Digital Transformation from Leveraging Blockchain Technology, Artificial Intelligence, Machine Learning and Deep Learning

Chandrasekaran, Nichith; Somanah, Radhakhrishna; Rughoo, Dhirajsing; Dreepaul, Raj Kumar; Cunden, Tyagaraja S. Modelly; Demkah, Mangeshkumar

doi:10.1007/978-981-13-3338-5_25

Cited by 10 publications

(7 citation statements)

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“…High priority of human capital for intellectual production in Industry 4.0 is emphasized in Dresvyannikov et al (2019), Velayutham and Rahman (2018), Amankwah-Amoah (2018), Mehrotra and Malhotra (2019) and Hsiung and Wang (2012). Perspectives of development of intellectual production based on improvement of AI are outlined in Chandrasekaran et al (2019), Brun (2019), IphofenR and Kritikos (2019), Zandi et al (2019), Doyle and Senske (2018) and Wilner (2018). Contradiction between the influence of human and artificial intellectual capital on intellectual production in Industry 4.0 is emphasized in Bedford (2011), Popkova et al (2017a), Popkova et al (2017b), Popkova et al (2019), Popkova and Sergi (2019), D'Aleo and Sergi (2017) and Sergi (2018).…”

Section: Literature Reviewmentioning

confidence: 99%

The model of distribution of human and machine labor at intellectual production in industry 4.0

Inshakova

Frolova

Rusakova

et al. 2020

JIC

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PurposeThe purpose of the paper is to develop a model of distribution of human and machine labor at intellectual production in Industry 4.0.Design/methodology/approachThe basis of the methodology of the research is regression analysis. The analyzed variables are independent variables that characterize the level of development of human and machine labor in the economy of a country; dependent variables that reflect the effectiveness of the production, marketing and innovative business processes in the economy of country according to “The Global Competitiveness Report” (World Economic Forum); and dependent variables, which show the share of the sphere (agriculture, mining industry, processing industry and service sphere) in the structure of GDP of a country according to the statistics of the World Bank. For determining the change of regression dependencies in dynamics in the interests of reduction of the probability of statistical error, the research is conducted for 2010 and 2018 with application of trend analysis.FindingsBased on the full selection of modern countries that conduct digital modernization, the authors determine statistical dependencies of effectiveness of business processes and development of the spheres of economy on the intensity of application of machine and human labor. This allowed determining significant differences in automatization of business processes: perspectives of application of machine labor are the widest in production and the narrowest in marketing, differentiated logic of organization of intellectual production in different spheres of economy and the specifics of automatization of business processes and spheres of economy in countries of different categories, one of which has to be taken into account during organization of intellectual production in Industry 4.0.Originality/valueThe developed model of optimal distribution of human and machine labor at intellectual production in Industry 4.0 will allow reducing disproportions in effectiveness of different business processes, development of different spheres of economy and growth rate of developed and developing countries. This explains its contribution into provision of well-balanced development of the modern global economic system.

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Section: Literature Reviewmentioning

confidence: 99%

The model of distribution of human and machine labor at intellectual production in industry 4.0

Inshakova

Frolova

Rusakova

et al. 2020

JIC

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“…Blockchain integration work seamlessly with other emerging technologies such as IoT (Barenji et al, 2019) artificial intelligence (Chandrasekaran et al, 2019) big data analysis (Dlodlo & Kalezhi, 2015) and cloud computing (Yu, Yang, & Sinnott, 2019;Zhu, Wu, Gai, & Choo, 2019); creating a unique boundless future projection.…”

Section: Introductionmentioning

confidence: 99%

An Overview of Blockchain Technology Adoption

Jimoh¹,

Abdullahi²,

Ibrahim³

2019

JCSIT

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Governments of emerging economies need to stimulate awareness and adoption of emerging technologies to facilitate effective and efficient citizen service delivery. The need for an integrated Information Communication Technology ecosystem in developing countries, nurture the call for adoption of emerging technologies. Similar to every emerging technology, the adoption of blockchain is dependent on the extent that government and relevant stakeholders take the lead in supporting and unveiling market-creating innovation on blockchain platforms. This paper provides an insight into the need for blockchain technology in developing economy; with Nigeria as a case study. Possible challenges and limitation of blockchain implementation are highlighted with a recommendation on the role of ICT regulatory agency towards achieving a sustainable blockchain technology adoption.

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“…Digital transformation enables organizations to collaborate with partners, suppliers, and customers to create new value propositions and business opportunities (Aithal, 2023, Akter, et. al., 2022, Chandrasekaran, et. al., 2019.…”

Section: Opportunities Of Digital Transformationmentioning

confidence: 99%

The impact of digital transformation on business development strategies: Trends, challenges, and opportunities analyzed

Olorunyomi Stephen Joel,

Adedoyin Tolulope Oyewole,

Olusegun Gbenga Odunaiya

et al. 2024

World J. Adv. Res. Rev.

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Digital transformation has become a crucial driver of business development, reshaping industries and redefining how companies operate. This review analyzes the trends, challenges, and opportunities arising from this transformative process. Companies are increasingly adopting digital technologies such as cloud computing, AI, IoT, and big data analytics to streamline operations, improve customer experiences, and drive innovation. Digital transformation has led to a focus on understanding and meeting customer needs through personalized experiences and targeted marketing strategies. COVID-19 pandemic accelerated the adoption of remote work and digital collaboration tools, leading to new ways of working and collaborating across teams and organizations. Many organizations struggle with outdated legacy systems and infrastructure, making it challenging to integrate new digital technologies. As companies collect and analyze more data, ensuring data privacy and security has become a major concern. There is a growing demand for professionals with digital skills, but many organizations face challenges in finding and retaining talent. Digital transformation enables companies to collect and analyze vast amounts of data, providing valuable insights into customer behavior and preferences. Automation and digital technologies can streamline processes, reduce costs, and improve efficiency. Digital transformation opens up new opportunities for innovation and the development of new business models, enabling companies to stay competitive in a rapidly changing market. Digital transformation is reshaping business development strategies, driving innovation, and creating new opportunities for growth. However, it also presents challenges, such as legacy systems, data security, and skills gaps, that organizations must address to fully realize the benefits of digital transformation.

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Digital Transformation from Leveraging Blockchain Technology, Artificial Intelligence, Machine Learning and Deep Learning

Cited by 10 publications

References 0 publications

The model of distribution of human and machine labor at intellectual production in industry 4.0

The model of distribution of human and machine labor at intellectual production in industry 4.0

An Overview of Blockchain Technology Adoption

The impact of digital transformation on business development strategies: Trends, challenges, and opportunities analyzed

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