DIGITIZATION, BIG DATA ANALYTICS, AND ARTIFICIAL INTELLIGENCE TRANSFORMING BUSINESS, SOCIETY, AND RESEARCH

摘要

The processing capacity of a contemporary smartphone considerably outperforms the computers that landed a man on the moon in 1969. Building on that tremendous increase in processing capacity, digitization, big data analytics, and artificial intelligence are about to fundamentally transform business models and management approaches and thereby challenge the functioning of established markets. Without any doubt digitization, big data analytics, and artificial intelligence empower organizations and change approaches to business, society, and research. At the core of the trajectory to the new information economy are three established economic principles: (1) centralized production together with network effects on many platforms (the 'winner-takes-all' or 'superstar' economy), (2) increased harmonization of demand, and (3) erosion of property rights (the spread of 'The Commons').