ECONOMIC SUSTAINABILITY IN THE DIGITAL AGE: THE ROLE OF INFORMATION TECHNOLOGY
Authors:   FSBEI HE “Chechen State University named after. A. A. Kadyrov, Grozny, Russian Federation, Eskerkhanova Luiza T. , Natalson Alexander V. ,   Federal State Budgetary Educational Institution of Higher Education “Kazan State Energy University”, Kazan, Matasheva Kharzan P. ,   Grozny State Petroleum Technical University named after. Academician M. D. Millionshchikova, Russia, Grozny
Published: November 2023

The article explores the important role of information technology in ensuring economic sustainability in the context of digitalization of society. The article also examines key aspects of the impact of information technology on economic stability and offers recommendations for government and business structures to optimize the use of IT solutions, examines the challenges and opportunities associated with digital transformation, and what strategies and solutions can help organizations and countries achieve economic sustainability in the digital age. The relevance of researching the role of information technology in ensuring economic stability in the digital age is evident for the following reasons: 1. The modern economy is undergoing rapid and profound changes driven by the digital revolution. E-commerce, digital payments, cloud technologies, and blockchain are altering business models and economic relationships. Investigating the role of information technology in this context allows us to understand how to maintain economic stability amidst constant changes. 2. As reliance on information technology grows, so do cyber threats. Cybersecurity attacks and data breaches can lead to serious economic consequences. Understanding how information technology can be utilized to protect the economy from these threats becomes critically important. Thus, researching the role of information technology in ensuring economic stability is pertinent in light of the economic transformation and growing challenges related to cybersecurity and data management. The aim of this research is to analyze and identify the impact of information technology on economic stability in the digital age and to develop strategies and recommendations for ensuring and enhancing economic stability in this context. Research Objectives: • analyze current trends in information technology development and their impact on digital transformation of the economy; • investigate the concept of economic sustainability, identify its key components, and examine the mechanisms through which information technology influences the level of sustainability; • assess the consequences of a lack of sustainability in the digital economy, including risks to the stability of financial markets and business processes; • conduct an analysis of specific examples demonstrating the impact of information technology on economic sustainability, including crisis scenarios and successful adaptation cases; • develop strategies and recommendations for ensuring economic sustainability in the context of digital transformation, taking into account the role of information technology. Scope of Research Application: 1. The research findings can be utilized for the development of effective economic policies, including strategies for digital transformation and the regulation of information technologies. 2. Entrepreneurs and businesses can apply the acquired knowledge to optimize their development strategies, adapt to digital changes, and enhance competitiveness. 3. Educational institutions can use the results to design courses and programs aimed at preparing professionals capable of effectively managing information technologies in business and government organizations. 4. Jrganizations and governments can implement the research recommendations and findings to strengthen cybersecurity and protect their information resources.