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  4. Understanding the Machine Economy: Combining Findings from Science and Practice
 
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2024
Journal Article
Title

Understanding the Machine Economy: Combining Findings from Science and Practice

Abstract
The machine economy (ME) is an emergent phenomenon that combines multiple emerging digital technologies, such as Internet of Things (IoT), artificial intelligence (AI), or blockchain, enabling economically autonomous acting machines. We investigate this phenomenon by combining a literature review and a qualitative interview study across different industries to derive propositions about the ME. Finally, we develop a five-layer model of the ME from our propositions that helps academia and practice explore this emerging phenomenon further. Our results indicate that the ME builds on several emerging digital technologies and becomes increasingly relevant for practice and academia.
Author(s)
Duda, Sebastian  
Fraunhofer-Institut für Angewandte Informationstechnik FIT  
Stoetzer, Jens-Christian
Fraunhofer-Institut für Angewandte Informationstechnik FIT  
Guggenberger, Tobias Moritz
Urbach, Nils  
Fraunhofer-Institut für Angewandte Informationstechnik FIT  
Journal
International journal of innovation and technology management  
DOI
10.1142/S0219877024500342
Language
English
Fraunhofer-Institut für Angewandte Informationstechnik FIT  
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