TIME DESCRIPTION OF ECONOMIC REFORMS

Digital technologies enable companies to transform existing product or service models into intelligent models and apply data-driven strategies to become more competitive. The emergence and application of digital technologies enhances the innovative potential of enterprises. In a world where companies operate in a highly competitive environment, they are under increasing pressure to make the most of their available resources to innovate and improve their performance. Therefore, companies that innovate using digital technologies can improve their productivity and become innovative companies. The use of digital technologies such as artificial intelligence, cloud computing, data mining, and the Internet of Things in companies leads to significant business achievements such as improved customer service and engagement, simplified operations, and business innovation. Digital technologies, including information and communication technologies, have enabled some small businesses to cope with some of their liabilities. In addition, due to the 2020 COVID-19 epidemic, which has had a significant impact on global behavior, the simultaneous development of several key digital technologies in the ICT field has developed at an unprecedented pace, affecting all sectors and industries. The development of digital technologies such as artificial intelligence, the Internet of Things, blockchain, and fifth-generation wireless networks (5G) has created a viable ecosystem for identifying and exploiting new opportunities in business and industry. Digital technologies and platforms are transforming existing enterprises and industries. New business models, new products, new forms of innovation, and enterprise transformation to adapt business operations and strategies to the digital era are some of the impacts of digital technologies on business and entrepreneurship. The purpose of this paper is to analyze the current methodology of digital transformation based on artificial intelligence, while revealing the flexibility and empowerment of human capabilities. The object of the study is the accounting methodology used in commercial banks for accounting, classification and presentation of digitalization in the field of artificial intelligence development. The methodological basis of the study is based on the Laws and regulatory decrees on the development of science and technology. The main hypothesis of the study is that the current methodology reflects a targeted improvement in significantly increasing the transparency and quality of digital decision-making. Presentation of the material. The main material of the article is an analysis of the methodology based on the regulatory framework in force in Azerbaijan. It emphasizes the role of artificial intelligence in the structure of the use of digitalization, and also offers recommendations for improving the digital economy to ensure an accurate reflection of the economy today. The originality of the article lies in the assessment of the existing methodology of the digital economy, identifying the factors influencing decision-making to strengthen the implementation of the digital economy. The practical significance of the study lies in the proposed facts on compliance with regulatory requirements and making more informed decisions both within and outside the country. Conclusions. The study concludes that the current methodology leads to transparency and accuracy in reflecting the widespread implementation of digitalization. These methodological improvements are expected to facilitate faster adoption of artificial intelligence.

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