Vol 18, No 2 (2024)
STRATEGIES
A Review of the Knowledge Worker as Prompt Engineer: How Good is AI at Societal Analysis and Future Predictions?
Abstract
What is the literature on AI missing for prompting engineering so far, and how good are these services at Societal Analysis and Future Predictions? A literature review and laboratory tests were conducted using different AI services.
This study provides an extensive list of research gaps based on an analysis of existing literature. Furthermore, it demonstrates that AI with well-crafted prompts performs as well as or better than senior intelligence analysts in Societal Analysis and Future Predictions. The literature and analysis make it clear that the role of the prompter, to ensure reliability, must be divided into two parts: Prompt Engineering and Information Quality Control (IQC), which in this context is distinct from Prompt Answer Engineering. This study also proposes a working process in the form of a model for using AI in information or intelligence gathering. Additionally, it outlines the rationale for why top managers’ salaries are likely to decrease as a result of these developments.



The AI-Driven Transformative Potential of the Gaming Industry for the Economy and Society
Abstract
Computer game production has long transcended the entertainment industry to become a complex, high-tech, innovative, highly profitable field with transformative potential for other sectors. It synthesizes technical and humanities disciplines such as artificial intelligence (AI), virtual reality, behavioral psychology, cognitive science, design, agent-based modeling, scenario planning, Foresight, complex systems science, and others. This paper explores the prospects of expanding this interdisciplinary field through the application of more sophisticated technologies, including AI algorithms. Foresight methodology was used, including such tools as horizon scanning, analysis of scientific, technological, political, economic, and value factors, the assessment of effects and uncertainty, as well as expert surveys. The collected dataset formed the basis for four scenarios for the industry in Malaysia over the next ten years. This study contributes to informing policy rationale for the use of AI for game development for various purposes, including strategic planning practices.



The Relationship between Corporate Political Strategy of Public Partnership and Corporate Investment
Abstract
This research endeavors to elucidate the dynamics between Corporate Political Activity (CPA) and corporate investment by harnessing advanced econometric techniques, specifically quantile regression and dynamic panel data analysis. The empirical investigation encompasses a comprehensive dataset of 368 entities listed in Fortune World's Most Admired Companies spanning from 2016 to 2022. The empirical results illuminate the intricate relationship between CPA and corporate investment, indicating that firms engaging in politically strategic maneuvers typically demonstrate elevated investment rates in comparison to their counterparts devoid of such political strategization. Notably, this inquiry unveils a complex pattern, whereby CPA exerts a detrimental impact on corporate investment at superior quantiles (notably, the 80th and 90th percentiles), whereas an inverse effect is observed at the lower quantiles (specifically, the 10th and 20th percentiles). Furthermore, the analysis delineates an inverted V-shaped correlation between CPA and corporate investment, suggesting a nuanced interaction that varies across different levels of investment intensity. In examining firm-specific attributes, the influence of CPA on corporate investment appears to attenuate in entities characterized by substantial size and robust economic and technical prowess. Such firms exhibit diminished dependency on governmental support for their investment ventures, highlighting the differential impact of CPA based on firm-specific characteristics and strategic dispositions.



ICT Profiles of Russian Companies at the Industry Level: Resource Management Strategies
Abstract
The study investigates the Russian information and communication technologies (ICT) landscape with a focus on sustainable ICT combinations at the industry level. The ICT combination for a company reflects its ICT profile, which is considered in resource theory as the firm’s ability to create competitive advantages based on resource complementarity. Unlike previous papers, it is not an expert-specified combination of ICT that is being studied, but a tool for the automated search for interconnected technologies based on machine learning methods is proposed, which makes it possible to identify stable combinations implemented simultaneously by several companies in a certain industry. ICT profile identification was conducted based on the analysis of relationships across a wide range of IT, from basic infrastructure to AI-based business efficiency management systems. The final dataset includes 110 IT technologies for over 29,000 companies from 31 industries spanning from 2006 to 2022. The following conclusions were drawn: (1) a typical profile for most industries consists of a combination of business process management (BPM) and software as a service (SaaS), (2) insurance and finance industries are the leaders in the diversity and complexity of ICT profiles, (3) supplementing ICT profiles with AI-based solutions holds great potential for Russian companies, (4) the implementation of ICT profiles is linked to companies’ financial performance; however, these relationships vary significantly across industries.



