Research paper of 10 pages "Benefits of Information Technology in the Global Economy"

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Talent Development & Excellence 1322 Vol.12, No.2s, 2020, 1322-1332

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The Internet of Things and Transition to the Post-Industrial Economy

Bypassing the Industrial Stage: A Chance for Developing Countries

Ariadna Aleksandrova1*, Yuri Truntsevsky2, Marina Polutova3 1 Department of Industrial Economics and Finance, The Herzen State Pedagogical University of Russia, St.

Petersburg, Russian Federation 2 Department of methodology of combating corruption, Institute of Legislation and Comparative Law under the

Government of the Russian Federation, Moscow, Russian Federation 3 HRs Office, Zabaykalskiy State University, Chita, Russian Federation

Email:

Ariadna Aleksandrova

Department of Industrial Economics and Finance, The Herzen State Pedagogical University of Russia, St.

Petersburg, Russian Federation

Email: [email protected]

Abstract: New advances in information technology have a strong impact on various industries. The Internet of

things is a new concept that can significantly improve the efficiency and scalability, as well as save time and costs

of industrial enterprises. The purpose of the research is to assess the impact of the widespread introduction of new

digital technologies on the development of the country's economy. The analysis of the digital quality of life and

its correlation with the indicators of economic development is carried out. The study is based on the statistical data

from open sources, as well as international studies and world rankings to conduct a descriptive analysis of the

impact of information technologies on the various aspects of economic development in the era of industrialization.

To assess the economic growth potential in the digital economy, several relevant indicators have been selected:

GDP per capita; domestic research and development expenditure; the digital quality of life index. It has been

concluded that digitalization and the development of the Internet of things, in particular, determine the active

growth of the economy and provide developing countries with great potential.

Key words: The Internet of Things (IoT), Industry 4.0, ICT, developing countries, post-industrial economy, digital

quality of life index

Introduction

The economy and society are digitized at a swift rate. This phenomenon is due to three

technological trends (The methodology of the Telefonica Index on Digital Life, 2020):

1) the creation of the Internet based on social networks, which makes it possible to contribute

to digital life;

2) the Internet of Things (IoT), which connects an increasing number of devices to the Internet

providing completely new functionalities and services;

3) the wireless environment as the dominant mode of the Internet connection. The great

economic impact of new information and communication technologies (ICTs) is already

evident. New ICT developments have a strong impact on various industries. Industry paradigms

are changed by ensuring the connectivity of network entities, real-time data, and pervasive

information.

The Internet of things can be defined as a network of physical objects called “things” that have

embedded software, electronics, and sensors allowing them to collect and exchange data. The

purpose of the IoT is to expand Internet connectivity from standard devices, such as a computer,

mobile phone, tablet, to relatively simple devices, such as a toaster. The IoT makes almost

everything “smart,” improving our lives through data collection, artificial intelligence

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algorithms, and networks. The Internet of things is a paradigm in which everyday objects can

be equipped with the capabilities of identification, detection, networking and processing that

allow them to communicate via the Internet to achieve some goals (Whitmore et al., 2015). The

collected data are sent to the central service, where they are combined with other data and then

processed to provide useful information to end users (Khabrieva & Chernogor, 2018). The

Internet of things makes homes, schools, shops, and industries more automated.

The application of the IoT in industry is called the IIoT (Industrial Internet or Industry 4.0).

The IIoT has revolutionized manufacturing by providing access to much larger amounts of data,

at much faster speeds and much more efficiently than before. A number of innovative

companies have begun introducing the IIoT using smart devices. The IIoT can significantly

improve efficiency and scalability, as well as save time and costs of industrial organizations.

The IIoT networks of smart devices enable industrial organizations to use open data warehouses

and connect all their employees, data and processes from the production floor to the executive

offices. Company management can use the data to get an insight into their business

performance, which helps them make better decisions. The IIoT is considered one of the main

trends affecting the industrial business today. Industries seek to upgrade systems and equipment

to meet new regulations. The enterprises that have implemented the IoT have significantly

improved safety, efficiency, and profitability; this trend is expected to continue.

