Ramazan Uctu , Nadide Sevil Halici Tuluce , Mustafa Aykac
{"title":"Creative destruction and artificial intelligence: The transformation of industries during the sixth wave","authors":"Ramazan Uctu , Nadide Sevil Halici Tuluce , Mustafa Aykac","doi":"10.1016/j.ject.2024.09.004","DOIUrl":"10.1016/j.ject.2024.09.004","url":null,"abstract":"<div><div>Artificial intelligence (AI) is considered to be a key driver in the emerging sixth wave of technological advancement, one that has profound economic implications. The emergence of AI has led to significant changes in a wide range of different sectors, the reshaping of existing sectors, and the disruption of traditional business practices. This transformative power aligns with Schumpeter's theory of creative destruction, in which innovations are seen to cause older technologies and business models to become obsolete, leading to significant economic shifts. The role of AI in the sixth wave is crucial not only because of its immediate applications in the area of automation and data processing but also because of its broader capacity to drive a new cycle of innovation and economic renewal. This ongoing cycle, driven by creative destruction, challenges businesses to adapt and evolve, ultimately contributing to a more robust and dynamic economy. In this article, the authors explore the ways in which AI promotes innovation and its effect on economic expansion, using Schumpeter's theory of creative destruction.</div></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 296-309"},"PeriodicalIF":0.0,"publicationDate":"2024-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142427856","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Leveraging the digital sustainable growth model (DSGM) to drive economic growth: Transforming innovation uncertainty into scalable technology","authors":"Ahmed Shalaby","doi":"10.1016/j.ject.2024.09.003","DOIUrl":"10.1016/j.ject.2024.09.003","url":null,"abstract":"<div><div>The rapid advancement of artificial intelligence (AI), particularly with the emergence of Artificial General Intelligence (AGI), has intensified concerns about AI potentially overshadowing human autonomy and disrupting job markets. As AI systems become more capable of performing tasks traditionally handled by humans, there is an urgent need to rethink education to ensure future employability. To stay relevant in an increasingly automated world, the focus should shift toward developing uniquely human skills such as innovation and critical thinking. Educational systems must adapt by emphasizing these higher-order cognitive skills and integrating frameworks like the Digital Sustainable Growth Model (DSGM). By aligning Jungian Cognitive Functions with the innovation process, organizations can develop scalable technologies that not only drive innovation but also optimize talent management. This alignment ensures that human innovation and technological advancements progress together, creating systems that enhance innovative problem-solving and maximize team effectiveness.</div></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 310-321"},"PeriodicalIF":0.0,"publicationDate":"2024-09-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142427755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Md Hasibul Islam , Md. Zahidul Anam , Mohammad Rashedul Hoque , Maksuraton Nishat , A.B.M. Mainul Bari
{"title":"Agriculture 4.0 adoption challenges in the emerging economies: Implications for smart farming and sustainability","authors":"Md Hasibul Islam , Md. Zahidul Anam , Mohammad Rashedul Hoque , Maksuraton Nishat , A.B.M. Mainul Bari","doi":"10.1016/j.ject.2024.09.002","DOIUrl":"10.1016/j.ject.2024.09.002","url":null,"abstract":"<div><p>To ensure food security in this age of production and supply disruption, the agricultural sectors of emerging economies are gradually adopting more smart technologies to achieve sustainability. However, literature on the challenges of adopting Agriculture 4.0-based smart farming technologies is still very limited. This research, therefore, explores the contextual interrelation among the challenges to adopting Agriculture 4.0-based smart technologies in the agricultural production system from a developing country's perspective and prioritizes the identified challenges. A case study was conducted in Bangladesh, an emerging economy, where data was collected through interviews and focus group discussion sessions. A total of 21 challenges were finalized as relevant to the country's context. The Interpretive Structural Modeling (ISM) technique was deployed to develop a hierarchical structure depicting the challenges' interrelations. The challenges were later ranked based on their relevant weight using the Best-Worst Method (BWM). This study finds technological complexity, lack of collaboration among different stakeholders, inadequate support from the government, and lack of action plans to have very high driving power. Challenges such as high initial investment and operational costs, lack of skilled workforce, and farmers' resistance were found to be dependent challenges. This study is expected to contribute by providing a deeper insight into the challenges of adopting Agriculture 4.0 in emerging economies so that practitioners can take effective mitigating measures to streamline the plant-based agricultural production systems to promote food security and sustainability.