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Innovation Policy and Artificial Intelligence in the Business and Economic Transformation of the European Freight Transport Industry

In: International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020)

Author

Listed:
  • Amalia-Elena Ion

    (Valahia University of Targoviste, Romania)

  • Denisa-Atena Costovici

    (Valahia University of Targoviste, Romania)

Abstract

A knowledge-intensive company is one that employs 20% of its workforce in research and development, having to manage the unique and intellectual property of the company. The latter is part of a growth-oriented business culture, basing its operations on innovation, a factor that permits a series of advantages, including tax reliefs. Moreover, the business would, especially in the actual economic conditions, has to make use of artificial intelligence, with the scope of analysing data, employing learning algorithms for efficiency and effectiveness of operations and strategy, and predicting patterns, correlations and, ultimately, developing models and policy functions. Although, there are some constraints in the world of knowledge-intensive services, especially that of the freight transport industry, as well as in the usage and implementation of AI, consisting of the lack or limited availability of data, infrastructure limitations, data retrieval capacity, computer machine learning software etc., the advantages of using AI in the problem-solving operations of knowledge enterprises determines a client-oriented approach, the strategic concentration on the problem-solving and innovation system creation, with the simple utilization of knowledge for the generation of tangible and intangible values. The research question of the present paper collides between those concepts, and develops on the proposition of a model for the intensive usage of AI in the knowledge-intensive freight transport industry and the related policy decision-making. The article includes a regression analysis on a World Bank database correlating the logistics performance, air freight transport, and railway freight transport to economic, business, social and technology-related variables. The findings are congruent with the basic need for implementation within the freight industry of updated policy, business transformation, knowledge-intensive services and AI algorithms.

Suggested Citation

  • Amalia-Elena Ion & Denisa-Atena Costovici, 2020. "Innovation Policy and Artificial Intelligence in the Business and Economic Transformation of the European Freight Transport Industry," Book chapters-LUMEN Proceedings, in: Marcin Waldemar STANIEWSKI & Valentina VASILE & Adriana Grigorescu (ed.), International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020), edition 1, volume 14, chapter 13, pages 168-186, Editura Lumen.
    • Handle: RePEc:lum:prchap:14-13
    DOI: https://doi.org/10.18662/lumproc/ibmage2020/13
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    References listed on IDEAS

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    1. Muller, Emmanuel & Doloreux, David, 2009. "What we should know about knowledge-intensive business services," Technology in Society, Elsevier, vol. 31(1), pages 64-72.
    2. Lafuente, Esteban & Vaillant, Yancy & Vendrell-Herrero, Ferran, 2017. "Territorial servitization: Exploring the virtuous circle connecting knowledge-intensive services and new manufacturing businesses," International Journal of Production Economics, Elsevier, vol. 192(C), pages 19-28.
    3. Windrum, Paul & Tomlinson, Mark, 1999. "Knowledge-intensive services and international competitiveness: a four country comparison," Research Memorandum 023, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    4. Grigorescu Adriana & Maer Matei Monica Mihaela & Mocanu Cristina & Zamfir Ana-Maria, 2019. "Key drivers and skills need for innovative companies focused on sustainability," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 13(1), pages 717-727, May.
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    More about this item

    Keywords

    Innovation policy and economy; AI; Freight transport industry; Business transformation; Knowledge-intensive companies; KIS;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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