A post-industrial economy is a period of growth within an industrialized economy or nation in

which the relative importance of production decreases while the importance of services,

information and research increases (Espolov et al., 2018, 2019). Traditionally, the GDP

indicator is used to analyze the level of economic development. The GDP growth rate is often

used to assess the general state of the economy. On a larger scale, an increase in real GDP

indicates good economic performance of the country. Theoretically, developing countries are

those states that have a lower GDP per capita compared to other states and countries. However,

there is no exact definition, and in practice, developing countries are usually the countries that

are not the OECD members (OECD, 2019). Developing countries tend to have low standards

of democratic governments, free market economy, industrialization, social programs and

human rights guarantees for their citizens.

The emergence of a “new” economy is often compared to the second industrial revolution at

the end of the 18th century. That makes some sense as the influence of the Internet is constantly

increasing: it is changing not only industries and goods, but, ultimately, all aspects of life,

including sociology, psychology, political science and many other areas. As a result, the

traditional model of economic development is disrupted. This provides developing countries

with new opportunities that seemed inaccessible earlier.

Literature Review

The mid-twentieth century was characterized by the prevalence of a large, stable and centralized

business. Some possible causes of this are considered in the study (Winter & Taylor, 1996)

based on the historical analysis. To investigate the causes of the post-industrial organization of

labor, the authors of (Winter & Taylor, 1996) compare it with the history of the industrial

organization of labor. The authors of (Fahmi et al., 2016) study the emergence and spatial

patterns of creative industries in the context of a developing country, through the example of

https://ru.wikipedia.org/wiki/%D0%93%D0%BE%D1%81%D1%83%D0%B4%D0%B0%D1%80%D1%81%D1%82%D0%B2%D0%BE

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Indonesia. The results show that in this context it is important to distinguish between

“innovative” creative industries and “traditional cultural” industries. The industries that use

new knowledge and intellectual property are represented in the first category. Creative

industries are concentrated in large urban areas. Meanwhile, traditional cultural industries are

much less dependent on human capital and urbanization. The results of the study (Fahmi et al.,

2016) show that political strategies aimed at creative industries will be applicable in developed

regions if they have sufficient human capital and diversified economy.

The authors of (Strange & Zucchella, 2017) note that new digital technologies have significant

potential in value chains. They also report that Industry 4.0 is still in its infancy; however, it

has a significant impact on the nature of competition and corporate strategies in many industries

(Strange & Zucchella, 2017). The book (Ustundag & Cevikcan, 2018) discusses the key

technological achievements that form the basis of Industry 4.0. It also explores their potential

technical and economic advantages using real-life applications as examples. The changing

dynamics of world production, more complex and automated processes, high competitiveness

and emerging technologies have paved the way for a new generation of goods, products and

services. Moreover, manufacturers are increasingly recognizing the value of the data generated

by their processes and products. Such trends are transforming the processing industry into the

next generation, namely Industry 4.0, which is based on the integration of information and

communication technologies and industrial technologies (Roblek et al., 2016; Ustundag &

Cevikcan, 2018). The importance of the Industry 4.0 concept, or post-industrial economy, is

noted by the authors of many studies, for example (Reinhard et al., 2016; Lu, 2017; Santos et

al., 2017; Strange & Zucchella, 2017).

The study (Reinhard et al., 2016) is the world's largest study devoted to the issue: it involved

more than 2,000 participants from nine major industries and 26 countries. The study considers

the benefits of digitalizing horizontal and vertical value chains of a company, as well as creating

a portfolio of digital products and services. The authors (Reinhard et al., 2016) propose key

success factors for a new type of digital enterprise in the complex industrial ecosystems of the

future. A comprehensive review of Industry 4.0 is presented in (Lu, 2017). There is also an

overview of the contents, scope and conclusions of Industry 4.0 based on the literature available

on the Web of Science platform. Being initially launched in Germany, the fourth industrial

revolution (Industry 4.0) has attracted much attention in recent publications (Lee et al., 2014;

Lu, 2017; Pereira & Romero, 2017). The technologies responsible for the implementation of

the fourth industrial revolution are considered in (Lele, 2019). Most of these technologies

typically offer more automation, greater speed and accuracy.

The purpose of the research (Roblek et al., 2016) is to summarize the well-known theories and

practices of Industry 4.0, as well as to investigate the changes that will result from the

development of the Internet of things, which is instrumental in the new industrial revolution.

The IoT development has a great influence in many areas, in particular in industrial conditions

(Guizani, 2019). Thus, the Industrial Internet of things (IIoT) is often found in production

forming a new ecosystem that combines smart and autonomous machines, advanced predictive

analytics and the interaction between machines and people to increase productivity, efficiency

and reliability (Sidorenko, 2019).

