What to Expect From Artificial Intelligence in Business

2020 ◽  
pp. 61-90
Author(s):  
Peter Verhezen
Keyword(s):  
Artificial Intelligence ◽  
Industry 4.0 ◽  
Success Factor ◽  
Data Governance ◽  
Privacy Concerns ◽  
Critical Success ◽  
Digital World ◽  
Potential Benefits ◽  
Board Level ◽  
Financial Capitalism

We are increasingly living in a digital world, where companies attempt to adapt to a new context of Industry 4.0. The authors believe that artificial intelligence and the use of logarithms will alter the game of competition. Digitization is moving our economy away from “financial capitalism” to “data capitalism,” and companies and their boards need to adopt the way they operate and steer the organization to new ecosystems where personalized service becomes part of the new digital strategy. Basically, it is not a battle of AI versus humans, but rather finding a way to enhance the collaboration of AI and humans in organizations. Despite the enormous potential benefits of AI, boards should not ignore the darker side of AI, namely the potential biasedness and sometimes unfairness of algorithms and privacy concerns and the ubiquitous cyberthreats. This is why proper data governance at the board level is needed. The authors suggest that this becomes a critical success factor to be addressed at boards, either as part of the risk management or strategic committee or as a separated digitization committee.

An Interventionist Approach to E-Commerce Implementation in SMEs

2011 ◽  
pp. 2021-2028
Author(s):  
David Tucker ◽  
Anthony Lafferty
Keyword(s):  
Technology Diffusion ◽  
Action Learning ◽  
Well Being ◽  
Success Factor ◽  
Web Based ◽  
Web Presence ◽  
Critical Success ◽  
Potential Benefits ◽  
Main Factors ◽  
Contemporary Technology

SMEs (small and medium-sized enterprises) make a vital contribution to the economic and social well being of most European nations. Many SMEs have invested in an e-commerce presence on the Internet. They are motivated by the potential benefits, which include increased competitiveness and efficiency. In the U.K. there are many examples of entrepreneurial SMEs that have successfully embraced e-commerce. However, there are also many more SMEs that could benefit from Web-based e-commerce but have not yet done so. This chapter sets out the main factors that are inhibiting SMEs from adopting e-commerce. It then reports on a two-year teaching company scheme (TCS) between the Manchester Metropolitan University Business School (MMUBS) and Partwell Ltd., a U.K.-based manufacturing SME. This TCS was designed to improve the competitiveness of Partwell by establishing an e-commerce Web presence. The chapter highlights the philosophy and objectives of the TCS programme and describes the process of technology transfer between Partwell and MMUBS. One of the authors became immersed in the company for the two-year duration of the project, and the data presented here are based on his experience as an initiator of change. The action learning method by which e-commerce was introduced into the company is described and the results are evaluated against contemporary technology diffusion literature. It is shown that gaining the trust of key employees at Partwell, coupled with the adoption of a soft approach to e-commerce implementation, is a critical success factor. Finally, the chapter reports on the benefits that Partwell has gained through the TCS experience.

Preventive Maintenance as a Critical Success Factor in Industry 4.0

2021 ◽  
pp. 311-331
Author(s):  
Pedro Fernandes da Anunciação ◽  
Vitor Dinis ◽  
Francisco Madeira Esteves
Keyword(s):  
Internet Of Things ◽  
Preventive Maintenance ◽  
Industry 4.0 ◽  
Economic Value ◽  
The Internet ◽  
Success Factor ◽  
Critical Success ◽  
Technological Potential ◽  
Wear And Tear ◽  
The Internet Of Things

In an economy that tends to operate in real time, where companies reduce stocks and value the customization of products and services according to the needs of their customers, information systems and technologies assume a predominant role. Equipment maintenance proves to be critical in supplying markets and meeting consumer needs. Regarding the maintenance of equipment, most managers are faced with the technical indications of suppliers, serving as a reference for the respective interventions. However, these indications often do not contemplate the contingency of certain situations, excessive hours of operation, or temperatures higher than those indicated. Preventive maintenance assumes an important role in the maintenance area by allowing interventions that are more appropriate to the wear and tear of the equipment. The technological potential associated with the internet of things or analytics allows the generation of economic value by guaranteeing the adequate conditions of the equipment and by avoiding disruptions in supply to the markets.

