Understanding the Machine Economy: Combining Findings from Science and Practice-Reference-Cited by-同舟云学术

Understanding the Machine Economy: Combining Findings from Science and Practice

Published:2024-03-20 Issue:04 Volume:21 Page:
ISSN:0219-8770
Container-title:International Journal of Innovation and Technology Management
language:en
Short-container-title:Int. J. Innovation Technol. Management

Author:

Duda Sebastian¹^ORCID,Stoetzer Jens-Christian²^ORCID,Guggenberger Tobias²^ORCID,Urbach Nils³^ORCID

Affiliation:

1. Branch Business & Information Systems, Engineering of the Fraunhofer FIT, Bayreuth 95444, Germany

2. FIM Research Center, University of Bayreuth, Universitätsstraße 30, Bayreuth 95447, Germany

3. Ditlab, Frankfurt University of Applied Sciences, Nibelungenpl. 1, Frankfurt Am 60318, Germany

Abstract

The machine economy (ME) is an emergent phenomenon that combines multiple emerging digital technologies, such as Internet of Things (IoT), artificial intelligence (AI), or blockchain, enabling economically autonomous acting machines. We investigate this phenomenon by combining a literature review and a qualitative interview study across different industries to derive propositions about the ME. Finally, we develop a five-layer model of the ME from our propositions that helps academia and practice explore this emerging phenomenon further. Our results indicate that the ME builds on several emerging digital technologies and becomes increasingly relevant for practice and academia.

Funder

Bayerische Staatsministerium für Wirtschaft, Landesentwicklung und Energie

Publisher

World Scientific Pub Co Pte Ltd

Link

https://www.worldscientific.com/doi/pdf/10.1142/S0219877024500342

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