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Technology-Intense Service Offerings in the Light of Economic Complexity: Establishing a Holistic Service Ecosystem

Author

Listed:
  • Veronika Belousova

    (National Research University Higher School of Economics (Russia))

  • Nikolai Chichkanov

    (National Research University Higher School of Economics (Russia))

  • Grigory Gashnikov

    (National Research University Higher School of Economics (Russia))

  • Zhaklin Krayushkina

    (University of Geneva (Switzerland))

  • Thomas Thurner

    (National Research University Higher School of Economics (Russia))

Abstract

Crisis situations, like the COVID-19 pandemic, have historically been identified as times of enhanced innovation and entrepreneurial activities. Innovation actors are required to respond quickly to a new situation bearing in mind the effects of actions across their network of partners and competitors as well as rising economic complexity. Indeed, first indications suggest that this pandemic is no different and has facilitated the use of digital technologies. In order to assess these developments, this paper studies new service offerings based on digital technologies using the example of three major Russian banks. We found that banks have now developed into technology platforms that use their experience to engage in areas like education, advanced robotics, and health care. Technologies developed by partner organizations, such as the integration of blockchain solutions, have spread rapidly. Thereby, banks have obtained a strategic advantage for launching innovations in the financial industry, including technology and knowledge transfers from other industries.

Suggested Citation

  • Veronika Belousova & Nikolai Chichkanov & Grigory Gashnikov & Zhaklin Krayushkina & Thomas Thurner, 2023. "Technology-Intense Service Offerings in the Light of Economic Complexity: Establishing a Holistic Service Ecosystem," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 17(1), pages 7-17.
    • Handle: RePEc:hig:fsight:v:17:y:2023:i:1:p:7-17
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    References listed on IDEAS

    as
    1. Fan, Haichao & Lai, Edwin L.-C. & Li, Yao Amber, 2015. "Credit constraints, quality, and export prices: Theory and evidence from China," Journal of Comparative Economics, Elsevier, vol. 43(2), pages 390-416.
    2. Tacchella, A. & Cristelli, M. & Caldarelli, G. & Gabrielli, A. & Pietronero, L., 2013. "Economic complexity: Conceptual grounding of a new metrics for global competitiveness," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1683-1691.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    banking; COVID-19; anti-crisis strategies; digitalization; diversification; economic complexity; service innovation; service offerings; technological platforms; fintech;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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