Publisher: Toplica Academy of Applied Studies, Department of Business Studies Blace Co-publisher: University of Priština in Kosovska Mitrovica, Faculty of Technical Sciences in Kosovska Mitrovica, Serbia University of St. Kliment Ohridski, Bitola, Faculty of Tourism and Hospitality in Ohrid, North Macedonia The mission of the journal is to present the latest theoretical and practical knowledge in the fields of economics, management, tourism, computer science, and informatics. Starting publishing date: 2010 Frequency: semiannually The journal uses a double-blind peer review.
Toplica Academy of Applied Studies, Department of Business Studies Blace
Triple materiality: concept, structure and perspective
Materiality is a way of expressing the importance of a certain financial or non-financial category, that is, to measure, manage and reveal issues that are important for a company. It is significantly used in the process of financial reporting, both in accounting and auditing. This raises the question of determining materiality, which is really very important. In this context, one-level, i.e. financial materiality, considers whether an issue can affect the company's operations in a financial sense. Two-level materiality involves additional consideration of how a company impacts people and the planet, i.e. environmental sustainability. Triple materiality introduces an additional angle of observation that places previous concepts of materiality in a significantly broader context, which includes all interested parties. The subject of the paper is the consideration of the concept, structure and perspective of three-level materiality. The main conclusion is that three-level materiality suggests that one cannot decide whether a certain issue or a certain business transaction is materially significant to the company unless the assessment of its impact and implied dependence is viewed in the context of all stakeholders.
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(In)efficiency of Beneish M Score model in detecting fraud in financial statements
The creation and application of accounting standards (International Accounting Standards (IAS), International Financial Reporting Standards (IFRS), American Generally Accepted Accounting Principles (GAAP)) that would have universal acceptability was the guiding idea of the most important accounting authorities when they started the process of defining and adopting accounting rules and procedures (standards), which we could call international professional accounting regulation. However, a certain "rigidity" that became immanent in the aforementioned standards was somewhat "depreciated" by prescribing at least two, and often more, permitted procedures, which put accountants in a position where their subjective preference for a certain procedure can, to a greater or lesser extent, influence the height of the periodic result. In this way, the so-called creative accounting, which with its techniques or methods helps managers, (co)owners, and/or accountants in compiling financial reports that are usually prepared in accordance with legal and professional regulations, but contrary to its spirit, results in an asset-financial and profitable position of a business (accounting entity) that deviates to a greater or lesser extent from what could be characterized as true and fair. Checking the "freedom" in the choice of adequate accounting rules and procedures, i.e., checking the correctness and objectivity of the compiled set of financial reports can be done by applying several methods and techniques developed by forensic accountants, as well as experts from other fields. In the continuation of this article, we will try to explain in more detail the essence of Beneish's M-score model for detecting possible inconsistencies in the asset-financial and yield position of the observed accounting entity, the results that confirm its (in)efficiency, as well as the doubts that still exist and that can raise doubts about the (all) possibility of this model in detecting fraud in financial statements.
Preserving culinary heritage through sustainable tourism: Voices of local communities
This study explores how rural communities in Serbia preserve culinary heritage through sustainable tourism, focusing on the lived experiences of residents in Erdevik, Belo Blato, and Turija. Drawing on semi-structured interviews with local cooks, farmers, cultural organizers, and hospitality providers, the research examines the intergenerational transmission of food knowledge, community involvement in tourism, and the perceived impacts of tourism on cultural identity. Findings reveal that traditional food practices serve as a vital form of intangible heritage, sustained through embodied learning and storytelling. While tourism offers opportunities for cultural revival and economic development, participants also express concerns about authenticity and commodification. The study highlights the importance of community-led, culturally grounded approaches to heritage preservation, particularly in multiethnic rural settings. It contributes to broader debates on intangible heritage, authenticity, and sustainable development, offering practical insights for inclusive and resilient tourism planning.
