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Regular version of the site

Article

Advanced text-mining for trend analysis of Russia’s Extractive Industries

Futures. 2020. Vol. 115. No. article 102476. P. 1-12.

The world economy relies on access to industrial metals, oil and gas for maintaining its
critical industrial infrastructure. Although demand is likely to remain high, the most
accessible deposits have been depleted. Future capacity growth will be facilitated
through further technological developments. Therefore, Russia as a leading producer,
is paying great attention to strengthening its competitive edge in global markets. This
paper reports on a large-scale technology foresight study of the Russian extractive
sector (including oil and gas), which combined expert-based foresight activities with
statistical analyses and text-mining techniques based on artificial intelligence and
machine learning technologies. The presented methodology helped to link the
technologies to dominant discussions (e.g. climate change vs rural development) and
to flag most suitable partner organisations. Furthermore, quantitative estimates could
be quickly identified. The study’s methodology should function as an example for
similar studies to support policy planning and investment decisions based on textmining
techniques.