</p></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 278-295"},"PeriodicalIF":0.0,"publicationDate":"2024-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949948824000416/pdfft?md5=242f7f4d20e45dcd47e9f166bc4c68ee&pid=1-s2.0-S2949948824000416-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142270571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Advanced computational methods for news classification: A study in neural networks and CNN integrated with GPT","authors":"Fahim Sufi","doi":"10.1016/j.ject.2024.09.001","DOIUrl":"10.1016/j.ject.2024.09.001","url":null,"abstract":"<div><div>In an era inundated with vast amounts of information, the imperative for efficient news classification is paramount. This research explores the sophisticated integration of neural networks and convolutional neural networks (CNN) with Generative Pre-trained Transformers (GPT) to enhance the precision and efficacy of news categorization. The rapid digital dissemination of news necessitates advanced computational methodologies capable of accurate classification and event prediction that include finance and economic events. Leveraging recent advancements in machine learning and natural language processing (NLP), this study utilizes large language models (LLMs) such as GPT and BERT, known for their exceptional comprehension and generation of human-like text. Over 232 days, our methodology classified 33,979 news articles into Education & Learning, Health & Medicine, and Science & Technology, with further subcategorization into 32 distinct subcategories. For evaluation, a sample of 5000 articles was assessed using metrics such as True Positive (TP), True Negative (TN), False Positive (FP), False Negative (FN), Precision, Recall, and F1-Score. In comparison with the existing studies, the proposed method achieving significantly higher with average scores of 0.986 (Precision), 0.987 (Recall), and 0.987 (F1-Score). This research offers substantial practical contributions, providing detailed insights into news source contributions, effective anomaly detection, and predictive trend analysis using neural networks. The theoretical contributions are profound, demonstrating the mathematical integration of GPT with CNNs and recurrent neural networks. This integration advances computational news classification and exemplifies how sophisticated mathematical frameworks enhance large-scale text data analysis, marking a pivotal advancement in applying advanced computational methods in real-world scenarios.</div></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"3 ","pages":"Pages 264-281"},"PeriodicalIF":0.0,"publicationDate":"2024-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143854790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"LLM technologies and information search","authors":"Lin Liu , Jiajun Meng , Yongliang Yang","doi":"10.1016/j.ject.2024.08.007","DOIUrl":"10.1016/j.ject.2024.08.007","url":null,"abstract":"<div><p>With the booming of LLM technologies (e.g., ChatGPT), people’s goals and behaviors in information search have been reshaped significantly. This paper attempts to conceptually discuss how LLM technologies might revolutionize these important aspects in information search and provides a comprehensive analysis of the technological advancements and capabilities of ChatGPT, highlighting its potential to disrupt traditional search engines like Google. In addition, this paper contrasts ChatGPT’s conversational approach with Google’s link-based search model, offering a detailed examination of the implications for online search advertising and user behavior and explaining why Google is concerned about ChatGPT as well as its potential reactions.</p></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 269-277"},"PeriodicalIF":0.0,"publicationDate":"2024-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949948824000398/pdfft?md5=d98336df056738981c03ba75525f3e1f&pid=1-s2.0-S2949948824000398-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142242636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Women's economic empowerment and COVID-19 pandemic: A study on women entrepreneurs in Bangladesh","authors":"Nasir Uddin , Proma Barua","doi":"10.1016/j.ject.2024.08.006","DOIUrl":"10.1016/j.ject.2024.08.006","url":null,"abstract":"<div><p>This paper aims to explore the impact of COVID-19 pandemic on women's economic empowerment in Bangladesh. Based on the available literature, this paper develops a holistic framework for economic empowerment and measures how COVID-19 pandemic has contributed to changes in the framework. The study adopts a quantitative research method to address the research question; of whether and to what extent women entrepreneurs were economically empowered by their businesses during COVID-19 pandemic. The empirical data was collected from 52 Bangladeshi women entrepreneurs via telephone interviews and online surveys using a structured questionnaire in February–March 2022, and