scholarly journals Breakthrough Innovations of Industry 4.0 as a Factor of Economic Growth

2020 ◽  
Author(s):  
Ekaterina N. Bykovskaya ◽  
Yuliya N. Kafiyatullina ◽  
Gocha P. Kharchilava
Keyword(s):  
Economic Growth ◽  
Industry 4.0

Emerging Industrial Revolution: Symbiosis of Industry 4.0 and Circular Economy: The Role of Universities

2020 ◽  
Vol 25 (3) ◽  
pp. 505-525 ◽  
Author(s):  
Seeram Ramakrishna ◽  
Alfred Ngowi ◽  
Henk De Jager ◽  
Bankole O. Awuzie
Keyword(s):  
Economic Growth ◽  
Circular Economy ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Technologies ◽  
Production Systems ◽  
Fourth Industrial Revolution ◽  
New Jobs

Growing consumerism and population worldwide raises concerns about society’s sustainability aspirations. This has led to calls for concerted efforts to shift from the linear economy to a circular economy (CE), which are gaining momentum globally. CE approaches lead to a zero-waste scenario of economic growth and sustainable development. These approaches are based on semi-scientific and empirical concepts with technologies enabling 3Rs (reduce, reuse, recycle) and 6Rs (reuse, recycle, redesign, remanufacture, reduce, recover). Studies estimate that the transition to a CE would save the world in excess of a trillion dollars annually while creating new jobs, business opportunities and economic growth. The emerging industrial revolution will enhance the symbiotic pursuit of new technologies and CE to transform extant production systems and business models for sustainability. This article examines the trends, availability and readiness of fourth industrial revolution (4IR or industry 4.0) technologies (for example, Internet of Things [IoT], artificial intelligence [AI] and nanotechnology) to support and promote CE transitions within the higher education institutional context. Furthermore, it elucidates the role of universities as living laboratories for experimenting the utility of industry 4.0 technologies in driving the shift towards CE futures. The article concludes that universities should play a pivotal role in engendering CE transitions.

scholarly journals Digitalization of Business Processes of Enterprises of the Ecosystem of Industry 4.0: Virtual-Real Aspect of Economic Growth Reserves

2021 ◽  
Vol 18 ◽  
pp. 569-580
Author(s):  
Kateryna Kraus ◽  
Nataliia Kraus ◽  
Oleksandr Manzhura
Keyword(s):  
Economic Growth ◽  
Virtual Reality ◽  
Data Storage ◽  
Industry 4.0 ◽  
Large Scale ◽  
Business Processes ◽  
Digital Transformation ◽  
Cloud Services ◽  
Scale Production ◽  
Cloud Platform

The purpose of the research is to present the features of digitization of business processes in enterprises as a foundation on which the gradual formation of Industry 4.0 and the search for economic growth in new virtual reality, which has every chance to be a decisive step in implementing digital strategy for Ukraine and development of the innovation ecosystem. Key problems that arise during the digitalization of business processes in enterprises are presented, among which are: the historical orientation of production to mass, “running” sizes and large batches; large-scale production load; the complexity of cooperation and logic between production sites. It is determined that high-quality and effective tools of innovation-digital transformation in the conditions of virtual reality should include: a single system of on-line order management for all enterprises (application registration – technical expertise – planning – performance control – shipment); Smart Factory, Predictive Maintenance, IIoT, CRM, SCM. Features of digital transformation in the part of formation of enterprises of the ecosystem of Industry 4.0 are revealed. The capabilities and benefits of using Azure cloud platform in enterprises, which includes more than 200 products and cloud services, are analyzed. Azure is said to support open source technologies, so businesses have the ability to use tools and technologies they prefer and are more useful. After conducting a thorough analysis of the acceleration of deep digitalization of business processes by enterprises, authors proposed to put into practice Aruba solution for tracking contacts in the fight against COVID-19. Aruba technology helps locate, allowing you to implement flexible solutions based on Aruba Partner Ecosystem using a USB interface. It is proposed to use SYNTEGRA – a data integration service that provides interactive analytics and provides data models and dashboards in order to accelerate the modernization of data storage and management, optimize reporting in the company and obtain real-time analytics. The possibilities of using Azure cloud platform during the digitization of business processes of enterprises of the ecosystem of Industry 4.0 in the conditions of virtual reality are determined.

