The impact of advanced technology on the corporate economy

Abstract

The article examines the evolution of advanced technologies and its impact on the development of the economy. The processes of mutual influence of advanced industrial technologies and trends in the formation of technological structures attract the attention of economists, engineers, and sociologists. A human being is constantly trying to conceive the algorithms for assessing mutual influence of advanced technologies on technological progress, on global and national economies. Scientific discussion will lead to valuable practical results if scientists speak «the same language», use a unified interpretation of technical, economic, statistical, social terms. It is crucial to place social aspects of technological progress in the forefront since technological development is to solve the problem of the most technological or economical satisfaction of human needs. The purpose of this work is to investigate the existence of mutual relationship between the use of intellectual property and the economic development of Russia’s manufacturing industries. The methodology is based on the principles of the consistency of scientific research, objectivity, causation of phenomena in the economy. The paper applies the methods of economic and statistical analysis and presents a brief overview of scientific publications on the impact of advanced technologies on economic development for the period of 2018-2020. The author puts forward a hypothesis that an empirical analysis of advanced technologies in the production of electronic products will show the degree of patents influence on industry productivity. The findings demonstrate that technologies have a weak influence on productivity both on the economy at large and in manufacturing industry. Therefore, patenting the technologies should be scientifically substantiated and it is imperative to confirm the promise of advanced technologies for sustainable development.

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