INNOVATIVE DEVELOPMENT OF INDUSTRIAL ENTERPRISES IN THE CURRENT ENVIRONMENT
DOI:
https://doi.org/10.37332/Keywords:
innovation, innovative development of the enterprise, digitalization, business process, artificial intelligenceAbstract
Vavrynets V.Ya. INNOVATIVE DEVELOPMENT OF INDUSTRIAL ENTERPRISES IN THE CURRENT ENVIRONMENT
Purpose. The aim of the study is to analyse the theoretical foundations and practical aspects of innovative development of enterprises in the context of modern challenges, with an emphasis on the integration of digitalization and the application of artificial intelligence as key drivers of competitiveness and sustainable development.
Methodology of research. The article uses a systematic approach, general and special research methods, in particular: methods of comparative analysis, content analysis of recent publications and research in the field of innovative development of enterprises, in particular the application of artificial intelligence; deduction and induction – to formulate scientific hypotheses, laws and principles; formal-logical – for theoretical generalizations, justification of the research methodology, and formulation of conclusions; monographic – for researching the content of innovative enterprise development; the method of analysis and synthesis, which allowed for the systematization of scientific approaches to innovative enterprise development.
Findings. The necessity of intensifying innovative activity of enterprises as the only effective way of economic development in modern conditions is substantiated. The study found that innovation is a key driver of modern enterprise development, contributing to the transformation of technological, organizational, and management processes. It was proved that innovative activity encompasses not only the introduction of new products and technologies, but also profound changes in the structure of thinking, corporate culture, and organizational interaction within the enterprise. An assessment of investments in artificial intelligence was carried out. It was analysed that in the context of rapid changes in the global market, digitalization, and increased competition, the innovative capacity of an enterprise determines its competitiveness and adaptability. Particular attention was paid to the role of artificial intelligence as a strategic resource within Industry 4.0. It was concluded that its integration into management and production processes significantly increases efficiency and opens up new opportunities for sustainable development and market growth.
Originality. It was proved that the integration of artificial intelligence into the innovative development of an enterprise, unlike existing approaches, makes it possible to radically rethink strategic goals and business processes, ensuring increased efficiency and competitiveness in the context of digitalization. It was established that generative artificial intelligence models are a powerful tool for optimizing business processes, which, unlike traditional methods, allows for the processing of large data sets with greater speed and accuracy, opening up new opportunities for innovation in manufacturing, finance, and the public sector. It was substantiated that a model of innovative enterprise development that combines strategic adaptation and systemic renewal with digital transformation and technology integration (including the Internet of Things and big data analytics), unlike existing models, will enable the creation of a flexible and sustainable innovation ecosystem. The understanding of the role of artificial intelligence as a multidisciplinary catalyst that transforms not only production but also management, logistics, and marketing processes, contributing to the formation of new business opportunities, has been further developed.
Practical value. The proposed approach to organizing innovative development of enterprises will enable them to comprehensively integrate innovative technologies, optimize business processes, and quickly adapt to changes in the external environment, such as increased competition and technological trends.
Key words: innovation, innovative development of the enterprise, digitalization, business process, artificial intelligence.
References
1. Shumpeter, J.A. (2014), Teoriia ekonomichnoho rozvytku. Doslidzhennia prybutkiv, kapitalu, kredytu, vidsotka ta ekonomichnoho tsyklu [Theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle], Translated from English by V. Stark, 2nd ed., Vydavnychyi dim “Kyievo-Mohylianska akademiia”, Kyiv, Ukraine, 246 p.
2. Yemelianov, O.Yu. (2020), “Innovative development of enterprises: essence, sequence of evaluation, and obstacles on its path”, Efektyvna ekonomika, no. 11, DOI: https://doi.org/10.32702/2307-2105-2020.11.7.
3. Myhus, I.P. and Koval, Ya.S. (2021), “Innovative development of enterprises in the context of digitalization of the economy”, Vcheni zapysky Universytetu “KROK”, no. 2(62), pp. 159.–165, DOI: https://doi.org/10.31732/2663-2209-2021-62-159-165
4. Shuberanskyi, V.E. (2024), “Interpretation of the theory of innovation in the Ukrainian intellectual space”, Innovatsiina ekonomika, no. 2[98], pp. 90–97.