scholarly journals The effects of air transportation, energy, ICT and FDI on economic growth in the industry 4.0 era: Evidence from the United States

2020 ◽  
Vol 160 ◽  
pp. 120297
Author(s):  
Festus Fatai Adedoyin ◽  
Festus Victor Bekun ◽  
Oana M. Driha ◽  
Daniel Balsalobre-Lorente
Keyword(s):  
United States ◽  
Economic Growth ◽  
Industry 4.0 ◽  
Air Transportation ◽  
The United States ◽  
Transportation Energy

Economic Growth vs. Ecological Safety: Financial Consequences of the Transition to Industry 4.0 for Russia’s Regions

Industry 4.0 ◽  
2021 ◽  
pp. 405-412
Author(s):  
Galina N. Semenova ◽  
Mariana H. Barcho ◽  
Marina N. Rudenko ◽  
Olga A. Ageeva
Keyword(s):  
Economic Growth ◽  
Industry 4.0 ◽  
Ecological Safety ◽  
Financial Consequences

scholarly journals Fostering economic growth, social inclusion & sustainability in Industry 4.0: a systemic approach

2020 ◽  
Vol 51 ◽  
pp. 1755-1762
Author(s):  
L. Mendoza-del Villar ◽  
E. Oliva-Lopez ◽  
O. Luis-Pineda ◽  
A. Benešová ◽  
J. Tupa ◽  
...  
Keyword(s):  
Economic Growth ◽  
Industry 4.0 ◽  
Social Inclusion ◽  
Systemic Approach

scholarly journals MODERN TECHNOLOGIES AS A DETERMINANT OF SUSTAINABLE ECONOMIC GROWTH AND DEVELOPMENT OF SMALL OPEN ECONOMIES

2021 ◽  
Vol 19 (34) ◽  
Author(s):  
Radomir Božić
Keyword(s):  
Economic Growth ◽  
Growth And Development ◽  
Industry 4.0 ◽  
Business Processes ◽  
Open Economies ◽  
Developed Countries ◽  
Small Open Economies ◽  
Negative Consequences ◽  
Western Balkans ◽  
Economic Growth And Development

The modern age is characterized by strong development and application of information and communication tech- nologies (ICT) and Industry 4.0, which determine sig- nificant changes in the economy and society as a whole, and especially affect production and business processes, economic growth and development, productivity, busi- ness models, required qualifications and workers’ skills, the education system, as well as people’s daily lives. Thanks to that, developed countries are already achiev- ing significant effects in terms of efficiency, productiv- ity, flexibility, gross domestic product (GDP) and living standards growth, and there are opportunities for small open economies to create their own approaches to accel- erate growth and convergence with developed countries. Otherwise, the negative consequences known as digital sharing are also possible. The aim of this paper is to present, based on relevant lit- erature and experiences of individual countries, the po- tentials, challenges and possible responses of economic and business policy makers aimed at the application of ICT and Industry 4.0 in small open economies, such as the Western Balkans. The paper is structured as follows: Introductory remarks - elaboration of the theoretical basis, characteristics and implications of ICT and Industry 4.0 on the economy and society as a whole; Methodology - review of rel- evant current literature; Results - presentation of basic potentials, challenges and possible responses of small open economies in the function of accelerating econom- ic growth; and Discussion - concluding remarks and rec- ommendations for possible responses.

scholarly journals Industry 4.0 as the Driving Force of SME Internationalisation: A Case of Lithuania

2019 ◽  
Vol 33 (1) ◽  
pp. 192-206 ◽  
Author(s):  
Kristina Kovaitė ◽  
Paulius Šūmakaris ◽  
Jelena Stankevičienė ◽  
Renata Korsakienė
Keyword(s):  
Economic Growth ◽  
Driving Force ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Scientific Literature ◽  
Geographical Location ◽  
International Markets ◽  
Value Chains ◽  
Fourth Industrial Revolution

Abstract Small and medium-sized enterprises (SMEs) are assumed to be one of the key contributors to the country’s economic growth and social welfare. Thus, their internationalisation appears to be inevitable considering how globalisation processes have changed the rules of competition in recent decades. Smart and digitalised technologies (Internet of Things and Services, etc.) decentralise communication and provide the opportunities for new firms to overcome the barriers of geographical location and access international markets through co-creation business models and changes of the value chains. The paper aims at analysing and disclosing how the fourth industrial revolution (Industry 4.0) influences SME internationalisation. The present study is grounded on the research of extant scientific literature and assessment of experts. The research demonstrates that Industry 4.0 positively influences the internationalisation of SMEs on a number of dimensions. The recommendations for managers and policymakers how to foster internationalisation of SMEs are suggested.

