Emerging Trends and Opportunities for Industry 4.0 Development in Russia

S. Vasin, Leyla Gamidullaeva, E. Shkarupeta, I. Palatkin and T. Vasina

European Research Studies Journal, 2018, vol. XXI, issue 3, 63-76

Abstract: The fourth industrial revolution is the blending of technologies of the physical, digital and biological world, which creates new opportunities and affects political, social and economic systems.The fourth industrial revolution fundamentally transforms modern production, thanks to new technological achievements, including digitalization and robotization, artificial intelligence and the Internet of things (IoT), new materials and biotechnology. Due to these changes, production in developed countries again becomes the main source of prosperity and creation of new jobs.In this paper, the authors aimed at providing a better understanding for Industry 4.0 concept and its application benefits for Russia. The main problem is how the Russian Federation acts against the economically developed countries, which are the creators of Industry 4.0. This paper mainly focuses on presenting the authors views on how to sustain and increase competitive advantage of the Russian Federation by catching and implementing Industry 4.0. With Industry 4.0, Russian Federation get a bigger share of the world manufacturing value chain.In this paper, the authors aimed at providing a better understanding for Industry 4.0 concept and its application benefits for Russia. The main problem is how the Russian Federation acts against the economically developed countries, which are the creators of Industry 4.0. This paper mainly focuses on presenting the authors views on how to sustain and increase competitive advantage of the Russian Federation by catching and implementing Industry 4.0. With Industry 4.0, Russian Federation get a bigger share of the world manufacturing value chain.

Keywords: Industry 4.0; Manufacturing; Industrialization; Digital Economy (search for similar items in EconPapers)
JEL-codes: G21 G29 (search for similar items in EconPapers)
Date: 2018
References: View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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