FEATURES OF THE IMPLEMENTATION OF INNOVATIONS IN SMALL BUSINESS IN THE CONDITIONS OF DIGITALIZATION

Keywords: innovation, small business, innovative activity, artificial intelligence, digitalization

Abstract

The article is devoted to the current problem of introducing innovations in small business in the conditions of digitalization. The purpose of the article is to develop proposals for the use of modern innovative tools in small business based on the identification of opportunities and advantages of innovation implementation. The research was conducted using general scientific methods of cognition: system analysis, synthesis, generalization, deduction, abstraction, concretization, formalization. According to the results of the research, the approaches to the interpretation of the term "innovation" by various authors were summarized, which made it possible to form the author's definition of the category "innovation in small business", which is proposed to be interpreted as creative, creative approaches to the implementation of changes in business processes, through new ideas, technologies, products, methods, mechanisms, tools used in production and management processes. The signs by which a small business can be considered innovatively active have been determined. Possibilities and advantages of introducing innovations in small business are considered, the main ones of which are increasing competitiveness and efficiency of operations. The article systematizes and summarizes the problems of introducing innovations in small business, and suggests directions for state support for the innovative activity of small businesses. It has been established that it is possible to implement product, technological, managerial, economic, and social innovations in a small business. Customization has been found to be of particular importance to small businesses, as it allows you to create a unique product or service that meets the specific needs and requirements of customers. The special role of digitalization in the activation of innovative activity of small business is determined, in particular, the role of artificial intelligence in the growth of its innovative activity is considered. It has been established that the use of artificial intelligence is of particular importance in the marketing activities of small businesses, primarily in the promotion of goods and services to the market. The possibilities of using artificial intelligence through the use of such innovative tools as: the Internet of Things (IoT), blockchain technologies, augmented reality (AR), virtual reality (VR), drones, 3D printing, Big Data and others are considered. It is proposed to direct further scientific research to the development of mechanisms for introducing modern digital innovations into the practical activities of small businesses

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Brodny J., Tutak M. The level of digitization of small, medium and large enterprises in the central and eastern european countries and its relationship with economic parameters. Journal of Open Innovation: Technology, Market, and Complexity. 2022, vol. 8, no. 3. Article number 113. URL: https://www.mdpi.com/2199-8531/8/3/113 (accessed January 11, 2024)

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Published
2024-03-26
How to Cite
Hrynko, T., Hviniashvili, T., & Timar, V. (2024). FEATURES OF THE IMPLEMENTATION OF INNOVATIONS IN SMALL BUSINESS IN THE CONDITIONS OF DIGITALIZATION. Economy and Society, (61). https://doi.org/10.32782/2524-0072/2024-61-20
Section
ENTREPRENEURSHIP, TRADE AND STOCK EXCHANGE ACTIVITY