Abstract:Abstract:The Internet of Things (IoT) is an extension of the Internet in which large numbers of "things", including sensors, actuators and processors, in addition to human users, are networked and able to provide high resolution data on their environment and exercise a degree of control over it. It is still at an early stage of development, and many problems/research challenges must be solved before it is widely adopted. Many of these are technical, including interoperability and scalability, as billions of he… Show more
“…However, not only the high number of risks, but also the ambiguous interrelationship between the dimensions and the individual risks, significantly increase the complexity. This is supported by further research findings, and can be considered an essential reason for the marginal practical implementation of Industry 4.0 [8,11,93].…”
The concept of "Industry 4.0" is expected to bring a multitude of benefits for industrial value creation. However, the associated risks hamper its implementation and lack a comprehensive overview. In response, the paper proposes a framework of risks in the context of Industry 4.0 that is related to the Triple Bottom Line of sustainability. The framework is developed from a literature review, as well as from 14 in-depth expert interviews. With respect to economic risks, the risks that are associated with high or false investments are outlined, as well as the threatened business models and increased competition from new market entrants. From an ecological perspective, the increased waste and energy consumption, as well as possible ecological risks related to the concept "lot size one", are described. From a social perspective, the job losses, risks associated with organizational transformation, and employee requalification, as well as internal resistance, are among the aspects that are considered. Additionally, risks can be associated with technical risks, e.g., technical integration, information technology (IT)-related risks such as data security, and legal and political risks, such as for instance unsolved legal clarity in terms of data possession. Conclusively, the paper discusses the framework with the extant literature, proposes managerial and theoretical implications, and suggests avenues for future research.
“…However, not only the high number of risks, but also the ambiguous interrelationship between the dimensions and the individual risks, significantly increase the complexity. This is supported by further research findings, and can be considered an essential reason for the marginal practical implementation of Industry 4.0 [8,11,93].…”
The concept of "Industry 4.0" is expected to bring a multitude of benefits for industrial value creation. However, the associated risks hamper its implementation and lack a comprehensive overview. In response, the paper proposes a framework of risks in the context of Industry 4.0 that is related to the Triple Bottom Line of sustainability. The framework is developed from a literature review, as well as from 14 in-depth expert interviews. With respect to economic risks, the risks that are associated with high or false investments are outlined, as well as the threatened business models and increased competition from new market entrants. From an ecological perspective, the increased waste and energy consumption, as well as possible ecological risks related to the concept "lot size one", are described. From a social perspective, the job losses, risks associated with organizational transformation, and employee requalification, as well as internal resistance, are among the aspects that are considered. Additionally, risks can be associated with technical risks, e.g., technical integration, information technology (IT)-related risks such as data security, and legal and political risks, such as for instance unsolved legal clarity in terms of data possession. Conclusively, the paper discusses the framework with the extant literature, proposes managerial and theoretical implications, and suggests avenues for future research.
“…In the second place, challenges with obtaining the needed supporting staff with the right skill sets and knowledge (mean = 4.16) was seen as another key challenge. Ryan and Watson (2017) highlight that effectiveness in designing and deploying IoT solutions requires a set of knowledge across several technical and non-technical disciplines. This was also supported by other researchers (e.g.…”
Section: Challenges To Individual Organizationsmentioning
Purpose (mandatory) -The Internet of Things (IoT) is expected to have a huge impact on businesses and, especially, the way we think about supply chain management. However, there is still a paucity of studies on the impact of IoT adoption on supply chains and on different aspects of the business in general. The research aims to examine the impact of adoption of Internet of Things (IoT) in organizational supply chains with a view to verify potential key benefits and challenges existent in the literature. The research presents the impact on an organization along with the impact across its entire supply chain. Design/methodology/approach (mandatory) -Data was collected through the use of an online survey and 87 participants completed the survey. Participants were mainly university scholars based in different countries located in six continents.
“…In the field of HCI, the exploration and investigation of wearable devices [41] and the Internet of Things (IoT) have become popular areas of research [42]. In 2008, Kwasny et al [43] conducted a series of focus groups to explore and investigate the privacy beliefs of young adults attending a Higher Education Institute in the USA.…”
Section: Ict and Social Media In Societymentioning
Information communication technology (ICT) is becoming a pivotal element in the twenty-first century, and while there has been substantial work conducted to understand ICT use by older adults, there is a paucity of knowledge relating to ICT use and behavior by Millennials. The Technology 4 Young Adults (T4YA) study opens the discussion to the barriers and enablers of ICT by Millennials in their day-to-day activities. Eight participants aged 18–33 years were recruited, and open-ended questions were posed to the focus groups participants. A total of three focus groups were conducted, two focus groups were conducted in Pontefract (West Yorkshire, England) and one focus group was conducted in Swansea (West Glamorgan, Wales); all focus groups were recorded and transcribed verbatim. Primary themes included: hardware, privacy issues/concerns, confidence, usability/functionality, day-to-day activities, and content/sharing of information. Day-to-day activities were undertaken primarily on smartphones, such as online banking and shopping, while privacy and trust concerns was a conversation thread throughout the discussions. Further work is needed with larger sample sizes, taking a multi-methods approach to extract quantitative data to underpin qualitative data analysis and frameworks. This exploratory study intersects at the fields of social sciences and human–computer interaction.
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