Artificial Intelligence and Smart Manufacturing: An Analysis of Strategic and Performance Narratives
This paper examines how artificial intelligence and smart manufacturing concepts are reflected in the business strategy and performance narratives of major industrial corporations. A qualitative analysis of annual reports from the 20 largest global industrial companies listed on US stock exchange...
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| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Editura ASE
2024-05-01
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| Series: | Amfiteatru Economic |
| Subjects: | |
| Online Access: | https://www.amfiteatrueconomic.ro/temp/Article_3309.pdf |
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| Summary: | This paper examines how artificial intelligence and smart manufacturing concepts are
reflected in the business strategy and performance narratives of major industrial corporations.
A qualitative analysis of annual reports from the 20 largest global industrial companies listed
on US stock exchanges was conducted using QDA Miner software. The analysis focused on
uncovering connections between smart manufacturing, strategy, and performance themes
based on code frequencies, co-occurrences, and proximity, being the first study in the
literature with this objective. Through this methodical analysis of the association between
‘smart’ technologies and the strategic elements of companies in the industrial sector, present
in the investor interface represented by annual reports, the article contributes to a better
understanding of how technological development has shaped this economic sector. Key
findings reveal that while smart manufacturing codes were less frequent, ‘robots and
automation’, ‘cybersecurity’, and ‘sensors’ displayed higher frequencies, reflecting an
emphasis on Industry 4.0 integration. Cluster analysis uncovered a prominent linkage
between ‘cybersecurity’ and strategy/performance codes, highlighting its growing influence.
Additionally, concepts such as ‘artificial intelligence’, ‘cloud’ and ‘digitalization’ showed
robust connections with strategy/performance code. The analysis emphasises the strategic
prioritisation of technological innovation to enhance operations and competitive positioning.
Overall, the study’s investigation of annual reports underscores technology’s profound
impact in shaping strategic objectives, performance frameworks, and operational approaches
within the manufacturing sector. The observed correlations illuminate the critical
interdependencies between smart manufacturing, strategy formulation, and the realisation of operational excellence. This research contributes valuable qualitative insights into the
evolving digital landscape of industrial practices |
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| ISSN: | 1582-9146 2247-9104 |