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Industry 4.0: The Essence and Development Trends
Sosnovska O. O., Vakofian V. G.

Sosnovska, Olga O., and Vakofian, Vahan G. (2022) “Industry 4.0: The Essence and Development Trends.” Business Inform 1:137–144.
https://doi.org/10.32983/2222-4459-2022-1-137-144

Section: Information Technologies in the Economy

UDC 338.45:004

Abstract:
The article discloses the relevance of the issue of the formation and development of Industry 4.0, emphasizes its comprehensive nature, reflects the system of scientific views on this term, taking into account the points of view of such leading consulting companies in the world as Deloitte, McKinsey, KPMG, Ernst &young, PricewaterhouseCoopers. The authors’ own vision of the essence of the concept is proposed that characterizes Industry 4.0 as the creation and introduction of breakthrough technologies that will serve as the basis for further technological development and their mass application, capable of influencing the growth of the quality of value chain management, the development of new business models and the integration of all production entities into a single database in order to improve production processes and accelerated innovation development. The main stages of industrial production development from the stage of mechanization (Industry 1.0) to the present (Industry 4.0 and beyond) are formulated and illustrated, indicating the potential of development. Attention is focused on the need for revolutionary changes not only in industry, but also in business models of enterprises. The principles of building Industry 4.0 are given, as well as the technologies inherent in Industry 4.0 are listed, their condensed essential characteristic is provided. The content of the key achievements of Industry 4.0 is emphasized, taking into account the main technologies and some areas of development. As a result, the authors identify the vector of development of economies of countries, as well as enterprises operating both in these economies and on the verge of their intersection, under the influence of Industry 4.0 and in the conditions of Next Normality (new reality), which involves significant transformation changes, integration of technologies, reorientation of enterprise resources, mechanisms of value added formation, and optimization of business processes at all levels.

Keywords: Industry 4.0., digital platforms, digital ecosystems, business processes, business models.

Fig.: 1. Tabl.: 1. Bibl.: 22.

Sosnovska Olga O. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance and Economics, Borys Grinchenko Kyiv University (18/2 Bulvarno-Kudriavska Str., Kyiv, 04053, Ukraine)
Email: [email protected]
Vakofian Vahan G. – Postgraduate Student, Department of Finance and Economics, Borys Grinchenko Kyiv University (18/2 Bulvarno-Kudriavska Str., Kyiv, 04053, Ukraine)
Email: [email protected]

List of references in article

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