Introduction of Artificial Intelligence into Public Finance and Business Management as a Factor of Sustainable Development of Territories

The subject of the research is the application of artificial intelligence (AI) in public administration and the business environment in Russia in the context of sustainable development of territories. The purpose of the work is to identify the areas of use of AI in the activities of government agencies, commercial and non — profit organizations to identify the areas of the most frequent use of AI in order to establish the degree of implementation of tasks and achieve targets. The analysis of the current state and effectiveness of the implementation of AI tools in public financial management and the business environment in Russia is carried out. In public finance management, an increase in the indicator of intellectual maturity in the regions has been revealed in recent years. It is determined that the relationship between the use of AI and the sustainable development of territories depends on the results of the implementation of national projects and business development. Among the problems of implementing AI, limited financial resources, a lack of personnel with the necessary competencies, and the lack of generally recognized methods for assessing the economic and/or social effects associated with the implementation of AI solutions are highlighted. It is concluded that coordinated actions by government agencies, the scientific community and business are able to ensure the technological independence of the country and achieve the strategic goals set by the National Strategy for the Development of Artificial Intelligence.

1. Zub A.T., Petrova K.S.Artificial intelligence in corporate governance: Opportunities and boundaries of application. Gosudarstvennoe upravlenie. Elektronnyi vestnik = Public Administration. E-journal. 2022;94:173–187. (In Russ.). DOI:10.24412/2070–1381–2022–94–173–187

2. Gavrilova E.N.Artificial intelligence in the financial sector: Evolution, capabilities and prospects of use. Vestnik Moskovskogo universiteta imeni S. Yu. Vitte. Seriya 1: Ekonomika i upravlenie. = Economics and Management. 2024;50(3):23–30. (In Russ.). DOI: 10.21777/2587–554X 2024–3–23–30

3. Kashevarova N.A.Analysis of current practice of applying artificial intelligence technology in the financial sector and its impact on the transformation of the financial ecosystem. Kreativnaya ekonomika = Creative Economy. 2020;14(8):1565–1580. (In Russ.). DOI: 10.18334/ce.14.8.110708

4. Karasev N.A., Klimachev T.D. Theoretical aspects of researching problems and prospects of applying artificial intelligence technologies in management of Russian companies. Kreativnaya ekonomika = Creative Economy. 2024;18(2):337–356. (In Russ.). DOI: 10.18334/ce.18.2.120490

5. Adamova K.R. Digitalization as the main factor of transformation of financial markets. Finansy, dengi, investitsii = Finance, money, investments. 2024;3(91):11–22. (In Russ.).

6. Rudakova O.S. Digitalization in insurance activity. Finansy, dengi, investitsii = Finance, money, investments. 2024;3(91):29–36. (In Russ.).

7. Brynjolfsson E., Jin W., McElheran K. The power of prediction: Predictive analytics, workplace compliments, and business performance. Business Economics. 2021;56:217–239. DOI: 10.1057/s11369–021–00224–5

8. Autor D.Applying AI to rebuild middle class jobs. NBER Working Papers. 2024;(32140):1–22. DOI: 10.3386/w32140

9. Kazantseva S. Yu. Practice of applying and prospects for development of artificial intelligence and robotics technologies in the field of financial control. Voprosy innovatsionnoi ekonomiki = Russian journal of innovation economics. 2021;11(2):553–564. (In Russ.). DOI: 10.18334/vinec.11.2.112073

10. Grishko N.V.Audit of the efficiency of budget funds use in the context of digitalization. In: Directions for improving the efficiency of managerial activities of state authorities and local governments: Abstracts of the VI International scientific and practical conference (Alchevsk, 26 Jan. 2024). Alchevsk: DSTU; 2024:153–155. (In Russ.).

11. FevroninA.B.Automation of the budget process: a step towards effective management of public finances. Upravlenie gorodom: teoriya i praktika. 2024;3(53):13–16. (In Russ.).

12. Aguzumtsyan R.V., Velikanova (Gerasimova) A.S., Polshchikov K.A., Igityan E.V., Likhosherstov R.V.Application of intellectual technologies of natural language processing and virtual reality means to support decision-making when selecting project executors. Ekonomica. Informatika = Economics. Information Technologies. 2021;48(2):392– 404. (In Russ.). DOI: 10.52575/2687–0932–2021–48–2–392–404

13. Korotishеva O.S., Petrova E.Yu. Budgetary system in the era of artificial intelligence development: Opportunities and threats. Ekonomika i paradigma novogo vremeni. 2024;2(23):45–50. (In Russ.)