Changes in the industrial structure of GDP and stock indices also with regard to industry 4.0

Chovancová, Božena; Dorocáková, Michaela; Viera, Malacká,

doi:10.15208/beh.2018.29

Cited by 8 publications

(4 citation statements)

References 9 publications

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“…The share of GDP of traditional industries will decrease, and the percentage of GDP of robotic industries using IT will increase. These lead to the assumption that the financial services sector, which is particularly demanding for human capital, will show a downward trend in its role [50]. The transition to new technologies has to be made gradually based on national strategies.…”

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confidence: 99%

Influences of the Industry 4.0 Revolution on the Human Capital Development and Consumer Behavior: A Systematic Review

et al. 2020

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Automation and digitalization, as long-term evolutionary processes, cause significant effects, such as the transformation of occupations and job profiles, changes to employment forms, and a more significant role for the platform economy, generating challenges for social policy. This systematic literature review aims to provide an overview of the research to date related to influences of the Industry 4.0 Revolution on human capital development and consumer behavior. A search on the Web of Science identified 160 papers that met the inclusion criteria. The major objectives aimed to identify: the main types of influences of the Industry 4.0 Revolution on human capital development and consumer behavior; the main opportunities and challenges for new directions in education associated with shifting the work environment; and the drivers for human capital development and consumer behavior through the lenses of the Industry 4.0 Revolution. The results revealed some key aspects for the development of human capital: information, new jobs, the Internet, technology, training, education, new skills, automation, communication, innovativeness, professionals, productivity, artificial intelligence, digitalization, e-recruitment, and the Internet of Things, as well as the main drivers of consumer behavior: information, e-commerce, digitalization, the Internet of Things, e-distribution, technology, digitalization, automation, personalized, performance, artificial intelligence, behavior intention, e-shopping, and data mining.

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confidence: 99%

Influences of the Industry 4.0 Revolution on the Human Capital Development and Consumer Behavior: A Systematic Review

et al. 2020

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“…Regarding possible future consequences in the area of economics or manufacturing, Industry 4.0 may contribute significantly to the continuing trend where a structure of industrial indices no longer corresponds to the GDP structure, which suggests that the stock market does not mirror the economy anymore (Chovancova et al 2018). According to (Kireeva and Tsoi 2018), Industry 4.0 is a factor of growth by either the adoption of manufacturing technologies by existing companies or the formation of new ones in the IT industry.…”

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Consequences of Industry 4.0 in Business and Economics

et al. 2018

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Abstract:The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions.

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“…Similar to in the 1990s, when new services in the beginning of technological revolution emerged, the new wave of advanced technologies may result in innovative services combined with significant changes in the workforce. At the high level of robotisation, one may assume that apart from the innovative technologies, the role of manufacturing will gain in importance, which will, in turn, account for the IT robotisation process [33].…”

Section: New Competences and Skills Of Employeesmentioning

confidence: 99%

Expectations and Challenges in the Labour Market in the Context of Industrial Revolution 4.0. The Agglomeration Method-Based Analysis for Poland and Other EU Member States

Piątkowski

2020

Sustainability

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Technological revolution brings forth major changes in the labour market as well as the necessity to adapt to the shifting conditions on the part of both employees and entrepreneurs. This notion fits in with the European Policy of “Lifelong Learning” which presents the necessity to constantly improve skills and participate in the process of learning through the entire period of professional engagement. The aim of the article is to diagnose the current situation in the labour market and expectations towards employees as a result of the technological revolution and digitization, and to analyze whether there are groups of countries in the EU with similar features describing the labour market and to present the differences between these groups. The study uses research methods based on literature research, content analysis and comparative analysis, and the empirical part uses cluster analysis—the Ward method, using secondary statistical data from the Eurostat database. It was verified which groups of the Member States exhibited similarities to the extent of: forms of employment; work productivity; commitment of entrepreneurs and employees to the process of continuing vocational training (CVT) and lifelong learning; educating future employees of the economy at the level of higher education (HE) in STEM fields and development of digital skills as well as commitment of governments of each EU Member State to financing research and development in higher education institutions (HEIs). It may be ascertained that the average values of variables describing the pattern followed by “new” Member States which joined the EU in 2004 or later are, in majority, lower than the values of the same variables describing the pattern followed by the “old” Member States. It cannot be unambiguously stated that the affiliation with the Eurozone in any way determined whether a given group of Member States is better or worse than the other. The resulting figures may become significant at the stage of developing the employment policy as well as the education policy and the professional career development policy in the respective Member States. Those results may be applied to both evaluation and planning of actions to be taken against the background of the development strategy in order to reduce clearly visible inequalities between the European Union Member States.

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Changes in the industrial structure of GDP and stock indices also with regard to industry 4.0

Cited by 8 publications

References 9 publications

Influences of the Industry 4.0 Revolution on the Human Capital Development and Consumer Behavior: A Systematic Review

Influences of the Industry 4.0 Revolution on the Human Capital Development and Consumer Behavior: A Systematic Review

Consequences of Industry 4.0 in Business and Economics

Expectations and Challenges in the Labour Market in the Context of Industrial Revolution 4.0. The Agglomeration Method-Based Analysis for Poland and Other EU Member States

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