Baltic Journal of Economic Studies (Aug 2023)
ONE BELT, ONE ROAD PROJECT: THE IMPACT OF SMART TECHNOLOGIES ON INFRASTRUCTURE AND LOGISTICS
Abstract
This article explores the impact of the smart economy on the infrastructure and logistics of the One Belt, One Road (BRI – Belt and Road Initiative) initiative. The integration of smart technologies into the project has the potential to transform traditional systems, improve communication, increase efficiency and contribute to sustainable development. Purpose. This study aims to fill the existing knowledge gaps and shed light on the impact of the smart economy on the infrastructure and logistics of the One Belt, One Road project. By examining the opportunities, challenges and implications, this study aims to contribute to the understanding and successful implementation of smart technologies in this ambitious initiative. Methodology. The article uses the methods of quantitative empirical research, statistical analysis and visualisation, analysis and evaluation of the analytical assessment of tools for forming an innovative logistics network within the framework of the One Belt, One Road project. Results. The article examines the impact of the smart economy on connectivity, efficiency and sustainability, and highlights the perspectives and recommendations of different stakeholders. It emphasises the importance of cooperation between governments, businesses and local communities for successful implementation. The findings suggest that while the smart economy offers immense opportunities, challenges such as the digital divide, data protection and investment requirements need to be addressed. The article concludes with recommendations to foster cooperation, develop supportive policies, invest in digital infrastructure and prioritise sustainability. By following these recommendations, the One Belt, One Road project can effectively harness the transformative potential of the smart economy and create a sustainable and inclusive future. Practical implications. The materials can be used to plan a development strategy, taking into account new technologies and the possibility of implementation in the national development strategy. Value/originality. The integration of smart technologies into the infrastructure and logistics systems of the One Belt, One Road project plays a pivotal role in shaping the impact of the smart economy. By leveraging advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), big data analytics and blockchain, the project aims to optimise connectivity, enhance operational efficiency and promote sustainable development. Key aspects of development include smart infrastructure projects, digitisation and automation in logistics, blockchain technology for transparency and security, and data-driven decision-making and predictive analytics.
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