IDEAS home Printed from https://ideas.repec.org/a/spr/gjofsm/v22y2021i3d10.1007_s40171-021-00272-y.html
   My bibliography  Save this article

Impact of Big Data and Artificial Intelligence on Industry: Developing a Workforce Roadmap for a Data Driven Economy

Author

Listed:
  • Marina Johnson

    (Montclair State University)

  • Rashmi Jain

    (Montclair State University)

  • Peggy Brennan-Tonetta

    (Rutgers University)

  • Ethne Swartz

    (Montclair State University)

  • Deborah Silver

    (Rutgers University)

  • Jessica Paolini

    (Rutgers University)

  • Stanislav Mamonov

    (Montclair State University)

  • Chelsey Hill

    (Drexel University)

Abstract

Big Data and Artificial Intelligence (BD&AI) have become so pervasive, and the opportunities they present so transformative, that they are viewed as essential for competitive growth. Since the number of firms adopting BD&AI technologies is growing exponentially, the demand for BD&AI practitioners is also growing at a rapid rate. However, several studies indicate that there is a BD&AI talent shortage and skills gap between labor market requirements and expertise available in the current workforce. This talent shortage and skills gap are now recognized as a crucial impediment in leveraging BD&AI for economic growth at the local, national, and global levels. This research aims to identify BD&AI workforce trends, gaps, and opportunities by using bibliometric analysis and extracting insights from job posting data. The study team first conducted bibliometric research and built word co-occurrence diagrams using BD&AI related articles published in high-impact journals to determine technological changes impacting various industry domains. The team then collected job postings data and summarized the skill sets required to be competitive in industries driven by BD&AI. Finally, the study team evaluated the curricula of BD&AI programs at various colleges and universities educating the future workforce and conducted a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to bridge the gaps between industry needs and academic training. This multi-step research framework forecasts oncoming technological changes in various industry clusters, workforce skills that are and will be needed, and provides recommendations for a workforce development roadmap so that businesses can gain a competitive advantage through the use of BD&AI.

