A conceptual model of knowledge dynamics in the industry 4.0 smart grid scenario

Abstract

ABSTRACT Technological advancements are giving rise to the fourth industrial revolution – Industry 4.0 –characterized by the mass employment of smart objects in highly reconfigurable and thoroughly connected industrial product-service systems. The purpose of this paper is to propose a theory-based knowledge dynamics model in the smart grid scenario that would provide a holistic view on the knowledge-based interactions among smart objects, humans, and other actors as an underlying mechanism of value co-creation in Industry 4.0. A multi-loop and three-layer – physical, virtual, and interface – model of knowledge dynamics is developed by building on the concept of ba – an enabling space for interactions and thee mergence of knowledge. The model depicts how big data analytics are just one component in unlocking the value of big data, whereas the tacit engagement of humans-in-the-loop – their sense-making and decision-making – is needed for insights to be evoked from analytics reports and customer needs to be met.