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ECONOMIC EFFECTS OF INTRODUCTION OF MODERN TECHNOLOGIES IN BEEKEEPING.

Authors :
TAKTAKIDZE, VAKHTANGI
Source :
Globalization & Business / Globalizac'ia da Biznesi; 2024, Vol. 9 Issue 17, p120-128, 9p
Publication Year :
2024

Abstract

The article discusses the economic impact of integrating modern technologies in beekeeping, such as Artificial Intelligence (AI), Machine Learning (ML) and the Internet of Things (IoT). The balance between initial investment and Return on Investment (ROI), operational scalability, market competitiveness, and government policy influences is studied. The importance of Comprehensive Economic Analysis in optimizing benefits and overcoming the challenges beekeeping faces is emphasized. Introducing new technologies in the field leads to the scaling effect, which allows beekeepers to manage more processes and operations faster and with fewer costs and to enter wider markets, leading to increased revenue and high profitability. In addition, challenges related to the scale of activity and market conditions are noted, mainly faced by small apiaries in conditions of insufficient financial support (subsidies) from the state. In addition, the need to develop special training programs for the effective use of technologies is emphasized, which will make it easier for beekeepers to gain a competitive advantage, in particular, improving the quality of products, developing an appropriate marketing strategy and making effective decisions based on databases. The final part of the article presents the macroeconomic benefits that integrating modern technologies in beekeeping can bring - creating new jobs, increasing the incomes of the rural population, expanding the market, and increasing exports. The need for a comprehensive economic analysis of the field to achieve sustainable and useful technological progress in beekeeping is noted. [ABSTRACT FROM AUTHOR]

Details

Language :
Multiple languages
ISSN :
24492396
Volume :
9
Issue :
17
Database :
Complementary Index
Journal :
Globalization & Business / Globalizac'ia da Biznesi
Publication Type :
Academic Journal
Accession number :
178791187
Full Text :
https://doi.org/10.35945/gb.2024.17.011