TECHNOLOGICAL AND INNOVATION GROWTH TRENDS IN THE ECONOMY
Keywords:
Innovative economy, technological trends, digital transformation, artificial intelligence, economic growth, production productivity, digital ecosystem, transaction costs.Abstract
This article systematically investigates the modern trends of technological and innovation growth under the conditions of the global economy's digital transformation. In a phase where the efficiency of traditional resources in ensuring economic growth is declining, the integration of artificial intelligence, Big Data, and automated digital technologies into economic sectors is analyzed as a primary driver of macroeconomic stability. Throughout the study, the role of technological progress in increasing production productivity and reducing transaction costs is comparatively examined, while the negative consequences of the "digital divide" are highlighted. The paper develops scientific and practical proposals as well as recommendations for transitioning the economies of developing nations into an innovative model and accelerating the pace of technological growth.
References
1. WIPO (2025). Global Innovation Index 2025: Innovation in the Face of Digital Transformation. World Intellectual Property Organization. Geneva.
2. PwC Research (2024). Sizing the prize: What’s the real value of AI for your business and how can you capitalise? PricewaterhouseCoopers Global Report.
3. World Bank (2025). Research and development expenditure (% of GDP). World Bank Open Data. Retreived from World Bank Database.
4. Schumpeter, J. A. (1942). Capitalism, Socialism and Democracy. Harper & Brothers. New York.
5. Solow, R. M. (1957). Technical Change and the Aggregate Production Function. The Review of Economics and Statistics, 39(3), 312-320.
6. Romer, P. M. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5), S71-S102.
7. Schwab, K. (2017). The Fourth Industrial Revolution. Portfolio Penguin. London.