Assessing banks efficiency: DEA implementation
By examining intermediate, operating, and profitability aspects, this paper aims to construct a performance model for evaluating the relative efficiency and potential for improvement of 20 banks operating in Serbia for the 2022-2023 period. Data Envelopment Analysis (DEA), which belongs to relatively new data-oriented techniques, was used in the research to measure efficiency. To achieve its goals, the paper makes use of the CCR and BCC, two fundamental DEA models, and three approaches: intermediary, operating and profitability. The results of the analysis showed that the highest efficiency can be attributed o the use of the intermediate approach, while the lowest efficiency of banks can be attributed to the profitability approach. Additionally, the BCC model has higher efficiency compared to the CCR model. According to the analysis results, efficiency has generally grown and is comparatively stable.
The interaction between financial, market and environmental components in the banking sector of the Serbia
Banks are one of the essential institutions in the financial systems worldwide, whereby profitability is the ultimate goal for banks’ business. To provide success, bank management should create an attractive market portfolio that will continuosly generate profit. However, banks have to support eco-friendly initiatives and projects and try to implement corporate social responsibility in their business. The goal of the research is to investigate the connection between financial, environmental and market components in the banking sector of the Serbia from 2014 to 2021. The empirical findings of T-test indicate that banks with green loans in portfolio registered higher profitability compared to banks that do not offer this loan type. The obtained results of correlation show that green loans and market share are positively correlated to bank profitability indicators. This does not mean that green loans are a factor that shapes banks' profitability, but that their presence in the portfolio does not negatively affect the level of the bank's realized profit.
Fiscal Decentralization in the Republic of Serbia from 2000 to 2024
This paper analyses the evolution of fiscal decentralization in Serbia from 2000 to 2024, identifying key legislative changes, institutional mechanisms, and practical challenges in transferring fiscal responsibilities from central to local levels of government. Using descriptive and comparative analysis, the research examines fiscal decentralization in the context of broader democratic and economic transition, focusing on the degree of fiscal autonomy of local governments, regional disparities, and sustainability of reforms. The results show a significant gap between the legislative framework and practical implementation, pronounced impact of economic crises on recentralization tendencies, and persistent differences in administrative capacities of local governments. Comparative analysis with relevant experiences of other transition economies enables the formulation of recommendations for improving the system of intergovernmental fiscal relations and achieving a more efficient balance between national fiscal coherence and local autonomy.
Insurance contract and protection of travellers against insolvency of package travel organisers
Tourism is accompanied by numerous risks which could cause damage not only to travellers, but also to other persons who are directly or indirectly involved in tourism activities. The efficient way to reduce the risk is to transfer the risk to the other party by entering into an insurance agreement. There are different types of insurance in tourism, such as: travel insurance, tour operator liability insurance, public liability insurance, professional indemnity insurance, travel guarantee insurance. The article will provide a comprehensive overview of the concept, constitutive elements and types of insurance contract as well as legal analysis of the specific rules related to travel guarantee and protection of travellers against insolvency of package travel organisers. The aim of the article is to make an overview and assessment of the relevant insurance law rules and consumer protection law rules de lege lata and de lege ferenda, with the particular reference to the rules adopted at the national and EU level, including the on-going revision of the Package Travel Directive 2015/2302/EU.
The impact of the metaverse on compulsive buying
The main objective of this research is to examine the impact of metaverse characteristics on compulsive shopping among young users, who represent the most active population in this digital ecosystem. The metaverse, as an innovative space that combines real and virtual flows, shapes new forms of social interaction and consumption. The research was conducted in November 2024 on a sample of 200 respondents, predominantly young people. Using a questionnaire technique and validated instruments for measuring metaverse characteristics and compulsive shopping, the research hypothesis was tested. The impact of metaverse characteristics on compulsive shopping was tested using multiple regression, and the research results show that metaverse characteristics (seamlessness, presence, interoperability, competition, economic flow, persistence, ubiquity, scalability, and creativity) have a statistically significant and positive impact on compulsive shopping. This research contributes to the theoretical understanding of the metaverse, highlighting the role of technological features in shaping consumer behavior, and paves the way for future studies to explore the long-term psychological and social implications of the metaverse, with a broader demographic focus.