respondents were chosen randomly from various online social groups and pages. The findings suggest that women entrepreneurs have contributed to family spending, resource allocation, and decision-making. However, their role has diminished significantly in asset ownership during the pandemic. In addition, women's attitudes toward violence, social stigma, and education have shifted dramatically. Furthermore, women entrepreneurs face several challenges, including a lack of government support, limited availability of credit, a lack of entrepreneurial education, and an increased responsibility in the family. Although numerous research studies have demonstrated how COVID-19 pandemic affected women during the pandemic, the impact of COVID-19 pandemic on economic empowerment through gender lenses has frequently been disregarded in Bangladesh context. This study bridges that gap, particularly in developing economies context and the framework constructed in this study is instrumental for understanding the dynamics of economic empowerment that can be applied in future research.</p></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 258-268"},"PeriodicalIF":0.0,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949948824000386/pdfft?md5=9fbc3fcf6eac773969b5ca1926225a15&pid=1-s2.0-S2949948824000386-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142121597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Farheen Fatima , James C. Hyatt , Shafiq Ur Rehman , Elyson De La Cruz , Geeta Sandeep Nadella , Karthik Meduri
{"title":"Resilience and risk management in cybersecurity: A grounded theory study of emotional, psychological, and organizational dynamics","authors":"Farheen Fatima , James C. Hyatt , Shafiq Ur Rehman , Elyson De La Cruz , Geeta Sandeep Nadella , Karthik Meduri","doi":"10.1016/j.ject.2024.08.004","DOIUrl":"10.1016/j.ject.2024.08.004","url":null,"abstract":"<div><p>This Grounded Theory examines the in-depth dynamics of cybersecurity professionals working in financial organizations regarding stress management, risk handling, communication challenges, and perceived benefits from work. This study conducted a grounded theory approach with cybersecurity professionals through in-depth interviews to comprehensively understand these dynamics. The findings identify critical themes about emotional and psychological resilience, effective risk management strategies, overcoming communication challenges, and recognizing organizational and personal benefits from robust cybersecurity practices. The current research highlights that for better well-being and performance of cybersecurity teams, extensive support systems, proactive risk management, and communication are very important and should be embedded within organizations. By utilizing the grounded theory, this study offers a nuanced exploration of the complex and entwined factors that impact daily operations and the overall effectiveness of cybersecurity professionals, offering valuable insights for improving organizational policies and creating a supportive work environment. These findings suggest, most importantly, that robust support systems, risk assessments, clear communication protocols, and training opportunities should be developed and operationalized in financial organizations to help professionals reduce stress at work and strengthen resilience factors. Not only does this research project cover significant gaps in the literature, but it also really helps financial organizations further improve their currently existing cybersecurity strategies to better support personnel by using this framework.</p></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 247-257"},"PeriodicalIF":0.0,"publicationDate":"2024-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949948824000362/pdfft?md5=e3821ff091234ce2a70c25f27c34386f&pid=1-s2.0-S2949948824000362-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142048599","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Digital Sustainable Growth Model (DSGM): Achieving synergy between economy and technology to mitigate AGI risks and address global debt challenges","authors":"Ahmed Shalaby","doi":"10.1016/j.ject.2024.08.003","DOIUrl":"10.1016/j.ject.2024.08.003","url":null,"abstract":"<div><div>The emergence of Artificial General Intelligence (AGI) as Artificial Humanity (AH) marks a crucial turning point in human history, influencing both the digital economy and sustainable development. AGI has the potential to either drive unprecedented progress or threaten sustainability. This perspective study critiques existing capitalist systems and proposes a shift towards sustainable digital strategies to address the uncertain future role of AGI. It aims to encourage further research and collaboration for a smooth transition to a society that integrates AGI, highlighting AGI's potential to contribute to sustainable development. The study employs a multi-step methodology, including interviews with AI models such as ChatGPT-4 and Gemini, validation of insights, and comparisons with expert reports. It introduces the Digital Sustainable Growth Model (DSGM) as a framework for harmonizing humanity with AH, providing new opportunities for growth and ethical governance. The DSGM addresses both human vulnerabilities and AH’s potential. Additionally, the study highlights the BankRabbna application as an innovative digital tool, intended to be the first of its kind—a global company primarily owned by people worldwide. Its main function is to automate AI regulation, ensuring AGI safety while also tackling global debt.