IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxivy2021i4-part2p169-181.html
   My bibliography  Save this article

The Legal and Security Aspects of ICT and Industry 4.0 Importance for Financial Industry 4.0 Development

Author

Listed:
  • Weronika Jakubczak
  • Anna Golebiowska
  • Dariusz Prokopowicz

Abstract

Purpose: The research aims to characterize legal and security aspects of Information and Communication Technologies (ICT) and Industry 4.0 importance for Financial Industry 4.0 development. The aim of the topic was to demonstrate the growing importance of ICT implementation in analyses of complex research conducted in Financial Industry 4.0 by conducting research on Big Data Analytics. Design/Methodology/Approach: Authors discuss various legal regulations, security aspects - threats and solutions for ICT and Industry 4.0 in order to examine how big of an impact they have for Financial Industry 4.0 development. Article indicates one of the development key directions of analytics conducted on Big Data Analytics analytical platforms, i.e., sentiment analysis use to assess the perception and Internet users awareness in a specific issue, on example of selected issues of ICT, technological revolution, Industry 4.0, various technological and security risk categories and selected economic categories - Financial Industry 4.0. Authors use elements of concept - descriptive and improving functional and modeling as well as diagnostic and functional. Findings: The working hypothesis refers to the assumption that current legal regulations of ICT and Industry 4.0 shall be further adjusted in order to face ever-growing demands of cyberthreats and security measures shall be constantly developed in order to protect critical infrastructure as Financial Industry 4.0. Implementation and lack of transparency with disclosure of number and scale of attacks create additional weak points. Practical Implications: As a result of conducting the research, it is possible to identify threats and present some recommendations for legal and security aspects of ICT and Industry 4.0 so Financial Industry 4.0 can be developed safely as a part of critical infrastructure. Originality/Value: This is a complete research for legal and security aspects of ICT and Industry 4.0 importance for Financial Industry 4.0 development.

Suggested Citation

  • Weronika Jakubczak & Anna Golebiowska & Dariusz Prokopowicz, 2021. "The Legal and Security Aspects of ICT and Industry 4.0 Importance for Financial Industry 4.0 Development," European Research Studies Journal, European Research Studies Journal, vol. 0(4 - Part ), pages 169-181.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:4-part2:p:169-181
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/2651/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gandomi, Amir & Haider, Murtaza, 2015. "Beyond the hype: Big data concepts, methods, and analytics," International Journal of Information Management, Elsevier, vol. 35(2), pages 137-144.
    2. Celina M. Olszak, 2014. "Business Intelligence In Cloud," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 10(2), pages 115-125, December.
    Full references (including those not matched with items on IDEAS)

