Global Challenges of Digital Transformation of Markets: Collaboration and Digital Assets

Vladimir Yadykin,Nikolai Bolshakov,Alexander Fedotov,Sergey Barykin,Vladimir Badenko,Elena De La Poza

doi:10.3390/su131910619

Abstract

Cyber-physical system (CPS) and digital twin (DT) technologies are the key enablers of smart manufacturing. The main idea of CPS is to build bi-directional interaction channels between the physical and cyber worlds. The research gap is ontological consideration of the concept of the digital object (DO) as a representation of a physical object (PO) in the digital space/world. The objective of this study is an ontological analysis of the digital object (DO). This object is fairly well-understood from a technical point of view; although there are many options for its definition, its basic composition and functionality are defined clearly, but currently in the economic science DO has not yet been enough considered. The DO, which first appeared as a digital twin has not been properly explored by economic science. Authors attempt to determine whether all the properties and characteristics of the DO are described by modern economic language or whether there is a need to introduce new concepts and categories to describe such objects. The ontological analysis of the DO within the existing conceptual framework of economic science is presented. The result of the research is comprehensive study of DO which allows the consideration of the additional benefits that economic actors can gain from using the DO. We propose to analyze the DO in terms of such economic categories as goods; innovation process; the system of division of labor; the role of market participants in the creation and use of the DO; intellectual property; etc.

Highlights

Industry 4.0, known as the fourth industrial revolution, has been related to the digitalization of production, primarily in the real sector of the economy, but now is associated with mass introduction of cyber-physical systems into the production process
The approach we propose to studying the digital object (DO) and, the generated by DO asset differs from the existing approaches prevailing in the information technology (IT) sector
The digital twin is an accurate representation of a physical object (PO) in and testing DOs was considerably cheaper and faster

Summary

Introduction

Industry 4.0, known as the fourth industrial revolution, has been related to the digitalization of production, primarily in the real sector of the economy, but now is associated with mass introduction of cyber-physical systems into the production process. The organizations can adopt the latest technologies that direct them to achieve proficiency and profitability, as Industry 4.0 allows organizations to create innovative and quality product. This new industrial paradigm brings together the digital and physical worlds through the cyber-physical systems (CPS) enhanced by Internet of Things and it is expected that this novel approach has consequences on industry, markets, and economy, improving production processes and increase of productivity, affecting the whole product lifecycle, creating new business models, changing the work environment and restructuring the labor market [1,2]. The transition to Industry 4.0 is crucial for manufacturing firms to sustain competitive advantage and seize new opportunities

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