Fermatean Fuzzy CRITIC-COPRAS Method for Evaluating the Challenges to Industry 4.0 Adoption for a Sustainable Digital Transformation

Mahyar Kamali Saraji, Dalia Streimikiene and Grigorios L. Kyriakopoulos
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Mahyar Kamali Saraji: Kaunas Faculty, Vilnius University, Muitines 8, LT-44280 Kaunas, Lithuania
Dalia Streimikiene: Kaunas Faculty, Vilnius University, Muitines 8, LT-44280 Kaunas, Lithuania
Grigorios L. Kyriakopoulos: School of Electrical and Computer Engineering, Electric Power Division, Photometry Laboratory, National Technical University of Athens, 9 Heroon Polytechniou Street, 15780 Athens, Greece

Sustainability, 2021, vol. 13, issue 17, 1-20

Abstract: Decision and policymakers are looking at the potential of Industry 4.0 smart technologies to create a green economy as the European Commission aims to deliver the European Green Deal by rethinking policies for clean energy supply. Industry 4.0 will eventually be applied to all aspects of life; however, it is necessary to identify the challenges to the adoption of Industry 4.0 for a sustainable digital transformation. In this vein, the present study aims to identify the challenges to the adoption of Industry 4.0 in fintech companies and to develop a novel Fermatean fuzzy CRITIC-COPRAS method to rank the identified challenges and evaluate the performance of companies concerning the weighted challenges based on three decision experts’ support. The results indicated that “difficulty in coordination and collaboration” is the most significant challenge to the adoption of Industry 4.0 out of the fourteen identified challenges, followed by “resistance to change” and “governmental support.” In addition, the superiority and efficiency of the proposed method were investigated through comparative analyses.

Keywords: sustainable transformation; MCDA; society 5.0; digital society; digitalization (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

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