Assessment of Readiness of Croatian Companies to Introduce I4.0 Technologies

The main topic of this paper is to estimate the possibility and inclination of Croatian companies towards technology and innovation as well as to analyze advantages, limitations and risks involved with this significant technological leap. We analyzed 7147 Croatian business entities operating in diff...

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Veröffentlicht in:Journal of risk and financial management Jg. 15; H. 12; S. 558
Hauptverfasser: Hrbić, Rajka, Grebenar, Tomislav
Format: Journal Article
Sprache:Englisch
Veröffentlicht: Basel MDPI AG 01.12.2022
Schlagworte:
Artificial intelligence
Automation
Circular economy
Decision making
Productivity
Croatia
ISSN:1911-8074, 1911-8066, 1911-8074
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Abstract The main topic of this paper is to estimate the possibility and inclination of Croatian companies towards technology and innovation as well as to analyze advantages, limitations and risks involved with this significant technological leap. We analyzed 7147 Croatian business entities operating in different industries in this paper. The starting point in this research is to identify subjects, which could be users of I4.0 or its elements, based on the similarity of indicators with indicators of a sample of 58 identified I4.0 companies. We developed a machine-learning model by using the eXtreme Gradient Boosting algorithm (XGBoost) for this purpose, an approach that has not been used in any similar research. This research shows that the main difference between I4.0 and traditional industry is mostly observable in significantly better business performance of investment indicators, cost efficiency, technical equipment and market competitiveness. We identified 141 companies (1.97% of total analyzed sample) as potential users of I4.0, which makes up around 27% of total assets of the analyzed sample and around 26% of revenues.
AbstractList The main topic of this paper is to estimate the possibility and inclination of Croatian companies towards technology and innovation as well as to analyze advantages, limitations and risks involved with this significant technological leap. We analyzed 7147 Croatian business entities operating in different industries in this paper. The starting point in this research is to identify subjects, which could be users of I4.0 or its elements, based on the similarity of indicators with indicators of a sample of 58 identified I4.0 companies. We developed a machine-learning model by using the eXtreme Gradient Boosting algorithm (XGBoost) for this purpose, an approach that has not been used in any similar research. This research shows that the main difference between I4.0 and traditional industry is mostly observable in significantly better business performance of investment indicators, cost efficiency, technical equipment and market competitiveness. We identified 141 companies (1.97% of total analyzed sample) as potential users of I4.0, which makes up around 27% of total assets of the analyzed sample and around 26% of revenues.
Author Grebenar, Tomislav
Hrbić, Rajka
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10.1080/09537287.2020.1810762
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ContentType Journal Article
Copyright 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.
Copyright_xml – notice: 2022 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.
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SubjectTerms Artificial intelligence
Automation
Circular economy
Decision making
Productivity
Title Assessment of Readiness of Croatian Companies to Introduce I4.0 Technologies
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