Pro-environmental practices and green solutions adoption in Western Balkans hotels: transformative path to enhance sustainability
In the rapidly evolving landscape of hospitality, the emphasis on sustainability and environmental stewardship has gained unprecedented momentum. Hotels, as significant consumers of resources and contributors to waste, are increasingly recognizing the imperative of adopting green splutions. The paper started from the initial hypothesis H that different green solutions are a long-term path to achieving sustainable and responsible business in hotels. Research conducted among managers and owners of hotels in mountain centers of the Western Balkans showed that among employees there is a need for a transition from classic to sustainable business. Central to this transition are two factors: green training and green rewards, which together foster a culture of sustainability within the hotel industry. This paper explores the essential role of green training in equipping hotel staff with the knowledge and skills needed for sustainable operations, the various green rewards programs that incentivize eco-friendly practices, and the overall environmental performance indicators that reflect a hotel’s commitment to sustainability. By analyzing these interconnected facets, it becomes evident that a holistic approach to environmental responsibility not only enhances the reputation of hotels but also contributes to a more sustainable future.
New rules on the protection of consumer credit users
The article analyzes the rules cotained in the EU Directive 2023/2225 on consumer credit agreements, which in comparison to the previous ones (contained in Directive 87/102, which was modified by Directives 90/88 and 98/7, and Directive 2008/48), are significant step forward towards creating the conditions for achieving long-established goals: a high level of consumer protection and the development of a single credit market. These rules refer to those that regulate for the first time some issues related to the advertising of credit agreements and consumer information, rules that determine the position of creditors and consumers regarding the provision of certain services, rules on the conduct of business obligations of creditors (credit intermediaries), as well as rules on restrictive and educational measures for the purpose of consumer protection.
Potentials of blockchain technology application in accounting and financial reporting
Blockchain technology has caused a significant boom in academic and professional circles, becoming a central topic of discussion in the fields of business process modernisation, transparency, privacy, and data security. In the accounting field, this technology can bring revolutionary changes through the automation of record-keeping, the immutability of financial records, and the transparent exchange of data among all participants, thereby enhancing trust and efficiency in accounting practices. However, it also introduces challenges related to reduced employment opportunities in this profession and new skill requirements that the profession must adapt to. This paper discusses the characteristics of blockchain technology, its potential aspects and domains of application in accounting activities and financial reporting, the benefits and limitations of its implementation, and the changes it may bring to accounting practices and overall business operations. Additionally, the paper presents a conceptual system for the implementation of financial reporting and the automation of accounting activities through the application of smart contracts.
Organic and functional food consumption: a sociodemographic perspective
Health gains importance when it comes to important social and personal values. In addition to physical activity, people are becoming aware that the food they consume has a great impact on their health and are increasingly paying attention to the benefits of leading and maintaining a healthier lifestyle. This study examines the consumption of organic and functional foods, highlighting the growing interest in these products due to their perceived health benefits. Organic foods are produced through environmentally sustainable practices, free from synthetic chemicals, while functional foods are enriched with bioactive ingredients that promote health beyond basic nutritional needs. The study focused on the consumption of organic and functional food among Serbian residents concerning sociodemographic characteristics. The results show that organic food is consumed more frequently than functional food. Differences in consumption were tested based on sociodemographic characteristics, revealing that gender and age do not significantly influence consumption patterns. However, education level and income were identified as significant factors influencing the consumption of organic food, whereas they did not play a substantial role in the consumption of functional food. These findings suggest that higher education and income levels contribute to a greater preference for organic products, while functional food consumption remains consistent across different demographic groups.