SUSTAINABLE DEVELOPMENT
Foodtech as Part of the Circular Economy
Abstract
Increasing food prices, intensifying competition, and even the need for sustainable operations lead players in the food sector to innovative strategies. Food Loss and Waste (FLW) is a major issue, the solution for which could significantly contribute not only to the achievement of Sustainable Development Goals (SDGs) but through novel approaches to the competitiveness and financial success of said actors. FLW studies are often related to production, while the retailers have not been broadly researched. Food upcycling has been emerging as an innovative solution, to transfer food loss into marketable food products. The current study analyzes the surplus-based upcycled food products’ consumer acceptance and the competitive advantages that could be realized by the exploitation of this innovative approach. Following the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) guidelines, some of the essential product features could be observed based on academic publications. The upcycled food is not well-known. Individuals who are environmentally conscious most support this type of product. However, the low level of processing was seen as a desirable feature for everyone. Due to the low level of processing, technophobia should not hamper, but rather support the spread and use of surplus-based products. Similar to conventional food, taste, sensory appeal, and price are those characteristics that can influence consumers’ decision-making. Without a significant increase in marketing expenditures, innovative retailers can influence potential customer engagement through comprehensive and educational advertising. Offline presentations and trials are consistently more persuasive in involving customers, but the significance of online information sharing is equally important. These results imply that innovative businesses, by selling upcycled food, could realize competitive advantages from multiple sources while contributing to the SDGs.



Advanced Technologies for Bioeconomy: The Case of Microalgae Production
Abstract
This article presents a meticulous examination of the global microalgae market, analyzing opportunities and prospects rooted in the scientific and technical interest in products derived from microalgae. The research systematically assesses the potential commercialization of these products across diverse regions worldwide, identifies the most promising microalgae strains, the product types themself, and their potential applications. An integral aspect of this research involves a forward-looking market forecast. The analysis of scientific and technical interest delves into publication activity, considering the yearly output of works in Scopus-indexed journals utilizing the main keyword “microalgae”. This assessment is presented chronologically, categorically, and regionally, offering a nuanced perspective on the evolution of interest over time and in different geographical contexts. The commercialization potential is regionally scrutinized with a focus on key regions conducive to the development of microalgae-based products, namely the Americas (USA), Asia-Pacific (China, Japan), and Europe (Germany). This evaluation is interlinked with the prevailing market dynamics in each region, providing a holistic understanding of the market landscape.
This article contributes original insights derived from the analysis, offering a nuanced perspective on the microalgae market. It introduces a distinctive and informed viewpoint, enriching existing knowledge of microalgae markets. By categorizing the microalgae market based on applications, including nutraceuticals and pharmaceuticals, food and beverages, cosmetics, animal feed, and biofuels, the study identifies sectors exhibiting steady growth. Notably, each of these sectors contributes to the projected average annual growth rate of 6.8 % on the global microalgae market, forecasted to reach USD 2 billion by 2030. This growth trajectory emphasizes the growing importance and potential of microalgae-derived products in various industries and the importance of developing the bioeconomy as a whole.



INNOVATION
Overcoming Internal and External Barriers for the Innovative Development of Businesses
Abstract
Recent years have become a stress test for Russian innovative business due to increased internal and external barriers to development. In order to assess the adaptive capacity of firms and their readiness to continue innovation activities in times of crisis, this paper proposes an approach to identifying and systematizing the attitude and expectations of the business community toward the changing framework conditions for innovation. The innovation climate is measured as a set of 47 factors combined into eight groups: markets, competitive environment, material base, availability of human and financial resources, quality of infrastructure, government regulation, and social environment. The analysis is based on the results of a specialized survey of 1,121 high-tech manufacturing and service firms, conducted between January and March 2022. The results show that business perceptions of framework conditions for innovation and areas of inefficiency vary weakly across industries, but are strongly related to firms’ patterns of innovative behavior. Non-innovative firms are the most pessimistic in their assessments. The key barriers to innovation are related to the quality of government regulation and the availability of external financing. The results obtained allow for expanding the understanding of the peculiarities of business adaptation to external constraints and formulating some recommendations for innovation policy.



Intrapreneurship as a Driver of Business Innovation
Abstract
The need for constant renewal with new capabilities and valuable assets in an increasingly complex context represents an extraordinary challenge for companies. One of the most relevant sources is hidden internal resources in the form of the entrepreneurial initiatives of personnel - intrapreneurship. Interest in this new type of entrepreneurship has been growing steadily over the last decade. This article contributes to the understanding of the factors influencing its development using the example of manufacturing enterprises in the most developed states of India. The role of key prerequisites such as individual entrepreneurial ability and acquired competencies (strategic thinking and proactive behavior) as well as the art of cultivating a unique innovation-friendly climate is revealed. The author’s findings strengthen the case for new formats of economic development in addition to classical entrepreneurship. These findings may be useful for decision-makers deciding how to renew and build competitive advantage in a dynamic business environment.