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Smart manufacturing plays an important role in Industry 4.0. To fully understand smart

manufacturing in the context of Industry 4.0, the study (Zhong et al., 2017) provides an

overview of related topics such as smart manufacturing, IoT manufacturing, cloud

manufacturing. The authors of (Zhong et al., 2017) also considered key technologies such as

the IoT, cyberphysical systems (CPS), cloud computing, big data analysis and ICT, which are

used in smart manufacturing. The study (Zhang et al., 2017) also notes that the development of

technologies such as big data and cyberphysical systems has increased the demand for product

design. Digital product design involves the use of advanced digital technologies such as

geometric modeling, kinematic and dynamic modeling, interdisciplinary interaction, virtual

assembly, virtual reality, multiobjective optimization and human-computer interaction (Zhang

et al., 2017).

The Internet of things has become incredibly popular in the last five years. Currently, more than

6.4 billion IoT devices are used worldwide (Soia et al., 2019). The analysis of the publications

shows that the influence of the ubiquitousness of smart things on the development of the

economy has not been sufficiently studied. Thus, the market in its classical form is going to

disappear. This requires studying the impact of the IoT on the industry of the future in the

context of the transition to the post-industrial economy.

Problem Statement

Digital economy reflects the transition from the third industrial revolution to the fourth. The

fourth industrial revolution is based on the digital revolution as the physical and cyber worlds

are being connected by modern technology. It is not only about using a computer to perform

tasks traditionally performed manually or with the help of analog devices. The digital economy

emphasizes the possibility and need of organizations and individuals to use technology to

perform these tasks at a completely new level. Moreover, this term reflects the ability to use

technology to perform tasks that were not possible in the past. Such capabilities are included in

the related digital conversion concept.

Today, scientific research on the issues related to the digital economy is the most popular not

only because of the active introduction of digital technologies in all spheres of life, but also

because of the need for constant analysis and understanding of the results of the ongoing

transformations.

The purpose of the research is to assess the impact of the widespread introduction of new digital

technologies (the IoT, big data and analytics, robotic systems) on the development of the

country's economy.

In modern conditions, the use of information technologies provides new opportunities to enter

world markets, as well as to develop entrepreneurial activities. The objective of the study is to

conduct a descriptive analysis of the digital quality of life and its correlation with the indicators

of economic development through the systematization of secondary statistical information.

Methods and Materials

The study is based on the statistical data from open sources (OECD, 2019; 2020; The

methodology of the Telefonica Index on Digital Life, 2020; The Heritage Foundation, 2020;

The World Bank, 2020), as well as international studies and world rankings to conduct a

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descriptive analysis of the impact of information technologies on the various aspects of

economic development in the era of industrialization and transition to the new digital society.

To illustrate the results of the analysis, we compare countries that are in the group of leaders,

as well as several countries that close the list with the indicators of economic development.

These countries are France, Germany, Israel, Nicaragua, Russia, South Africa and the USA.

In our analysis, we use the statistics for 2010-2019 and compare various countries from

different groups. The statistical analysis is performed in Microsoft Excel. The data are

processed in several successive stages.

1. Preliminary analysis of the indicators and ratings available in statistics. Selection of the most

significant ones and preparation of baseline data for them.

2. Secondary processing of statistical data to conduct a comparative analysis of various indices.

3. The final stage of the analysis is to combine the results of the assessment and form a general

idea of the issue status.

To assess the economic growth potential in the digital economy, several relevant indicators

have been selected: GDP per capita, PPP; Research and development expenditure, % of GDP;

the Index of Digital Life. The Digital Life Index (The methodology of the Telefonica Index on

Digital Life, 2020) reflects the systemic potential of countries in terms of digitalization. It

involves consideration of the following aspects:

1) the extent to which the country's digital infrastructure provides open access to information;

2) the ease of interaction between the organizations and the country's digital infrastructure;

3) the use of the digital infrastructure for entrepreneurship and innovation. In accordance with

this, the index allows us to assess not only the level of digitalization of the country, but also the

use of digital technologies and business innovations; this characterizes the potential and

readiness for the post-industrial transformation of the economy.

