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Artificial Intelligence and Smart Manufacturing: An Analysis of Strategic and Performance Narratives

Author

Listed:
  • Alexandra Horobet

    (Bucharest University of Economic Studies, Romania)

  • Cristiana Doina Tudor

    (Bucharest University of Economic Studies, Romania)

  • Zeno Dinca

    (Bucharest University of Economic Studies, Romania)

  • Dan Gabriel Dumitrescu

    (Bucharest University of Economic Studies, Romania)

  • Eduard Alexandru Stoica

    (Lucian Blaga University of Sibiu, Romania)

Abstract

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.

Suggested Citation

  • Alexandra Horobet & Cristiana Doina Tudor & Zeno Dinca & Dan Gabriel Dumitrescu & Eduard Alexandru Stoica, 2024. "Artificial Intelligence and Smart Manufacturing: An Analysis of Strategic and Performance Narratives," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 26(66), pages 440-440, Aprilie.
    • Handle: RePEc:aes:amfeco:v:26:y:2024:i:66:p:440
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    More about this item

    Keywords

    artificial intelligence (AI); smart manufacturing; qualitative analysis; business strategy; corporate performance;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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