ABSTRACT. This article presents an empirical study carried out to evaluate and analyze Internet of Things sensing networks, artificial intelligence-based decision-making algorithms, and real-time process monitoring in sustainable Industry 4.0. Building our argument by drawing on data collected from Algorithmia, BCG, Deloitte, the Economist Intelligence Unit, Management Events, McKinsey, Ovum, PwC, and Techconsult, we performed analyses and made estimates regarding interconnected data processing in smart manufacturing and business analytics. Data collected from 6,200 respondents are tested against the research model. Descriptive statistics of compiled data from the completed surveys were calculated when appropriate.
JEL codes: E24; J21; J54; J64

Keywords: sustainability; Industry 4.0; Internet of Things; sensing network; big data

How to cite: Nica, E., and Stehel, V. (2021). “Internet of Things Sensing Networks, Artificial Intelligence-based Decision-Making Algorithms, and Real-Time Process Monitoring in Sustainable Industry 4.0,” Journal of Self-Governance and Management Economics 9(3): 35–47. doi: 10.22381/jsme9320213.

Received 16 March 2021 • Received in revised form 11 September 2021
Accepted 14 September 2021 • Available online 18 September 2021

Elvira Nica
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The Center for Human Resources and Labor Studies
at AAER, New York City, NY, USA;
The Bucharest University of Economic Studies, Romania
(corresponding author)
Vojtech Stehel
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The School of Expertness and Valuation,
The Institute of Technology and Business
in Ceske Budejovice, Czech Republic

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