Results

Statistically complete and consistent data were collected from various sources, including, but

not limited to The Organisation for Economic Co-operation and Development (OECD) (2020),

The World Bank Group (2020), The Global Entrepreneurship and Development Institute

(2020). For the analysis, 43 countries were selected. They are characterized by different GDP

levels and, accordingly, fall into different groups in terms of their economic development. The

following countries were analyzed: France, Germany, Israel, Nicaragua, Russia, South Africa

and the USA.

Per capita GDP based on purchasing power parity (PPP) is the gross domestic product converted

into international dollars using purchasing power parity. GDP at purchaser's prices is the sum

of the gross value added of all resident producers in the economy, plus any product taxes and

minus any subsidies not included in the value of the products. It is calculated without making

deductions for the depreciation of fabricated assets or the depletion and degradation of natural

resources. The data are shown in Figure 1.

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Figure 1. GDP per capita (based on (The World Bank, 2020))

According to the diagram, the United States and Germany are the leaders that have the highest

GDP per capita compared to other OECD countries (Fig. 1), such as Nicaragua and South

Africa.

Let us consider the involvement of the countries under consideration in supporting research and

innovative development. To do this, we use the Domestic Research and Development

Expenditure Index, expressed as a percentage of GDP. The data for the selected countries are

presented in Figure 2. The diagram also shows the average values of the Index for the OECD

countries. As we can see, the USA and Germany are also in the group of leaders; however, the

position of Israel is of interest - it indicates the high pace of technology development in the

country.

Figure 2. Domestic research and development expenditure (based on (The World Bank,

2020))

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Thus, it can be concluded that traditionally developed countries have different approaches to

research funding, which significantly affects their potential in digitalization and the transition

to a new post-industrial economy.

The Telefonica Index on Digital Life (TIDL) reflects the systemic capacity of countries to

embrace digital life (The methodology of the Telefonica Index on Digital Life, 2020). The

complexity of TIDL demonstrates the complexity of digitalization in a country. In total, the

Index combines 37 variables characterizing digital transformation and describing three

systemic potentials in 34 countries: digital openness (freedom and openness of the Internet,

digital public services), digital confidence (digital adoption, privacy and security) and digital

entrepreneurship (digital literacy, digital business, innovation and finance). Figure 3 shows the

TIDL values for the selected countries.

Figure 3. The TIDL Index (based on (The methodology of the Telefonica Index on Digital

Life, 2020))

The analysis shows interesting results. First, there is a significant difference between the

countries: the TIDL Index of the USA is twice higher than that of Nicaragua. Secondly, there

is a relationship between the TIDL Index of a country and its per capita GDP. Third, both high-

and low-income countries can beat their GDP expectations. In the analysis (based on (The

methodology of the Telefonica Index on Digital Life, 2020)), the United States ranks first with

96.3 points out of 100. It is followed by Germany (81.0 points), Israel (78.5 points) and France

(78.3). Russia has a relatively good position, but digital entrepreneurship is not sufficiently

developed here. South Africa ranks 19th (62.1 points) and Nicaragua (47.6 points) is the last.

To illustrate the described models, let us build histograms to compare some countries by the

TIDL index and its sub-indices (Fig. 4).

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Figure 4. Digital Life sub-indices (based on (The methodology of the Telefonica Index on

Digital Life, 2020))

The histograms show the sub-indices values (Fig. 4). The USA ranks first. Russia holds a

relatively good position in terms of digital openness and digital confidence; however, it is

obvious that it lags behind in terms of digital entrepreneurship. Israel also demonstrates good

results in the ranking.

Thus, the analysis shows the relationship between the GDP and digitalization indices:

developed countries rank first. A high rate of research expenditure (on the example of Israel)

shows the country's high potential for digital transformations, as evidenced by the fairly high

value of the digital entrepreneurship sub-index.

Ased on the paradigm of using information and communication technologies for doing

business, modern enterprises can gain significant competitive advantages by actively creating

a new virtual environment and a new structure for interaction and doing business in a new

digital environment. Investments in digital infrastructure and building an effective digital

economy are currently considered as the main condition for sustainable development. Thus, it

is arguable that digitalization, including the development of the Internet of things, determines

the active growth of the economy and provides developing countries with great potential.

Discussion

In the last few years, we have been able to observe the development of breakthrough

technologies with new types of mediation, service provision and consumption that are

commonly characterized by digitalization. Digitalization of the economy is regarded as a key

factor of innovation, economic growth and social changes. The Internet of things is a platform

that makes devices smarter; processing - intellectual, and daily communication - informative

(Whitmore et al., 2015; Ray, 2018; Guizani, 2019).

