Financial modeling trends for production companies in the context of Industry 4.0

This study investigates the Millennials and Gen Z perception toward Fintech services, their usage intention, and their financial behavior. The study took place in the Palestinian context with a global comparison among these generations. The authors used the questionnaire-based technique to meet the study objective. West Bank respondents were selected for this purpose; the study instrument was distributed through different social media channels. The findings show that reliability/trust and ease of use are the main issues in using a financial service. Millennials are more aware (48%) of Fintech services than Gen Z (38%), which is different from the global view where Gen Z is the highest. The smartphone penetration rate is 100% among both generations, while the financial inclusion ratio in Palestine is around 36.4%; these clear indicators are the main Fintech drivers to promote Fintech services in Palestine, and these are global indicators for Fintech adoption intention. Both generations (84%) intend to use e-wallet services, Millennials (87%) and Gen Z is (70%) prefer using real-time services. Half of the respondents see that Fintech plays a complementary role with banks. The majority see that Fintech services are cheaper than bank services. Wealth management, and robot advisor services, and both generations are looking to acquire them in the long run. The authors revealed that 85% of respondents from both generations trust banks, so it is recommended that banks digitize their financial services to meet the customers’ needs, considering that 90% of respondents see that promotions are a key issue in adopting Fintech services. Promoting e-wallet services by banks is highly recommended due to the massive rivalry with Fintech parties.

At present times, the impact of new technologies on job creation is going to be a serious problem in personnel management. In the human resources contents, this issue still remains in minor attention. As a result of new communication technologies development in the near future, we will be facing too many changes in working patterns and demands on staff regarding job requirements. Simultaneously with the above stated changes on labor market, a new generation of workers is emerging that grew up with the development of communication technologies, they profess different lifestyle from the one the generations have had before. Many of these generations become employers and bring new approaches to employment of people being different from traditional working patterns. Despite the facts being alleged in this study, it is difficult to estimate to what extent those changes will affect Slovak labor market. Gradual development of technologies is an ongoing process in Slovakia as well and in four years robotics is to be a key technology in most manufacturing plants mainly in automotive industry. Currently, three generations are present on labor market that may have a different approach to changes being implemented nowadays. In this study, the authors analyze the survey results on the use of communication technologies by Generations X, Y, Z, and their abilities to be prepared for changes on labor market. Survey provides interesting information about the access of different generations to communication technologies and their relationship with technical innovations.

The essence of this research is to shed light on use and importance of artificial intelligence (AI) in commercial activity. As such, the objective of the present study is to understand the impact of AI tools on the development of business functions and if they can be affirmed as a means of help or as a substitute for these functions. In-depth interviews were conducted with 15 commercial managers from technological SMEs. The results indicate that all the participants use AI systems frequently, that these tools assist in developing of their functions, allowing having more time and better preparing to solve the commercial problems. The findings also indicate that the tools used by commercials are still somewhat limited, and companies should focus on their training and development in AI, as well as the training of their commercials. Furthermore, the results show that firms intend to use the data collection and the analytical tool that enable real-time response and customization according to customer needs.