Suggested Citation

  • Marina Johnson & Rashmi Jain & Peggy Brennan-Tonetta & Ethne Swartz & Deborah Silver & Jessica Paolini & Stanislav Mamonov & Chelsey Hill, 2021. "Impact of Big Data and Artificial Intelligence on Industry: Developing a Workforce Roadmap for a Data Driven Economy," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 22(3), pages 197-217, September.
    • Handle: RePEc:spr:gjofsm:v:22:y:2021:i:3:d:10.1007_s40171-021-00272-y
    DOI: 10.1007/s40171-021-00272-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40171-021-00272-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s40171-021-00272-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. ., 2015. "Traditional methods for local and regional economic analysis," Chapters, in: Introduction to Regional Economic Development, chapter 7, pages 96-137, Edward Elgar Publishing.
    2. Madhukar Patil & M. Suresh, 2019. "Modelling the Enablers of Workforce Agility in IoT Projects: A TISM Approach," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(2), pages 157-175, June.
    3. Shiwangi Singh & Sanjay Dhir, 2019. "Structured review using TCCM and bibliometric analysis of international cause-related marketing, social marketing, and innovation of the firm," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 16(2), pages 335-347, December.
    4. Toorajipour, Reza & Sohrabpour, Vahid & Nazarpour, Ali & Oghazi, Pejvak & Fischl, Maria, 2021. "Artificial intelligence in supply chain management: A systematic literature review," Journal of Business Research, Elsevier, vol. 122(C), pages 502-517.
    5. Shiwangi Singh & Ismail Akbani & Sanjay Dhir, 2020. "Service innovation implementation: a systematic review and research agenda," The Service Industries Journal, Taylor & Francis Journals, vol. 40(7-8), pages 491-517, June.
    6. Marta Kuc-Czarnecka & Magdalena Olczyk, 2020. "How ethics combine with big data: a bibliometric analysis," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-9, December.
    7. Colombo, Emilio & Mercorio, Fabio & Mezzanzanica, Mario, 2019. "AI meets labor market: Exploring the link between automation and skills," Information Economics and Policy, Elsevier, vol. 47(C), pages 27-37.
    8. Srivastava, Saurabh & Singh, Shiwangi & Dhir, Sanjay, 2020. "Culture and International business research: A review and research agenda," International Business Review, Elsevier, vol. 29(4).
    9. Sanjai Kumar Shukla & Sushil & Manoj Kumar Sharma, 2019. "Managerial Paradox Toward Flexibility: Emergent Views Using Thematic Analysis of Literature," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(4), pages 349-370, December.
    10. Constantin Anghelache & Mario G.R. Pagliacci & Constantin Mitrut, 2015. "Statistical-Econometric Models used in Economic Analysis," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 63(4), pages 9-15, April.
    11. Lakhwinder Pal Singh & Ravi Teja Challa, 2016. "Integrated Forecasting Using the Discrete Wavelet Theory and Artificial Intelligence Techniques to Reduce the Bullwhip Effect in a Supply Chain," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 17(2), pages 157-169, June.
    12. Erevelles, Sunil & Fukawa, Nobuyuki & Swayne, Linda, 2016. "Big Data consumer analytics and the transformation of marketing," Journal of Business Research, Elsevier, vol. 69(2), pages 897-904.
    13. S. Vijayakumar Bharathi, 2017. "Prioritizing and Ranking the Big Data Information Security Risk Spectrum," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 18(3), pages 183-201, September.
    14. José M. Merigó & Claudio Muller & Nikunja Mohan Modak & Sigifredo Laengle, 2019. "Research in Production and Operations Management: A University-Based Bibliometric Analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(1), pages 1-29, March.
    15. Marta Pérez-Pérez & Canan Kocabasoglu-Hillmer & Ana María Serrano-Bedia & María Concepción López-Fernández, 2019. "Manufacturing and Supply Chain Flexibility: Building an Integrative Conceptual Model Through Systematic Literature Review and Bibliometric Analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(1), pages 1-23, December.
    16. Renu Agarwal & Md. Maruf Hossan Chowdhury & Sanjoy Kumar Paul, 2018. "The Future of Manufacturing Global Value Chains, Smart Specialization and Flexibility!," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 19(1), pages 1-2, March.
    17. Amado, Alexandra & Cortez, Paulo & Rita, Paulo & Moro, Sérgio, 2018. "Research Trends On Big Data In Marketing: A Text Mining And Topic Modeling Based Literature Analysis," European Research on Management and Business Economics (ERMBE), Academia Europea de Dirección y Economía de la Empresa (AEDEM), vol. 24(1), pages 1-7.
