THE ROLE OF INNOVATION IN THE DEVELOPMENT OF THE DIGITAL ECONOMY

Abstract

This article describes the role of innovation in the development of the digital economy, its economic essence, and the importance of digital technologies in the development of the digital economy. Digital economy is an economic activity based on digital technologies, connected with e-business, e-commerce, producing and providing digital goods and services. In this case, payments for economic services and goods are made through electronic money. Innovations are becoming one of the most characteristic features of economic development and are analyzed as a factor accelerating market development. Also, suggestions and recommendations are given that rapid development of entrepreneurship can be achieved through the wide use of innovations in the modern world. The concept of digital economy is a socio-economic system in the form of electronic, internet, network and virtual economy aimed at increasing the efficiency of production of goods and services by means of digital data, which is directly related to the development of information and communication technologies.