Examining the correlation between cloud technology, the improvement of IFRS development, and the efficiency of accounting functions
Cloud technology has a significant impact on the accounting function, financial reporting, and the application of International Financial Reporting Standards (IFRS). This research aims to examine the correlation between the implementation of cloud technology, enhanced IFRS adoption, and the efficiency of the accounting function. Using a descriptive method and correlation coefficient, the study analyzes the relationships and degree of connection between these phenomena. The research involved 32 employees from financial operations in companies and accounting agencies in southeastern Serbia, primarily in the regions of Leskovac and Niš. The paper defines two hypotheses, presents the research findings, and draws conclusions based on them. The results indicate a modest relationship between the implementation of cloud technology and the increased efficiency of the accounting function, as evidenced by faster execution of accounting tasks, reduced overall costs, and the easier adoption of new systems. Additionally, the implementation of cloud technology has a slight positive impact on the improvement of IFRS application, through the use of specialized knowledge, the provision of reliable information, and the reduction of inconsistencies in IFRS application.
Blockchain as an inevitable factor for future financial and industrial management
Blockchain technology, originally developed for cryptocurrencies like Bitcoin, is becoming a key factor in future financial and industrial management. This paper explores its potential for the transformation of these sectors through analysis of current research and projections of future trends. Blockchain is characterized by features such as decentralization, transparency, and security, which can significantly improve efficiency, reduce transaction costs, and improve data accuracy. In the financial sector, the technology enables the development of new digital assets, smart contracts, and decentralized applications, while in the industrial sector, it can improve logistics, supply chain tracking, and resource management. The paper also discusses the challenges in blockchain implementation, including technical, regulatory, and operational aspects. Through analysis and recommendations, the paper provides insight into how blockchain can shape the future of management and contribute to global economic and industrial changes.
Video game induced tourism - a critical literature review
Video games have become an integral part of the lives of many people around the world. Dynamic technological development and growing popularity have enabled them to provide almost realistic experiences and immerse players in their virtual world, shaping their thinking, attitudes and creating a high emotional connection. Therefore, video games allow the presentation and promotion of tourist destinations and their attractions realistically and in detail through the game world, while players are motivated to visit these destinations in the real world. The purpose of this paper is to critically analyze the existing literature that studies this new and insufficiently researched topic, in order to create a perception of the level of existing knowledge, to see the shortcomings of the previous and show the potential directions for further research. A critical literature review determined the existing base of knowledge with conclusion that there are great possibilities for additional research in this field.
Media and culture-based public in the quadruple helix innovation model
Spiral innovation models challenge the technological and economic determinism inherent in linear "science and technology push" and "demand pull" frameworks that explain the primary drivers of innovation. These models posit that innovation is a multifaceted phenomenon, shaped by socio-economic contexts and cultural-historical legacies. The Quadruple Helix model extends the foundational Triple Helix by integrating civil society as a fourth dimension alongside academia, industry, and government. This expanded model emphasizes the interplay between these actors and civil society in shaping demands for innovative solutions in products and services. Civil society, as a multi-layered concept, encompasses media, culture, social values, lifestyles, art, and democratic principles. This paper critically examines the role of the culture- and media-based public and the inherently ambivalent nature of civil society within the Quadruple Helix model. By exploring their influence on the commercialization of knowledge into innovation, the analysis underscores the theoretical and practical implications of this extended framework.
Digital transformation of the healthcare system in Serbia: attitudes of eZdravlje and HIS users
The permanent development of information technologies and the global digitization trend have transformed many sectors, including medicine. Serbia's health information system (HIS) represents a key platform for centralized data collection and processing. At the same time, its integration with the digital service eZdravlje has the potential to improve communication between health workers and patients. eZdravlje and HIS based on empirical research conducted among citizens and health workers in Serbia from February to June 2024. The results were obtained through two surveys, one of which was conducted among citizens, while the other was conducted among doctors. Based on the analysis of these data, the paper provides a comparative overview of the use of the digital services eZdravlje and HIS in Serbia. In addition, deficiencies in HIS were identified that can serve as a basis for further creation of digitization strategies, as well as improvement and improvement of health services in Serbia, in accordance with modern technological achievements.
