in the fact that it changes both the dynamics of social processes and
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the nature of social and economic reality. Informatization of modern society
determines the essence, character, dynamics and prospects for the development
of social processes as a whole. The information society sets the special nature of
social connections
–
communication that unfolds through telecommunication
technologies [13].
Information and telecommunication technologies have not only generated a
variety of social effects, but also led to the emergence of a new trend of social
thought, known as the theory of the information society. To date, the basic terms
of the information society and its main characteristics have been formulated.
In such a society, the dominant role belongs to professionals, and special
theoretical knowledge acquires a fundamentally new meaning. The dominant
elements of social development are knowledge and technology, which determine
the basis of socio-economic life. In a post-industrial society, the information
sector of the economy predominates, which includes all specialists involved in the
production, processing and dissemination of information, as well as those who
create and maintain the functioning of the information infrastructure.
Information and knowledge, rather than capital and labor, become the main
variables shaping post-industrial society. Information controls the behavior of
producers and consumers. [14]
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