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Big data use and business ethics in Industry 4.0
Technology changes have resulted in significant shifts to conventional business and we can also see some significant changes in transportation, aviation, hotels, travel and other services industries.
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Technology changes have resulted in significant shifts to conventional business and we can also see some significant changes in transportation, aviation, hotels, travel and other services industries. (Shutterstock/-)
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ndustry 4.0 has arisen from an advancement of information and data technology. Thus, data has become valuable knowledge that can be organized, managed and utilized to enhance productivity and further innovation in order to gain more competitive advantages for organizations.
A shift in workplace culture has been highlighted by the Internet of Things (IoT) through the exponential growth of smart devices that connect all things, data, and services, with people. Entire value chains are interconnected by autonomous systems created by intelligent machines and data networks.
The extensive utilization of technological advancements in many smart-city sectors, a topical IoT-related development, has become the most effective way of improving quality of life. Technological breakthroughs impact on the way in which we live, work and interact in the urban space. The integration of smart-city technologies is becoming more visible and enhancing the lived urban experience.
Business transformation by digitization creates added value and continuously develops new business opportunities as breakthroughs for current business models.