Audit opinions on financial reports of economic entities from the organic and conventional food market
The main goal of this research is to examine the quality of financial reporting of business entities in the Republic of Serbia that operate on the organic and conventional food markets. In the current research, regular annual financial reports for 2023 were analyzed for 75 companies operating in the organic food market and 75 companies from the conventional food market. The results showed that the analyzed economic entities submit their financial reports in a timely manner within the deadline provided by law and that they were most often assessed by auditors as accurate and that they received positive audit opinions.
Contribution of tourism to economic development in selected European countries
The aim of the study is to explore the interplay between fundamental indicators related to tourism's contribution to economic development. These indicators encompass Total contribution to Employment, Direct contribution to Employment, Total contribution to GDP, Direct contribution to GDP, Capital Investment, and Visitor Exports - Foreign Spending. A cluster analysis of the 30 studied countries was formed based on the entropy results as a measure of equality. The research relies on data from the TTDI Index for the year 2019, as published by the World Economic Forum. The Kruskal-Wallis test highlighted the differences between the clusters. The entropy results support the the cluster analysis, as the coastal countries show the highest values of these indicators.The contribution of tourism to the European economy is imperative for countries to develop strategies for the exploitation of natural and cultural assets.The practical implications emphasize the need for greater investment and foreign spending.
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Considering the ethical aspects of artificial intelligence application from the consumer perspective
Artificial intelligence (AI) uses large datasets to "train" algorithms that make autonomous decisions, leading to significant changes across fields, including digital marketing and personalized advertising. Given AI's growing importance for business and society, ethical concerns, particularly related to privacy and transparency, are becoming increasingly relevant. This research focuses on the ethical aspects of AI in digital marketing, specifically examining consumer perceptions and responses to personalized recommendations and advertisements. The findings highlight consumer attitudes toward AI in personalized advertising, their digital behaviors, and the caution they exhibit when sharing personal data. The paper also briefly discusses regulatory efforts and the adoption of ethical codes concerning AI, both in Serbia and internationally.
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Digital transformation in hospitality: the role of AI in enhancing business through gastronomic offerings
The impact of AI on the hospitality industry is increasingly significant. This paper explores the influence of digital transformation on the hospitality sector, with a particular focus on the role of artificial intelligence (AI) in enhancing business operations through gastronomic offerings. Digital technology is transforming the way hospitality establishments operate, offering new opportunities for optimizing operations, personalizing customer experiences, and efficiently managing resources. By analyzing the application of AI technologies, such as predictive analytics, personalized marketing, and automated ordering systems, the paper addresses how hospitality businesses can improve their competitive position and guest satisfaction. The study employs both qualitative and quantitative research methods to present successful examples of AI integration into business models, highlighting the benefits, challenges, and prospects for future development. Managers from 64 restaurants across the Republic of Serbia participated in the research, and the findings demonstrate the clear potential of artificial intelligence to transform hospitality, creating sustainable and innovative business practices.
Using social media in the business of small and medium-sized enterprises in Serbia
Today's era of digitalization and rapid technological change presents an opportunity for small and medium-sized enterprises (SMEs) to significantly improve their competitiveness by following and applying these achievements. One such aspect is the use of social media, which can significantly increase their presence in new markets and thus increase sales volume. Social media technologies enable new ways of communicating with consumers and other partners, thus overcoming resource constraints. This paper aims to analyze the use of social media by small and medium-sized enterprises in the Republic of Serbia and provides a comparative analysis of the use of web sites and social networks in enterprises from neighboring countries, as well as in the European Union. The results indicate lower use of social media by small and medium-sized enterprises compared to large ones in the Republic of Serbia. At the same time, the results show higher use of social media by enterprises in the Republic of Serbia compared to neighboring countries.
