Internet of Things; Standards; The Open Platform 3.0; Value creation; Business Services
Abstract :
[en] In traditional product companies, creating value meant identifying enduring customer needs and manufacturing well-engineered solutions. Two hundred and fifty years after the start of the Industrial Revolution, this pattern of activity plays out every day, especially in a connected world where products are no longer one-and-done. Making money is not anymore limited to physical product sales and other revenue streams become possible after the initial product sale, which are service-based information and knowledge in today's IoT (including subscriptions and apps, new analytics for cognitive capabilities...). While information and knowledge are the "new oil" of the IoT era, it nonetheless remains challenging to perceive and extract the real value of those assets, as information is not as tangible and concrete as physical assets. In this respect, this paper introduces the major "laws of information" and discusses how these laws can be leveraged to their full extend thanks to the IoT possibilities. Further, the paper discusses the key challenges that remain to be addressed in today's IoT to concretize such laws. Finally, a set of real-life business use cases identified by the Open Platform 3.0TM Forum are presented from the information law perspectives.
Research center :
Interdisciplinary Centre for Security, Reliability and Trust)
Disciplines :
Computer science
Author, co-author :
Kubler, Sylvain ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT)
Yoo, Min-Jung; Ecole Polytechnique Fédérale de Lausanne - EPFL > Laboratory for Computer-aided Design and Production > Professor
Cassagnes, Cyril ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT)
Främling, Kary; Aalto University > School of Sciences > Professor
Kiritsis, Dimitris; Ecole Polytechnique Fédérale de Lausanne - EPFL > Laboratory for Computer-aided Design and Production > PhD
Skilton, Mark; University of Warwick > Business School > Professor
External co-authors :
yes
Language :
English
Title :
Opportunity to Leverage Information-as-an-Asset in the IoT -- The road ahead
Publication date :
24 August 2015
Event name :
3rd IEEE International Conference on Future Internet of Things and Cloud
Event place :
Roma, Italy
Event date :
from 24-08-2015 to 26-08-2015
Audience :
International
Main work title :
3rd International Conference on Future Internet of Things and Cloud
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