The purpose of this study is to reveal the effects of key smart-factory success factors?the Internet of Things (IoT), big data, artificial intelligence (AI), fifth-generation (5G), and MES (manufacturing execution systems)?on the continuous use and business performance of smart factories in small and medium-sized manufacturing companies. To achieve this, an empirical survey was conducted with 189 key managers in 50 small and medium-sized enterprises (SMEs) that have established smart factories with government aid, and the responses were analyzed with a structural equation model using the AMOS program. The research findings show that these success factors were only partially effective?they had a positive effect on the continuous use of smart factories by SMEs, as well as the factories? productivity and quality performance (sub-factors of business performance), but had no significant effect on financial performance. This means that the effective utilization of these factors can enable high-quality performance by maintaining operational efficiency. Consequently, the integration and utilization of IoT, big data, AI, 5G, and MES based on AI technologies have policy and practical implications, showing that they should be used as key success factors in SMEs.
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