An Interventionist Approach to E-Commerce Implementation in SMEs

2011 ◽  
pp. 142-152
Author(s):  
David Tucker ◽  
Anthony Lafferty
Keyword(s):  
Technology Diffusion ◽  
Action Learning ◽  
Well Being ◽  
Success Factor ◽  
Web Based ◽  
Web Presence ◽  
Critical Success ◽  
Potential Benefits ◽  
Main Factors ◽  
Contemporary Technology

SMEs (small and medium-sized enterprises) make a vital contribution to the economic and social well being of most European nations. Many SMEs have invested in an e-commerce presence on the Internet. They are motivated by the potential benefits, which include increased competitiveness and efficiency. In the U.K. there are many examples of entrepreneurial SMEs that have successfully embraced e-commerce. However, there are also many more SMEs that could benefit from Web-based e-commerce but have not yet done so. This chapter sets out the main factors that are inhibiting SMEs from adopting e-commerce. It then reports on a two-year teaching company scheme (TCS) between the Manchester Metropolitan University Business School (MMUBS) and Partwell Ltd., a U.K.-based manufacturing SME. This TCS was designed to improve the competitiveness of Partwell by establishing an e-commerce Web presence. The chapter highlights the philosophy and objectives of the TCS programme and describes the process of technology transfer between Partwell and MMUBS. One of the authors became immersed in the company for the two-year duration of the project, and the data presented here are based on his experience as an initiator of change. The action learning method by which e-commerce was introduced into the company is described and the results are evaluated against contemporary technology diffusion literature. It is shown that gaining the trust of key employees at Partwell, coupled with the adoption of a soft approach to e-commerce implementation, is a critical success factor. Finally, the chapter reports on the benefits that Partwell has gained through the TCS experience.

scholarly journals Digital Economy as an Environment for Virtual Platform Operators

2019 ◽  
pp. 11-26
Author(s):  
Wojciech Paprocki
Keyword(s):  
Artificial Intelligence ◽  
Hybrid System ◽  
Industry 4.0 ◽  
Service Providers ◽  
Distribution Channels ◽  
Digital Economy ◽  
Digital World ◽  
The World ◽  
New Space ◽  
Virtual Platform

Digital economy that embraces the analogue and digital world has been developing for over the last ten years. The leaders of the digital economy are commercial and public virtual platform operators. In the 3 rd decade of the 21st century, the hybrid system will be dominating in the world. The concept of “Industry 4.0” will be implemented in all regions, but analogue processes will be still popular in the industry, distribution channels and households. Robots will become popular in production and services. In the management of data, information and knowledge solutions which are supported by the narrow artificial intelligence will be utilised step by step. The goal is the creation of new wisdom. Virtual platform operators in their commercial and public activities will strengthen their position on the market in the New Space. At the same time the producers and service providers representing the Old Space will be pressed to accept dependence on virtual platform operators.

scholarly journals Industry 4.0 Businesses Environments: Fostering Cyber Security Culture in a Culturally Diverse workplace

10.29007/r64x ◽  
2019 ◽  
Author(s):  
Tapiwa Gundu ◽  
Mark Maronga ◽  
Duane Boucher
Keyword(s):  
Cyber Security ◽  
Industry 4.0 ◽  
Culturally Diverse ◽  
Critical Success Factors ◽  
Success Factors ◽  
Cultural Dimensions ◽  
Success Factor ◽  
Security Culture ◽  
Critical Success ◽  
Key Phrases

The rapid pace of technological developments of the fourth industrial revolution (Industry 4.0) increasingly leads to the need for cyber skills amongst the organizational workforce. However, some countries are lagging in the necessary skills required, so organizations need to access a diverse pool of employees for recruitment purposes. The establishment of culturally diverse workforces requires a more mindful approach to how they are managed in order to foster a cyber security culture in the workplace. Typically, culturally diverse workforces cause more cyber security breaches, threats, and incidents, because of inherent trust issues amongst culturally diverse employees. A literature review was conducted to identity relevant critical success factors to foster a cyber security culture for a culturally diverse workforce. The researchers identified n=668 articles from Google Scholar using three key phrases. These articles were then filtered for a ten-year range (2009-2019), which returned n=117. A review of the key phrases in these articles identified n=20 relevant articles. From these eight critical success factors were identified, which are discussed in brief and related to the Theory of Planned Behavior and Hofstede’s Cultural Dimensions Theory. Suggestions of action items for each critical success factor are provided.

Industry-wide Supply Chain Information Integration

2012 ◽  
pp. 98-117 ◽  
Author(s):  
Stefan Henningsson ◽  
Jonas Hedman
Keyword(s):  
Supply Chain ◽  
Information Integration ◽  
Success Factor ◽  
Critical Success Factor ◽  
Management Level ◽  
Total Cost ◽  
Economic Unit ◽  
Critical Success ◽  
Potential Benefits ◽  
The Common

Experiences from enterprise-wide integration initiatives during more than four decades indicate that industry-wide information integration could render substantial benefits. Two ways in which industry-wide integration differs from enterprise-wide integration are that there is no common management level and the economic units in the integration are the constituent units, not the industry. Management involvement has been emphasized as perhaps the most critical success factor for enterprise-wide information integration. The common economic unit enables increased costs in one part of the organization to lower the total cost in the company as a whole. In this article the authors address which consequence these two differences have for the development of information integration in four industry-wide supply chains. The authors find the existing methods for enterprise-wide information integration, such as BPR, virtually impossible to apply on industry-wide information integration and that the disjoint economic responsibility is a hampering aspect in reaching potential benefits of industry-wide information integration.

