Transformation of the economic system under the influence of industry 4.0 technologies

Abstract

Economic development is inextricably linked to the introduction of new technologies that improve production processes, resource management, and economic activity organization. However, the scale and nature of this impact vary significantly depending on the industry, region, and level of technological integration in production, leading to ambiguous consequences for the economy. Given this, the study of mechanisms through which new technologies affect production processes and the identification of patterns of economic system transformation under technological progress conditions is becoming increasingly relevant. In the modern context, it is essential to determine the economic consequences of the widespread adoption of Industry 4.0 technologies, such as artificial intelligence, the Internet of Things, blockchain, and 3D printing. Will these technologies lead to structural shifts in the economic system, or will their impact be limited to improving the efficiency of specific production processes? The answers to these questions will help assess the feasibility and prioritization of stimulating the development of Industry 4.0 technologies. Considering the importance of this issue, the article examines the impact of Industry 4.0 technologies on economic system transformation. The role of key technological innovations, including artificial intelligence, the Internet of Things, blockchain, and 3D printing, is analyzed concerning their influence on production process changes, resource optimization, and the formation of new economic relationships. The historical context of previous technological revolutions is reviewed, comparing their impact with modern changes driven by digitalization and automation.
Theoretical approaches to understanding the diffusion of technology and its influence on economic growth are substantiated, drawing on the concepts of Joseph Schumpeter, Carlota Perez, and Klaus Schwab. Particular attention is paid to the socio-economic consequences of integrating intelligent technologies into production, particularly automation’s impact on the labor market, changes in institutional regulatory mechanisms, challenges of “surveillance capitalism,” and potential solutions. The paper also explores the prospects for the application of Industry 4.0 technologies across various economic sectors, including industry, energy, transportation, healthcare, and finance.
Based on an analysis of current technological innovation trends, conclusions are drawn regarding potential scenarios for the transformation of the economic system in the near future. Key challenges and opportunities for government policy, business, and society in the context of technological development and structural economic changes are identified. The aim of the article is to identify patterns of technological impact on economic processes and to forecast their influence on the structural elements of the economic system in the context of the widespread adoption of Industry 4.0 production models. The study results indicate that at the current stage of the Fourth Industrial Revolution, particularly the transition to the Industry 4.0 production model, artificial intelligence should be considered a breakthrough technology. It radically reduces production costs while enhancing the effectiveness of complementary technologies such as the Internet of Things, 3D printing, and blockchain. Each of these technologies, both individually and collectively, contributes to changes in the established structural elements of the economic system. 3D printing, combined with the infrastructure of the Internet of Things and the computational capabilities of artificial intelligence, simplifies the production of customized goods, altering the structural element of the economic system related to product assortment decisions-essentially answering the question of “what to produce.” Additionally, 3D printing shortens the value chain of product creation, which in turn affects production methods, addressing “how to produce.”
This structural element is also influenced by blockchain technology, which provides opportunities to reduce the transaction costs of regulatory institutions governing economic relations. Finally, the structural element of “for whom to produce” is transformed by the Internet of Things, enabling manufacturers to collect and analyze consumer data, ensuring production adapts to individual needs.