    18. Purva Grover & Arpan Kumar Kar, 2017. "Big Data Analytics: A Review on Theoretical Contributions and Tools Used in Literature," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 18(3), pages 203-229, September.
    19. Di Vaio, Assunta & Palladino, Rosa & Hassan, Rohail & Escobar, Octavio, 2020. "Artificial intelligence and business models in the sustainable development goals perspective: A systematic literature review," Journal of Business Research, Elsevier, vol. 121(C), pages 283-314.
    20. Hal R. Varian, 2014. "Big Data: New Tricks for Econometrics," Journal of Economic Perspectives, American Economic Association, vol. 28(2), pages 3-28, Spring.
    21. Angappa Gunasekaran & Rameshwar Dubey & Surya Prakash Singh, 2016. "Flexible Sustainable Supply Chain Network Design: Current Trends, Opportunities and Future," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 17(2), pages 109-112, June.
    22. Singh, Shiwangi & Dhir, Sanjay & Das, V. Mukunda & Sharma, Anuj, 2020. "Bibliometric overview of the Technological Forecasting and Social Change journal: Analysis from 1970 to 2018," Technological Forecasting and Social Change, Elsevier, vol. 154(C).
    23. Sophie Cockcroft & Mark Russell, 2018. "Big Data Opportunities for Accounting and Finance Practice and Research," Australian Accounting Review, CPA Australia, vol. 28(3), pages 323-333, September.
    24. Palmaccio, Matteo & Dicuonzo, Grazia & Belyaeva, Zhanna S., 2021. "The internet of things and corporate business models: A systematic literature review," Journal of Business Research, Elsevier, vol. 131(C), pages 610-618.
    25. Kokina, Julia & Blanchette, Shay, 2019. "Early evidence of digital labor in accounting: Innovation with Robotic Process Automation," International Journal of Accounting Information Systems, Elsevier, vol. 35(C).
    26. Waltman, Ludo & van Eck, Nees Jan & Noyons, Ed C.M., 2010. "A unified approach to mapping and clustering of bibliometric networks," Journal of Informetrics, Elsevier, vol. 4(4), pages 629-635.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ali Katebi & Mohammad Hossain HajiZadeh & Ali Bordbar & Amir Masoud Salehi, 2022. "The Relationship Between “Job Satisfaction” and “Job Performance”: A Meta-analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(1), pages 21-42, March.
    2. Arpan Kumar Kar & Sunil Kumar & P. Vigneswara Ilavarasan, 2021. "Modelling the Service Experience Encounters Using User-Generated Content: A Text Mining Approach," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 22(4), pages 267-288, December.
    3. Murilo Catussi Almeida & Adilson Carlos Yoshikuni & Rajeev Dwivedi & Cláudio Luís Carvalho Larieira, 2022. "Do Leadership Styles Influence Employee Information Systems Security Intention? A Study of the Banking Industry," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(4), pages 535-550, December.
    4. Luay Jum’a & Muhammad Ikram & Ziad Alkalha & Maher Alaraj, 2022. "Do Companies Adopt Big Data as Determinants of Sustainability: Evidence from Manufacturing Companies in Jordan," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(4), pages 479-494, December.
    5. Mahathir Mohammad Bappy & John Key & Niamat Ullah Ibne Hossain & Raed Jaradat, 2022. "Assessing the Social Impacts of Additive Manufacturing Using Hierarchical Evidential Reasoning Approach," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(2), pages 201-220, June.
    6. Alex V. Teixeira & Denis Alcides Rezende, 2023. "A Multidimensional Information Management Framework for Strategic Digital Cities: A Comparative Analysis of Canada and Brazil," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(1), pages 107-121, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shiwangi Singh & Sanjay Dhir & Stuart Evans & Sushil, 2021. "The Trajectory of Two Decades of Global Journal of Flexible Systems Management and Flexibility Research: A Bibliometric Analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 22(4), pages 377-401, December.
    2. Singh, Shiwangi & Sharma, Meenakshi & Dhir, Sanjay, 2021. "Modeling the effects of digital transformation in Indian manufacturing industry," Technology in Society, Elsevier, vol. 67(C).
    3. Sujan Piya & Ahm Shamsuzzoha & Mohammad Khadem & Nasr Al-Hinai, 2020. "Identification of Critical Factors and Their Interrelationships to Design Agile Supply Chain: Special Focus to Oil and Gas Industries," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(3), pages 263-281, September.