Critical Success Factors in the Transition Processes to Industry 4.0 Projects

2019 ◽  
pp. 267-278
Author(s):  
Gulin Idil S. Bolatan ◽  
Sıtkı Gözlü
Keyword(s):  
Industry 4.0 ◽  
Critical Success Factors ◽  
Success Factors ◽  
Industrial Revolution ◽  
New Technologies ◽  
Success Factor ◽  
Literature Study ◽  
Transition Processes ◽  
Fourth Industrial Revolution ◽  
Critical Success

In today's competitive industrial world, sustainability and competitive advantage of companies depend mostly on their capability of adaptation to changing business requirements. The Fourth Industrial Revolution, driving from the progress in new technologies has been profoundly changing the dynamics of most industries. Hence, companies are getting prepared to move from the Third Industrial Revolution to the Fourth Industrial Revolution. The purpose of this research is to define critical success factors in the transition processes to Industry 4.0 projects. It is important for the effectiveness of the transition process to Industry 4.0. In this study, a literature study was conducted to identify the critical success factors in the transition processes of Industry 4.0. and, the survey instrument, a questionnaire form, was designed. The results of this research show that big data management is the most important success factor of Industry 4.0.

Industry-Wide Supply Chain Information Integration

2010 ◽  
Vol 3 (1) ◽  
pp. 1-20 ◽  
Author(s):  
Stefan Henningsson ◽  
Jonas Hedman
Keyword(s):  
Supply Chain ◽  
Information Integration ◽  
Success Factor ◽  
Critical Success Factor ◽  
Management Level ◽  
Total Cost ◽  
Economic Unit ◽  
Critical Success ◽  
Potential Benefits ◽  
The Common

Experiences from enterprise-wide integration initiatives during more than four decades indicate that industry-wide information integration could render substantial benefits. Two ways in which industry-wide integration differs from enterprise-wide integration are that there is no common management level and the economic units in the integration are the constituent units, not the industry. Management involvement has been emphasized as perhaps the most critical success factor for enterprise-wide information integration. The common economic unit enables increased costs in one part of the organization to lower the total cost in the company as a whole. In this article the authors address which consequence these two differences have for the development of information integration in four industry-wide supply chains. The authors find the existing methods for enterprise-wide information integration, such as BPR, virtually impossible to apply on industrywide information integration and that the disjoint economic responsibility is a hampering aspect in reaching potential benefits of industry-wide information integration.

scholarly journals KNOWLEDGE MANAGEMENT FOR LEARNING MANAGEMENT SYSTEM MENGGUNAKAN BALANCE SCORECARD DAN CRITICAL SUCCESS FACTOR

2020 ◽  
Vol 10 (3) ◽  
pp. 166-171
Author(s):  
Reko Syarif Hidayatullah
Keyword(s):  
Information Technology ◽  
Knowledge Management ◽  
Online Learning ◽  
Management System ◽  
Learning Management System ◽  
Learning System ◽  
Success Factor ◽  
Critical Success ◽  
Digital World ◽  
Learning Management

Technology that is increasingly developing will create a life journey to the digital world. Currently, information technology is very helpful in daily work from the lower class to the top. They can use information technology to get the information needed. Currently X University is developing a distance learning process using the Learning Management system information system as a result of the outbreak that is currently hitting this country, of course, lectures are currently being stopped. And learning is done by oline. Of course, currently online learning can be done using a variety of existing applications, but it certainly has shortcomings in data management when using common applications. Therefore university x developed an online learning system using a Learning Management System (LMS) to make it easier for university x to monitor online learning activities. So that everything can be realized properly, an assessment strategy is made based on existing problems by getting solutions from SWOT analysis, Balanced Scorecard and also Critical Success factors to assess what needs are needed so that the use of LMS can be successful by using Knowledge Management.  

scholarly journals Data, Data and Even More Data: Harvesting Insights From the Data Jungle

2016 ◽  
Vol 8 (2) ◽  
pp. 10-17 ◽  
Author(s):  
Bernd Skiera
Keyword(s):  
Data Science ◽  
Causal Effects ◽  
Success Factor ◽  
Critical Success Factor ◽  
Marketing Campaign ◽  
Analytical Skills ◽  
Critical Success ◽  
Digital World ◽  
The Right ◽  
Tools And Methods

Abstract Increasing global digitalization brings huge amounts of data. Finding a successful way to handle all this data and to transform it into real insights will be a critical success factor in the future. The biggest challenge for data science applications in marketing is that many marketing people studied marketing because they no longer wanted to do mathematics. A good marketing campaign will still have to be creative, touch emotions and build a brand, but more and more marketing managers will also need technical and analytical skills. It will more than ever be necessary to determine real causal effects to pull the right levers. Consumer insights have always been considered a major driver for growth, but in the digital world, successful growth can also come from improved technical and analytical implementation and skillful application of new tools and methods.

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