The influence of social networks on the intent to visit hotels
Social media plays a crucial role in the hospitality industry, significantly influencing potential guests' intentions to visit hotels. The dynamic nature of social media allows hotels to engage directly with potential customers, shaping perceptions and building brand image. The importance of social media in decision-making processes has grown, with users relying on platforms to gather information, read reviews, and assess hotel quality. This study aims to explore the extent to which social media characteristics (perceived relevance, informativeness and interactivity), usage habits, and hotel image impact visit intention, providing insights into how these factors contribute to a guest's final decision to book a stay. Linear regression was used to test the mutual influences of variables, and the results showed that the characteristics of hotel social networks, habits of using social networks and the hotel's image on social networks positively influence the intention to visit a hotel. This research advances understanding of how social media impacts consumers' hotel visit intentions by identifying key influencing factors. The findings offer actionable insights for hotel marketers to optimize social media strategies and enhance customer engagement. By leveraging these insights, hotels can improve overall marketing effectiveness and better align their strategies with consumer preferences.
Basel III as a regulatory framework for risk management
The stability of the economic system, which directly depends on the reliability of the country's financial sector, is crucial for growth and development. Therefore, effective risk management is of paramount importance for both banks and other financial institutions. In a turbulent and unpredictable business environment, banks are constantly exposed to risks. For this reason, it is necessary to continuously improve control systems. Basel III refers to a set of global regulatory standards for banks, introduced in 2010 by the Basel Committee on Banking Supervision (BCBS). The aim of the defined standards is to ensure the resilience and stability of banks and prevent financial shocks. On the other hand, this new regulatory framework imposes stricter criteria on commercial banks, which affects credit policy. In addition to a theoretical overview of the new regulatory framework, the paper analyzes the indicators of capital adequacy and the impact of changes in the macroeconomic environment on the exposure of domestic banks to liquidity risk.
The influence of consumer ethnocentrism, influencers, personal innovativeness, and cultural intelligence on the choice of foreign tourist destinations
The process of globalization has implied greater interdependence of national cultures and economies, and the development of information technologies and transport services has made it easy to organize business and tourist trips to countries around the world. A certain group of people considers spending vacations at domestic tourist destinations a moral obligation and a patriotic act, while another group of people has a high level of innovativeness, follows fashion trends, technological innovations, stays informed about current events through social networks, has a pronounced openness to other cultures and different ideas, and frequently visits foreign tourist destinations. The research was conducted with the aim of examining the influence of consumer ethnocentrism, influencers, personal innovativeness, cognitive and motivational cultural intelligence on the respondents' decision to visit a foreign tourist destination. The field research was conducted using a survey method, and the respondents' answers (505) were analyzed using the Structural Equation Modeling (SEM) within the statistical package SmartPLS 4. The results showed that consumer ethnocentrism has a negative impact, while influencers, personal innovativeness, cognitive and motivational cultural intelligence have a positive impact on the respondents' decision to visit foreign tourist destinations. These findings are important for formulating an appropriate marketing strategy by service providers in the tourism and hospitality industry.
cognitive and motivational cultural intelligence
Promotional activities and implementation of blockchain technology in wine production in the Republic of Serbia
Advances in technology and the Internet have transformed the way products and services are offered to customers. In this, rather important role is played by project management and digitization, which support companies in reduction of operating costs through the automation of services. The paper explores promotional activities associated with the implementation of blockchain technology in wine production in the Republic of Serbia, examining potential approaches and the impacts of this process on wine-producing companies. The importance of the paper is reflected in the effort to present and analyze previous knowledge on the mentioned problem, as well as to provide a contribution to the topic in the form of research using the example of the winery “Kovačević” Irig. Project management has a key role in the successful implementation of this technological solution, ensuring that the processes are properly planned, coordinated and controlled. Through this integration, wineries may improve their supply chain, provide greater confidence to consumers and gain competitive advantages in the market environment.
