The article discusses how companies can use digital technologies to manage their knowledge and create new products in the digital economy. The authors present a scheme that outlines the process of transforming knowledge from ideas to market-ready products. This involves changing knowledge from personal to codified and competence-based to materialized. By following this scheme, companies can effectively manage their knowledge turnover and create innovations. The authors also developed a knowledge management algorithm that includes creating, evaluating, adapting, and testing new knowledge. Implementing this algorithm improves the efficiency of creating intellectual products. The study does not aim to evaluate the effectiveness of innovative projects themselves.