Industry 4.0 - A New Futuristic Technological Revolution A Catalyst of Innovation &amp; Entrepreneurship in Creation of Enterprises

Rath, Devesh; Satpathy, Ipseeta; Patnaik, B.C.M.

doi:10.35940/ijitee.a5074.119119

Cited by 7 publications

(4 citation statements)

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“…These findings are in line with another study that examined the role and impact of Industry 4.0 in promoting innovation and entrepreneurship when creating enterprises through the modification of education systems. The introduction of modules on components of Industry 4.0 (in different phases of the educational career of individuals) with prospects or competencies could shape a technology-enabled society through qualitative workforce creation, whilst also cultivating enthusiasm regarding innovation and entrepreneurship (Rath et al. , 2019).…”

Section: Results Of the Systematic Literature Reviewmentioning

confidence: 99%

“…The AI technologies in classrooms and the necessary modifications made to teaching could become instrumental in adapting and evolving to fit the AI revolution (Tarabasz et al, 2018). This could form a technology-savvy society through qualitative workforce creation and the cultivation of enthusiasm with regards to innovation and entrepreneurship (Rath et al, 2019). Therefore, it is possible to suggest that entrepreneurship, also supported by AI, could be introduced from High School levels up to the Higher Education curricula.…”

Section: Discussionmentioning

confidence: 99%

“…, 2018). This could form a technology-savvy society through qualitative workforce creation and the cultivation of enthusiasm with regards to innovation and entrepreneurship (Rath et al. , 2019).…”

Section: Discussionmentioning

confidence: 99%

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Artificial intelligence as an enabler for entrepreneurs: a systematic literature review and an agenda for future research

Giuggioli

Pellegrini

2022

IJEBR

102

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PurposeWhile the disruptive potential of artificial intelligence (AI) has been receiving growing consensus with regards to its positive influence on entrepreneurship, there is a clear lack of systematization in academic literature pertaining to this correlation. The current research seeks to explore the impact of AI on entrepreneurship as an enabler for entrepreneurs, taking into account the crucial application of AI within all Industry 4.0 technological paradigms, such as smart factory, the Internet of things (IoT), augmented reality (AR) and blockchain.Design/methodology/approachA systematic literature review was used to analyze all relevant studies forging connections between AI and entrepreneurship. The cluster interpretation follows a structure that we called the “AI-enabled entrepreneurial process.”FindingsThis study proves that AI has profound implications when it comes to entrepreneurship and, in particular, positively impacts entrepreneurs in four ways: through opportunity, decision-making, performance, and education and research.Practical implicationsThe framework's practical value is linked to its applications for researchers, entrepreneurs and aspiring entrepreneurs (as well as those acting entrepreneurially within established organizations) who want to unleash the power of AI in an entrepreneurial setting.Originality/valueThis research offers a model through which to interpret the impact of AI on entrepreneurship, systematizing disconnected studies on the topic and arranging contributions into paradigms of entrepreneurial and managerial literature.

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Section: Results Of the Systematic Literature Reviewmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

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Artificial intelligence as an enabler for entrepreneurs: a systematic literature review and an agenda for future research

Giuggioli

Pellegrini

2022

IJEBR

102

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“…Business education and entrepreneurship play a vital role in developing innovative and well-versed graduates in the digital landscape. Integrating AI techniques into education and making necessary adjustments can help adapt to and harness the potential of the AI revolution [76], and has the potential to advance technology and foster entrepreneurship, creating a skilled workforce [77].…”

Section: Nicholls Et Al (2015) [43]mentioning

confidence: 99%

The Disruptive Innovation and Entrepreneurship Education: The Literature Review and Current Practices

Indiran,

Fu,

Wiyata

et al. 2024

KSS

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Entrepreneurship education is changing dramatically due to rapid technological advancements and transformative business models. This study investigates the interactions and implications of existing frameworks and practices that link disruptive innovation with entrepreneurship education. The research employs a comprehensive literature review from 2019 to 2023, to synthesize detailed analyses for investigating the interplay of these concepts. Entrepreneurship education fosters the ability to recognize and capitalize on innovative opportunities, whereas disruptive innovation emphasizes value creation through norm-breaking when aligned with entrepreneurial principles. Effective entrepreneurship education can drive new businesses and revitalize existing ones by enabling individuals to capitalize on disruptive breakthroughs. However, incorporating disruptive innovation into courses is challenging. Traditional education may fail to capture the dynamic nature of disruptive innovation, and risk-averse academic environments may stifle experimentation. Innovative teaching methods that balance basic business concepts with disruptive thinking are essential. Finally, a new generation of entrepreneurs can be developed by combining disruptive innovation and entrepreneurship education. Individuals can capitalize on opportunities for economic growth by infusing programmers with disruptive principles. The study identifies five key components of convergence: (i) technology-enabled virtual learning environments (VLEs), (ii) online distance learning (ODL), (iii) digitalization in entrepreneurship education, (iv) competency-based education (CBE) that fosters Business Model Innovation, and (v) experience-based learning in entrepreneurial education. This paper examines the role of disruptive innovation in entrepreneurial education, proposing research directions and highlighting unresolved areas for investigation. Keywords: business model, disruptive innovation, entrepreneurship education, technology, online distance learning

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Venture capital and Industry 4.0: The G7's versus BRICS' experience

Popkova

Inshakova

Sergi

2021

Thunderbird Intl Bus Rev

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This article aims to set a framework on how venture capital could contribute comprehensively to supporting sustainable development goals employing Industry 4.0's digital entrepreneurship, filling a gap in the existing literature concerning the role of venture capital in Industry 4.0. This article advances a new venture capital model, which might play a significant role in OECD countries in supporting investment and innovative projects and allow for creative activity and high‐powered global competitiveness. Likewise, venture capital will achieve a new purpose to better economic well‐being and ensure higher effectiveness of venture capital management. The economic model here has shown that an increase of the share of venture capital in the structure of GDP by 1% leads to the growth of digital competitiveness by 60.0698 points and the development of global competitiveness by 2.3831 points. As per the article's findings, we should give venture capital a new role in supporting innovative projects, a digital modernization of entrepreneurship, and global competitiveness. These parts are connected to economic and public well‐being.

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Industry 4.0 - A New Futuristic Technological Revolution A Catalyst of Innovation & Entrepreneurship in Creation of Enterprises

Cited by 7 publications

References 0 publications

Artificial intelligence as an enabler for entrepreneurs: a systematic literature review and an agenda for future research

Artificial intelligence as an enabler for entrepreneurs: a systematic literature review and an agenda for future research

The Disruptive Innovation and Entrepreneurship Education: The Literature Review and Current Practices

Venture capital and Industry 4.0: The G7's versus BRICS' experience

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