No abstract

Current trends in scientific research and the development of information technologies cover more and more areas of business. In these conditions, the findings of scientific-technical revolution and the innovations most important factors for the country’s economic development and crucial to become a competitive state. The gradual establishment and the scope of use of artificial intelligence on the world innovative technology market increases daily. The purpose of this work is to investigate its impact on business based on the experience of the world and particularly, in Georgia. Accordingly, the study discusses the stages and main trends of artificial intelligence development. Depending on the scale of implementation, Georgia’s current trends in job cuts / disappearances along with automation are analysed and future prospects are assessed. The paper discusses the use and increased importance of artificial intelligence 4.0 industry in the context of pandemic restrictions in various sectors of the economy and assessed the role in the post-pandemic period. The paper uses both qualitative and quantitative research methods. Content analysis of the scientific literature, statistical indicators and practical examples of different countries and international organizations is provided. Studies of leading analytical institutions are also included to analyse the current situation and prospects for development.

No abstract

The paper examines the level of competition in banking market using different econometric models and analyzes the impact of efficiency of the banking system on the economic growth of the country. The research discusses to ensure banking competition as a function of the Central Bank. Also, the paper includes some recommendations developed to improve banking competition. Our hypothesis is that the existence of high levels of banking competition and low concentration in the banking market balances the speed of money supply in the economic sector. As a result, the Central Bank's monetary policy will be more effective in achieving its core objectives. Therefore, banking competition contributes to the economic growth of the country. In addition, the monetary policy of the Central Bank concentrates on financial stability, which is one of the fundamental factors in the economic development of a country.

This paper is to determine the optimality of taxation based on a comparative analysis of income taxation in developed and developing countries. In our opinion, the main idea of income tax should be the optimal distribution of tax literacy on the basis of a direct definition of income of taxpayers or progressive taxation. The theoretical and methodological basis of the research is the main provisions of the market economy, classical and modern tax theories, legislative and regulatory acts of foreign countries. The main part of the empirical material is from 2002 to 2017. In the process of analysis of the actual material, together with the general scientific method of research, is used: Comparative and systemic analysis, analogy, statistical data monitoring and other methods. The comparative and systemic analysis will give us an opportunity to reveal and evaluate the ways of perfection. Analogy and comparative analysis is based on variables and features, such as the of income taxes structure, withdrawal rules, rates, tax base. Statistic concept tries to explain the named phenomena by the way of fundamental analyzing of the statistic data received resulted multiple statistic observation. Previous analyses of tax rates tend to support the hypothesis that Developed countries emphasize the importance of fairness, while developing countries are mainly focused on mobilizing budget revenues and lesser consideration of fair taxation principles, since the tax system performs a fiscal function more effectively than developing countries.  Keywords: Tax policy, income tax, tax burden, budget, well-being