</div></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"3 ","pages":"Pages 314-332"},"PeriodicalIF":0.0,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144071829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Business confidence in the shift to renewable energy: A country-specific assessment in major Asian economies","authors":"Irsan Hardi , Ghalieb Mutig Idroes , Yoshihiro Hamaguchi , Muhlis Can , Teuku Rizky Noviandy , Rinaldi Idroes","doi":"10.1016/j.ject.2024.08.002","DOIUrl":"10.1016/j.ject.2024.08.002","url":null,"abstract":"<div><div>The growing awareness of the importance of transitioning to sustainable energy sources emphasizes the necessity of fostering business optimism toward renewable energy, as businesses wield significant influence in driving innovation and scaling up renewable energy deployment. Therefore, this study investigates the impact of business confidence on long-term renewable energy generation in selected major Asian economies: China, Japan, South Korea, Indonesia, and Turkey. Through country-specific assessments, we utilized three methods capable of yielding long-term empirical results: Fully-Modified OLS (FMOLS), Dynamic OLS (DOLS), and Canonical Cointegrating Regressions (CCR). The study also conducted a robustness check by utilizing the Robust Least Squares (RLS) method, preceded by multiple preliminary tests, to ensure the validity and reliability of the results. The findings show that businesses in all selected countries exhibit confidence toward long-term renewable energy. However, there are variations in the confidence level, with businesses in Japan, South Korea, and Turkey demonstrating high confidence while those in China and Indonesia show low confidence. The study also found a trade-off between business confidence levels and energy consumption. In Japan, South Korea, and Turkey, high business confidence correlates with a negative impact of energy consumption, while in Indonesia, low business confidence is aligned with a positive effect of energy consumption on renewable energy. This suggests that business confidence and energy consumption dynamics influence renewable energy development. Policy recommendations tailored to each of the selected countries are provided to address these findings, aiming to enhance business trust and optimism in renewable energy within major Asian economies.</div></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"3 ","pages":"Pages 44-68"},"PeriodicalIF":0.0,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143402647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How do technological innovation and urbanization drive economic growth in Tanzania and transform societies? Exploring the potential channels","authors":"Mwoya Byaro , Anicet Rwezaula","doi":"10.1016/j.ject.2024.08.001","DOIUrl":"10.1016/j.ject.2024.08.001","url":null,"abstract":"<div><p>The current era is witnessing a rapid pace of technological innovation and accelerated urbanization globally. This study examines the impact of technological innovation (trademark registrations) and urbanization on economic growth in Tanzania from the period 2002–2021 while accounting for inflation and industrialization in the regression model. Estimation is done using Kernel Regularized Least Squares (KRLS), a machine-learning technique. Results show that technological innovation has a positive impact on economic growth, with an average increase of 0.03 %. Inflation has a negative impact; reducing economic growth by 0.02 %. Urbanization and industrialization have positive impacts, increasing economic growth by 0.58 % and 0.16 %, respectively. Further, the study shows that the average increase in technological innovation (trademark registrations) leads to a 0.01 % increase in economic growth at the 50th percentile and a 0.16 % increase at the 75th percentile. However, at the 25th percentile, technological innovation reduces economic growth by 0.05 %. Conversely, the average increase in urbanization increases economic growth by 0.38 %, 0.61 %, and 0.83 % at the 25th, 50th, and 75th percentiles, respectively. Robustness tests confirm that technological innovations and urbanization promote economic growth in Tanzania. The study discusses the potential channels through which technological innovation and urbanization influence economic growth in Tanzania and transforms society, and provides practical policy implications.</p></div>","PeriodicalId":100776,"journal":{"name":"Journal of Economy and Technology","volume":"2 ","pages":"Pages 235-246"},"PeriodicalIF":0.0,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2949948824000337/pdfft?md5=457a39306a7ce29206e9c50fc2eea516&pid=1-s2.0-S2949948824000337-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142048597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}