The role of innovative activity in the Socio-Economic development of society

This article discusses the economic nature and importance of innovation in the economy. Analyzes the role of innovation in socio-economic development. The transformation of ideas into goods goes through the stages of fundamental, applied research, design development, marketing, production and marketing. Or a simplified scheme: science-technology-production-consumption. Such features of innovative activity, such as high social and economic potential, individuality of innovations and a high degree of risk, necessitate a comprehensive study of this field of activity. For Uzbekistan, the questions of the transition of the economy to the innovative path are especially relevant today. Financial innovation is the creation of new financial instruments and financial technologies in order to generate profit and reduce the level of risks. Organizational innovation is an innovation associated with the creation or improvement of the organization and management of production, processes, labor resources.

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