The impact of digitization of the cost accounting system on organizational efficiency and effectiveness in the healthcare sector of the Republic of Serbia
The new industrial era has brought new opportunities and chances for the entire business development. Smart machines, artificial intelligence, cloud computing, the Internet of Things, big data are taking over many jobs and roles, thus leaving room for the development of new skills and abilities. The rapid technological development in terms of automation and digitization has made machines replace human work. In this sense, it is a matter of time when technology will replace traditional accountants. (Management) accountants who want to adapt and survive in the digital world have to improve their offer and change the focus from data calculation to interpretation of results and business management. Thus, by applying new digital information technology tools, management accounting can provide quality information for determining the costs of products and services, performance measurement, planning and control, strategic and operational decision-making and the like. The general objective of this paper is to review the potential impact of digital information technologies on the usefulness of cost accounting systems and organizational performance in healthcare institutions in the Republic of Serbia with the help of statistical analysis of the relationship between the selected variables. The results of the analysis show that digital technologies have a great impact on the usefulness of the cost accounting system. Also, the largest number of respondents pointed out that improved IT systems have a positive effect on increasing organizational performance.
Financial resource management in the non-profit sector: key specificities and challenges
Non-profit sector organizations are focused on meeting their clients' needs in accordance with a clearly defined mission and set goals, without emphasizing profit. Non-profit organizations can efficiently distribute resources, maintain activities, and achieve their objectives by successfully managing their financial resources. This paper aims to highlight the need for and support more detailed research into the characteristics and models of financial resource management within the non-profit sector and its organizations, to achieve more effective management and efficient allocation of financial resources in this sector. Financial resource management is one of the most challenging areas primarily addressed by financial management. The focus of the paper is on understanding the characteristics and challenges of managing organizations that have social and/or humanitarian goals. Additionally, the goal is to emphasize the importance of applying good management practices, the need to create an adequate framework for the development of financial management in the non-profit sector, and the improvement of financial resource management models, all to enhance the quality-of-service delivery to users based on the analysis of the specificities of financial resource management.
Exploring the nexus of sustainable tourism gastronomy experiences and artificial intelligence: A path towards enhanced environmental stewardship and guest satisfaction
This study explores the nexus of sustainable tourism, gastronomy experiences, and artificial intelligence in enhancing environmental stewardship and guest satisfaction in the hospitality industry. Over a month period (January 2024), 385 respondents were surveyed online (via LinkedIn) to investigate the impact of AI-driven solutions on operational efficiency, resource utilization, and guest satisfaction in gastronomy tourism. Utilizing inferential statistics, including chi-square tests, the findings indicated a high level of optimism towards AI's potential to improve efficiency and enhance guest satisfaction. Mean scores of 4.23 and 4.56 for AI-driven solutions' impact on efficiency and guest satisfaction, respectively, supported the positive outlook on sustainability-driven establishments using AI technologies. The study concludes that integrating AI solutions is pivotal in shaping environmental impact and guest satisfaction, offering opportunities to enhance operational efficiency and reduce resource consumption.
The impact of robotic process automation in financial institutions
A digital transformation of business affects all companies, regardless of their plans, and encourages a constant search for new methods of performing tasks. The implementation and use of new technology is often necessary when introducing changes to current ways of working. Financial technologies - FinTech and robotic process automation (RPA) as one of its phenomena, emerged as a result of this category of changes in finance. The purpose of this paper is to familiarize readers with the advantages and disadvantages, as well as the impact of robotic process automation in financial institutions. By searching Web of Science and SCOPUS, an analysis of the existing literature was carried out to achieve the goal of the study. According to the systematic literature review, robotic process automation technology has numerous advantages over its disadvantages. Moreover, its implementation doesn’t necessarily require other major organizational changes such as process redesigning or modifying the existing information systems.