ROLE OF DIGITAL TECHNOLOGIES IN TRANSFORMATION OF ECONOMICS, FINANCE AND PUBLIC ADMINISTRATION

A. A. Nalbandyan (), A. V. Savinskiy () and J. T. Finley ()

International Trade and Trade Policy, 2024, vol. 9, issue 4

Abstract: This article examines new technologies that enable government and business to accelerate their digital transformation and even change its scope. Digitalization is inextricably linked to the innovative development model of both private company and state in order not to lag behind in the global technology race. With the rapidly developing digital economy and the increasing use of artificial intelligence, the problem of applying these technologies in public administration is becoming more and more urgent. The development of effective strategies and methods for integrating new technologies into public administration processes is crucial for increasing the efficiency and transparency of government and various economic processes, improving the provision of services to citizens, and ultimately for ensuring sustainable and balanced development of society and the economy. Nevertheless, the application of such technologies in public and private administration brings with it a number of challenges and problems. For example, it is related to ethical and legal issues of using artificial intelligence, the problem of data security and cybersecurity, as well as the need to train qualified specialists capable of working with these technologies. In this context, the relevance of the topic of this article is determined by the need for an in-depth study of the potential for the application of digital transformation technologies in public administration, economics and finance.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2024:id:650

DOI: 10.21686/2410-7395-2023-3-154-168

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