    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. Anna Golebiowska & Weronika Jakubczak & Dariusz Prokopowicz & Ryszard Jakubczak, 2021. "Cybersecurity of Business Intelligence Analytics Based on the Processing of Large Sets of Information with the Use of Sentiment Analysis and Big Data," European Research Studies Journal, European Research Studies Journal, vol. 0(4 - Part ), pages 850-871.
    2. Julia Eichholz & Thorsten Knauer & Sandra Winkelmann, 2023. "Digital Maturity of Forecasting and its Impact in Times of Crisis," Schmalenbach Journal of Business Research, Springer, vol. 75(4), pages 443-481, December.
    3. de Camargo Fiorini, Paula & Roman Pais Seles, Bruno Michel & Chiappetta Jabbour, Charbel Jose & Barberio Mariano, Enzo & de Sousa Jabbour, Ana Beatriz Lopes, 2018. "Management theory and big data literature: From a review to a research agenda," International Journal of Information Management, Elsevier, vol. 43(C), pages 112-129.
    4. Amiri, Babak & Karimianghadim, Ramin, 2024. "A novel text clustering model based on topic modelling and social network analysis," Chaos, Solitons & Fractals, Elsevier, vol. 181(C).
    5. Adesuwa Omorede & Juan Francisco Prados-Castillo & Amalia Cristina Casas-Jurado, 2025. "Researching entrepreneurship using big data: implementation, benefits, and challenges," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-22, December.
    6. Acharya, Abhilash & Singh, Sanjay Kumar & Pereira, Vijay & Singh, Poonam, 2018. "Big data, knowledge co-creation and decision making in fashion industry," International Journal of Information Management, Elsevier, vol. 42(C), pages 90-101.
    7. Harkaran Kava & Konstantina Spanaki & Thanos Papadopoulos & Stella Despoudi & Oscar Rodriguez-Espindola & Masoud Fakhimi, 2021. "Data Analytics Diffusion in the UK Renewable Energy Sector: An Innovation Perspective," Post-Print hal-03781046, HAL.
    8. Oesterreich, Thuy Duong & Anton, Eduard & Teuteberg, Frank & Dwivedi, Yogesh K, 2022. "The role of the social and technical factors in creating business value from big data analytics: A meta-analysis," Journal of Business Research, Elsevier, vol. 153(C), pages 128-149.
    9. Johannes Habel & Sascha Alavi & Nicolas Heinitz, 2023. "A theory of predictive sales analytics adoption," AMS Review, Springer;Academy of Marketing Science, vol. 13(1), pages 34-54, June.
    10. Chotia, Varun & Khoualdi, Kamel & Broccardo, Laura & Yaqub, Muhammad Zafar, 2025. "The role of cyber security and digital transformation in gaining competitive advantage through Strategic Management Accounting," Technology in Society, Elsevier, vol. 81(C).
    11. Tiago Carneiro & Winnie Ng Picoto & Inês Pinto, 2023. "Big Data Analytics and Firm Performance in the Hotel Sector," Tourism and Hospitality, MDPI, vol. 4(2), pages 1-13, April.
    12. Gianfranco Marotta & Phillipe Krahnhof & Cam-Duc Au, 2022. "A Critical Analysis of Budgeting Processes from the Pharmaceutical Industry and Beyond," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 12(3), pages 1-3.
    13. Dan Zhang & Loo G. Pee & Shan L. Pan & Jingyuan Wang, 2024. "Information practices in data analytics for supporting public health surveillance," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 75(1), pages 79-93, January.
    14. Miikka Blomster & Timo Koivumäki, 2022. "Exploring the resources, competencies, and capabilities needed for successful machine learning projects in digital marketing," Information Systems and e-Business Management, Springer, vol. 20(1), pages 123-169, March.
    15. Andrea Cappelli & Iacopo Cavallini, 2021. "The Potential of Big Data Analysis in the Shipbuilding Industry: A Way of Increasing Competitiveness," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2021(suppl. 1), pages 53-74.
    16. Tursunbayeva, Aizhan & Di Lauro, Stefano & Pagliari, Claudia, 2018. "People analytics—A scoping review of conceptual boundaries and value propositions," International Journal of Information Management, Elsevier, vol. 43(C), pages 224-247.
    17. Sabeen Hussain Bhatti & Wan Mohd Hirwani Wan Hussain & Jabran Khan & Shahbaz Sultan & Alberto Ferraris, 2024. "Exploring data-driven innovation: What’s missing in the relationship between big data analytics capabilities and supply chain innovation?," Annals of Operations Research, Springer, vol. 333(2), pages 799-824, February.
    18. Fernando López & Konstatin Kholodilin, 2023. "Putting MARS into space. Non‐linearities and spatial effects in hedonic models," Papers in Regional Science, Wiley Blackwell, vol. 102(4), pages 871-896, August.
    19. Rohit Raj & Vimal Kumar & Pratima Verma, 2023. "Big data analytics in mitigating challenges of sustainable manufacturing supply chain," Operations Management Research, Springer, vol. 16(4), pages 1886-1900, December.
    20. Katarzyna Kopczewska, 2023. "Spatial bootstrapped microeconometrics: Forecasting for out‐of‐sample geo‐locations in big data," Scandinavian Journal of Statistics, Danish Society for Theoretical Statistics;Finnish Statistical Society;Norwegian Statistical Association;Swedish Statistical Association, vol. 50(3), pages 1391-1419, September.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    Statistics

    Access and download statistics

    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:ers:journl:v:xxiv:y:2021:i:4-part2:p:169-181. 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: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    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.