Exploring the Rich Tapestry of Intellectual Capital in the Sustainable Development of an Expanded BRICS+ Bloc

This paper contributes conceptually and empirically to a more rigorous understanding of the role of intellectual capital in the sustainable development of the BRICS+ bloc. We investigate the growing command of technical competencies over social competencies across the entire knowledge process. A range of factors, including the ever-increasing tension between AI and humans, the multidimensional nature of intellectual capital, and a focus on competency-based approaches, shape the theory of a knowledge economy. This study presents a spatial modeling approach to analyze the sustainable development of economic systems, reevaluates the importance of intellectual capital in the era of Industry 4.0, introduces the concept of scientific management of intellectual capital by categorizing it into the AI, individual, and collective human mind, and enhances the methodology of managing the knowledge economy to foster intellectual capital development. The primary finding of the research is that the advancement of the knowledge economy is driving digital communication and network-based collaboration on a larger scale within the BRICS+ bloc. Policy implications are intricately linked to the necessity for the holistic development of intellectual capital, encompassing both human and artificial intelligence. This development requires enhancements in quality of life and living standards, advancements in education and healthcare, optimization of the labor market, and reinforcing its connection with the educational sector. Concurrently, it is vital to stimulate research and development (R&D), support the commercialization of high-tech innovations, and accelerate the process of robotization. These combined efforts are essential to fostering economic growth effectively.