ABSTRACT
Internet of Things (IoT) is a critical component of Industry 4.0. It has extensive applications in the monitoring of production systems in manufacturing and services. This technology opens up newer and innovative possibilities in manufacturing by facilitating higher performance. IoT's major capability is to collect and share information with the help of internet-connected machines and devices. It is associated with unique identification numbers or codes that can be controllable through our daily use devices like smartphones. This technology's major components are software, hardware with the network's connectivity for data altercation, and collection. IoT creates disruptive innovation in the field of manufacturing. The need is to understand this technology and how it can help the contemporary production systems. Here, we have studied the potential of this technology to provide better solutions in Industry 4.0. The major drivers of IoT for Industry 4.0 are studied. This paper discusses how Industry 4.0 helps create a smart factory. Finally, we have identified and studied significant IoT applications to adopt Industry 4.0 successfully, and the same is presented in tabular form. With proper implementation of this technology, industries observe an improvement in efficiency during the manufacturing of products. Manufacturing is done with lesser cost and errors. However, there is a long way to reap full benefits for humankind.
ABSTRACT
Virtual reality (VR) has applications in cardiology to create enhancement, thereby improving the quality of associated planning, treatment and surgery. The need is to study different applications of this technology in the field of cardiology. We have studied research papers on VR and its applications in cardiology through a detailed bibliometric analysis. The study identified five significant steps for proper implementation of this technology in cardiology. Some challenges are to be undertaken by using this technology, and they can provide some benefits;thus, authors contemplate extensive research and development. This study also identifies 10 major VR technology applications in cardiology and provided a brief description. This innovative technology helps a heart surgeon to perform complex heart surgery effectively. Thus, VR applications have the potential for improving decision-making, which helps save human life. VR plays a significant role in the development of a surgical procedure. This technology undertakes 3D heart model information in full colour, which helps to analyze the overall heart vane, blockage and blood flow. With the help of this digital technology, a surgeon can improve the accuracy of heart surgery, and he can simulate the surgery. A surgeon can undertake surgery in a virtual environment on a virtual patient. The unique purpose of this technology is to practice pre-operatively on the specific circumstance. A cardiologist can also check the proper status of inner and outer heart wall layer. Thus, by using this 3D information, the surgeon can now interact with heart data/information without any physical touch. This technology opens a new opportunity to improve the heart surgery and development in cardiovascular treatment to improve patient outcome.
ABSTRACT
This study examines how crude oil price volatility affected the stock returns of major global oil and gas corporations during three major oil-price wars that took place between October 1991 and June 2020. Episodes considered include the 1998 Saudi Arabia - Venezuela war, the 2014-2016 conflict and the 2020 Saudi Arabia - Russia war in a time of unprecedented crisis caused by the COVID-19 pandemic. The persistence of volatility in oil prices during times of specific oil-price wars is captured through generalized autoregressive conditional heteroscedasticity (GARCH) model while the leverage effect is tested using the threshold generalized autoregressive conditional heteroscedasticity (T-GARCH) model. Moreover, a vector autoregressive (VAR) model is employed to consider the relationship between oil price shocks and stock returns of oil and gas corporations. Our findings reveal a significant evidence for volatility persistence and leverage effects in oil price during the three oil-price wars. These findings are consistent for WTI as well as Brent crude oil specifications. Though the persistence of volatility is similar to that of the previous two oil-price wars, the 2020 Saudi Arabia - Russia oil-price war has higher volatility spikes than the previous two wars. Besides, oil price shocks have a significant and positive effect on the returns of oil and gas companies. These findings provide investors information on how volatility in global oil prices is also sensitive to irregular events such as price wars between oil producers. This information can be important for economic agents contemplating shorter hedges by managing risks during times of high volatility.