Banking Sustainability for Economic Growth and Socio-Economic Development – Case in Vietnam

2021 ◽  
Vol 12 (2) ◽  
pp. 2544-2553
Author(s):  
Dinh Tran Ngoc Huy , Et. al.
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Economic Development ◽  
Quantitative Analysis ◽  
Emerging Markets ◽  
Industry 4.0 ◽  
Policy Implications ◽  
Research Model ◽  
Market Risks ◽  
Socio Economic Development

In the context China-US commerce war and Covid 19 and Industry 4.0, wht happens to banking sustainability in emerging markets such as Vietnam? By using both quantitative analysis with statistics, charts and comparison, combined with qualitative analysis with synthesis, inductive and explanatory methods, research results show us that June is the month banks experience highest or lowest values of market risks, and during pre low inflation time , more beta values (max, mean, median) are equal to 1 or lower than 1. Whereas during post low inflation stage, several more beta values (max, mean, median) higher than 1. Then, Main findings could be used for socio-economic policy implications in Vietnam. And research model can be applied for other countries, esp. Emerging markets

scholarly journals A Forecasting Model for Economic Growth and CO2 Emission Based on Industry 4.0 Political Policy under the Government Power: Adapting a Second-Order Autoregressive-SEM

2019 ◽  
Vol 5 (3) ◽  
pp. 69 ◽  
Author(s):  
Sutthichaimethee ◽  
Chatchorfa ◽  
Suyaprom
Keyword(s):  
Economic Growth ◽  
Carbon Dioxide Emissions ◽  
Industry 4.0 ◽  
Goodness Of Fit ◽  
Arima Model ◽  
Second Order ◽  
Forecasting Model ◽  
Political Policy ◽  
The Government

This research aims to forecast future economic and environmental growth for the next 16 years (2020–2035) according to the government’s strategic framework by applying the second order autoregressive-structural equation model (second order autoregressive-SEM). The model is validated by various measures, fits with the best model standards, meets all criteria of the goodness of fit, and is absent from any issues of heteroskedasticity, multicollinearity, autocorrelation, and non-normality. The proposed model is very distinct from other alternatives in that it produces the optimal outcome. Its mean absolute percentage error (MAPE) is 1.02% while the root mean square error (RMSE) is 1.51%. A comparison of the above results is carried out to compare the same values from other models, namely the regression linear model (ML model), back propagation neural network (BP model), artificial neural natural model (ANN model), gray model, and the autoregressive integrated moving average model (ARIMA model). The second order autoregressive-SEM is a model that is appropriate for long-term forecasting (2020–2035), and accounts for the specifics of the Thai government strategy set under the Industry 4.0 policy framework. The results of the long-term analysis indicate that the current political policy will result in continuous economic growth, where the gross national product (GNP) growth rate will climb up to 6.45% per annum by 2035, while the environment is being negatively affected. The study predicts that CO2 emissions will rise up to 97.52 Mt CO2 Eq. (2035). The forecasting model also reflects that the economy factor has an adjustment ability to equilibrium stronger than that of the environment factor; further, it shows that the relationship between the factors is causal. In addition, the political policy , economy , and environment factors are found to have both direct and indirect effects. As to the results, this study illustrates that the Industry 4.0 policy is still inefficient, as the carbon dioxide emissions are projected to be higher than the threshold for environment hazards and disasters which set to the limit of 80 Mt CO2 Eq. by 2035. The effect of such policy will put the environment at risk, and the government must take immediate action to respond to this urgency. Thus, the second order autoregressive-SEM model remains a significant model embedded with the adjustment ability to equilibrium and the applicability for various contexts in different sectors. This introduced model is a vital tool for assisting the national government to create policy that is effective and sustainable, and lead to positive development of the nation. This second order autoregressive-SEM model can be used as a resource for the management of both public policy and private enterprise.

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