5. Doroshkevych, K.O., Kolinko, N.O. and Dzvonyk, R.Ya. (2024), “Innovative development of an enterprise: essence, significance, and visualization of components”, Ekonomichnyi prostir, no. 190, pp. 8–14.
6. Krysovatyi, I.A. (2024), “The concept of innovation parks in economic development”, Innovatsiina ekonomika, no. 3[99], pp. 47–54.
7. Piletska, S.T. and Tkachenko, Ye.V. (2020), “Formation of the strategy for innovative development of an enterprise”, Ekonomichni studii, no. 1, pp. 146–150.
8. Chernyshova, T.V. (2023), “Open innovations as a comprehensive mechanism of modern innovative development”, Innovatsiina ekonomika, no. 4[96], pp. 125–134.
9. Dankevych, V.Ye. and Dankevych, A.Ye. (2024), “Internet of Things and artificial intelligence as key elements of innovative development of enterprises in the era of digital challenges”, Aktualni problemy ekonomiky, no. 7, pp. 165–173.
10. Savras, I.Z. and Fedynets, N.I. (2023), “Digitalization and innovative development of an enterprise: Trends, problems, and prospects”, Visnyk LTEU. Ekonomichni nauky, no. 74, pp. 108–114.
11. Kinarov, V. and Alkema, V. (2024), “Adaptive strategies for the development of small businesses in the context of integrating digital technologies based on artificial intelligence”, Vcheni zapysky Universytetu “KROK”, no. 3(75), pp. 143–149.
12. The FT AI glossary (n.d.), Artificial Intelligence, available at: https://www.ft.com/content/c0c8d205-e158-409e-963c-a3ac821cd7ba?utm_source=chatgpt.com (access date January 09, 2025).
13. Criddle, C. (n.d.), “What is artificial intelligence and how does it work?”, Financial Times, available at: https://www.ft.com/content/bde93e43-7ad6-4abf-9c00-8955c6a9e343?utm_source=chatgpt.com (access date January 09, 2025).
14. Ivanenko, A. and Pichyk, K. (2024), “Generative models of artificial intelligence as an effective tool for optimizing business processes”, Empirio, no. 1, pp. 112–121.
15. Baranov, O.A. (2023), “Definition of the term “artificial intelligence”, Informatsiia i pravo, no. 1 (44), pp. 32–49.
16. Baranov, O.A. (2022), Transformatsiia: sotsialna & tsyfrova & pravova [Transformation: Social & digital & legal], monograph, Vol. 1. Poriatunok tsyvilizatsii: ekonomika, Vydavnychyi dim “Helvetyka”, Odesa, Ukraine, 272 p.
17. Pizhuk, O.I. (2019), “Artificial intelligence as one of the key drivers of digital transformation of the economy”, Ekonomika, upravlinnia ta administruvannia, no. 3(89), pp. 41–46.
18. Statista (n.d.), Artificial intelligence (AI) in labour and productivity, available at: https://www.statista.com/topics/11516/artificial-intelligence-ai-in-labor-and-productivity/ (access date January 11, 2025).
Downloads
Published
Issue
Section
License
Open-access articles (open-access journals)
Authors whose articles are published in open-access retain all rights to the content of the articles.
Open access articles are committed to be published under Creative Commons Attribution (CC BY) 4.0. This license allows others to distribute, edit, correct and build upon your work, even commercially, as long as they indicate your authorship. Detailed information at Creative Commons site: https://creativecommons.org/licenses/by/4.0/
Permissions for open-access journals
If the article is published in open-access under CC BY 4.0 or CC BY-NC 4.0 (which was possible till the 15th of December, 2018) licenses, users may reproduce it in accordance with their terms.
Additionally, if the article had been published under CC BY-NC 4.0 (this license authorizes others to download your works and share them with others as long as they indicate your authorship, but they can’t use them commercially in any case.), the use for the following commercial purposes requires permission:
– reproduction of content in a work or product intended for sale;
– reproduction in presentations, brochures or other marketing materials used for commercial purposes;
– distribution of the content to promote or market a person, product, course, service or organization;
– text and data mining for the purpose of creating a saleable product or product which benefits from promotional or advertising revenue;
– use of the content by a commercial entity or individual for the purposes of remuneration, directly or indirectly through sale, licensing, promotion or advertising;
– linking to the content (in an email, webpage, portable electronic device or otherwise) for the specific purpose of marketing or advertising a person, product, course, service or organization for commercial benefit.
For further details and permission requests, please contact.