The authors of (Winter & Taylor, 1996) study the similarities between post-industrialization,

which occurred as a result of information technology and the information economy; proto-

industrialization, which was a commodity-based manufacturing economy with a small amount

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of IT; and flexible specialization, an organizational form that was a characteristic feature of the

early industrial period and can still be found in some industries. These similarities bring into

question the argument that the causal relationship between technology and labor organization

is simple or direct.

The work (Roblek et al., 2016) is devoted to the importance and influence of Industry 4.0 and,

therefore, Internet-related technologies for creating value added for organizations and society.

The contribution of the article is mainly of a conceptual nature. The development of the Internet

of things resulted in a new industrial revolution and created Industry 4.0. The authors of the

article made an attempt to summarize popular theories and practices of Industry 4.0 and explore

the changes that will be brought by Industry 4.0 and the Internet of Things.

The article (Whitmore et al., 2015) discusses the current research on the Internet of things: the

authors study the literature, identify current trends, describe the problems that threaten the

spread of the IoT, present open research questions and future directions. Although the Internet

of Things has not found its own form, it has already proved itself as an incredibly successful

universal solution for a connected scenario (Ray,2018). The future is the Internet of things,

which will turn real-world objects into smart virtual objects. The goal of the IoT is to create a

common infrastructure to give people control over the things around them, as well as to provide

information on the state of affairs.

Innovations in production and services based on cyber-physical systems are two inevitable

trends and problems for processing industries (Lee et al., 2014; Hajiyev, 2019). Today, at

Enterprise 4.0, machines are combined together. The authors of (Lee et al., 2014) consider

transformation trends of production services in the big data environment, as well as the

readiness of intelligent predictive informatics tools for managing big data to ensure

transparency and efficiency. The concept of Industry 4.0 has attracted a lot of attention in recent

publications (Lee et al., 2014; Roblek et al., 2016; Zhong et al., 2017). It is closely related to

the concept of the Internet of Things (IoT) (Lu, 2017). A comprehensive review of Industry 4.0

is presented in (Lu, 2017). There is also an overview of the contents, scope and conclusions of

Industry 4.0 based on the literature available. The problems and trends of future research on

Industry 4.0 are also discussed in (Zhong et al., 2017). The authors describe global changes in

intellectual production, including government strategic plans of different countries, as well as

strategic plans of the largest international companies in the European Union, USA, Japan and

China.

The global industrial landscape has dramatically changed over the past few years due to

consistent technological developments and product innovations. The concept of "Industry 4.0"

has appeared and attracted the attention of the scientific world. However, it is still

uncoordinated or poorly defined the study (Pereira & Romero, 2017) presents a literature review

to study the concept in its technological dimension. This new industry paradigm blurs the lines

between the digital and physical world through cyberphysical systems enhanced by the Internet

of Things; it is expected to have an influence on the industry, markets and economies by

improving production processes, increasing productivity, affecting the product life cycle,

creating new business models, changing working conditions and restructuring the labor market

(Pereira & Romero, 2017; Borisova et al., 2019).

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Thus, the concept of Industry 4.0 provides the basis for transformation and a new economic

perspective for the industry. The Internet of Things will turn real-world objects into smart

virtual objects. Such an environment generates an unprecedented amount of industrial data and

is instrumental in the new industrial revolution.

Conclusion

The creation of an effective digital economy infrastructure is currently the main condition for

increasing the international competitiveness of middle-income countries focused on reducing

the development gap. From the national perspective, investments in the digital economy can be

a tool that supports sustainable development and increases convergence at the regional level. In

this context, comparative studies on the digital economy development at the national and

regional levels should be considered as an urgent and important scientific task. Today, the trend

towards the digital revolution in production is known as Industry 4.0. However, the future,

technological boundaries and applicability of this change have not been determined. Therefore,

the adoption of this paradigm shift still requires additional research to further develop

knowledge about the drivers and achievements of Industry 4.0.

The modern economy is gradually developing in a technological format: it is switching to a

virtual economic system. The digital economy is a new paradigm of economic development; it

restructures business relationship based on the use of information. New network information

technologies are the main factors of economic globalization; they contribute to the rapid

transition of economic agents from the real economy to the networked economy sector ensuring

the development of the digital economy and the formation of innovative business processes.

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