    4. Srivastava, Saurabh & Singh, Shiwangi & Dhir, Sanjay, 2020. "Culture and International business research: A review and research agenda," International Business Review, Elsevier, vol. 29(4).
    5. Gupta, Shivam & Justy, Théo & Kamboj, Shampy & Kumar, Ajay & Kristoffersen, Eivind, 2021. "Big data and firm marketing performance: Findings from knowledge-based view," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    6. Ali Katebi & Mohammad Hossain HajiZadeh & Ali Bordbar & Amir Masoud Salehi, 2022. "The Relationship Between “Job Satisfaction” and “Job Performance”: A Meta-analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(1), pages 21-42, March.
    7. Ashish Dwivedi & Dindayal Agrawal & Ajay Jha & Massimo Gastaldi & Sanjoy Kumar Paul & Idiano D’Adamo, 2021. "Addressing the Challenges to Sustainable Initiatives in Value Chain Flexibility: Implications for Sustainable Development Goals," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 22(2), pages 179-197, December.
    8. Marta Pérez-Pérez & Canan Kocabasoglu-Hillmer & Ana María Serrano-Bedia & María Concepción López-Fernández, 2019. "Manufacturing and Supply Chain Flexibility: Building an Integrative Conceptual Model Through Systematic Literature Review and Bibliometric Analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 20(1), pages 1-23, December.
    9. Khushboo Gulati & Seema Gupta & C. P. Gupta, 2020. "The Transformation of Governance System: A Decade Long Experience of Corporate Governance Using Meta-analysis," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(3), pages 233-262, September.
    10. Mariani, Marcello M. & Machado, Isa & Magrelli, Vittoria & Dwivedi, Yogesh K., 2023. "Artificial intelligence in innovation research: A systematic review, conceptual framework, and future research directions," Technovation, Elsevier, vol. 122(C).
    11. Ehsan Samiei & Jafar Habibi, 2020. "The Mutual Relation Between Enterprise Resource Planning and Knowledge Management: A Review," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(1), pages 53-66, March.
    12. Jaret Treber & Lawrence Mulcahy & Manjul Bhusal Sharma, 2018. "Empty Seats or Empty Threats? Examining the Effects of the 1994-1995 and 2004-2005 Lockouts on Attendance and Revenue in the National Hockey League," Journal of Sports Economics, , vol. 19(5), pages 677-695, June.
    13. Junshuai Cheng & Qaisar Iqbal & Guangmeng Ji & Weichun Li, 2022. "A Sustainable and Comprehensive Framework for Knowledge Transfer in MNCs: An Empirical Examination Based on Country, Company and Individual Levels of Chinese MNCs," Sustainability, MDPI, vol. 14(21), pages 1-17, October.
    14. Arpan Kumar Kar & P. S. Varsha & Shivakami Rajan, 2023. "Unravelling the Impact of Generative Artificial Intelligence (GAI) in Industrial Applications: A Review of Scientific and Grey Literature," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(4), pages 659-689, December.
    15. Ashish Kumar Rathore & Santanu Das & P. Vigneswara Ilavarasan, 2018. "Social Media Data Inputs in Product Design: Case of a Smartphone," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 19(3), pages 255-272, September.
    16. Abdulkareem Salameh Awwad & Omar Mohammed Ali Ababneh & Mahmoud Karasneh, 2022. "The Mediating Impact of IT Capabilities on the Association between Dynamic Capabilities and Organizational Agility: The Case of the Jordanian IT Sector," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(3), pages 315-330, September.
    17. Rodolfo Leandro Faria Olivo & Paulo Tromboni Souza Nascimento & George André Willrich Sales & Fabiana Lopes Silva, 2020. "The Brazilian Franchising Puzzle: What Explains Network Quality, Growth and Franchisees’ Satisfaction," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 21(1), pages 79-93, June.
    18. Jie Xue & Genserik Reniers & Jie Li & Ming Yang & Chaozhong Wu & P.H.A.J.M. van Gelder, 2021. "A Bibliometric and Visualized Overview for the Evolution of Process Safety and Environmental Protection," IJERPH, MDPI, vol. 18(11), pages 1-29, June.
    19. Behl, Abhishek & Jayawardena, Nirma & Pereira, Vijay & Islam, Nazrul & Giudice, Manlio Del & Choudrie, Jyoti, 2022. "Gamification and e-learning for young learners: A systematic literature review, bibliometric analysis, and future research agenda," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
    20. Romero-Silva, Rodrigo & de Leeuw, Sander, 2021. "Learning from the past to shape the future: A comprehensive text mining analysis of OR/MS reviews," Omega, Elsevier, vol. 100(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:gjofsm:v:22:y:2021:i:3:d:10.1007_s40171-021-00272-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.