A Report on Managing Emerging Technologies in Industry 4.0 Era

This report provides an overview of managing emerging technologies within the context of Industry 4.0. It covers key building blocks, challenges, and opportunities, and delves into the SMAC framework (Social, Mobile, Analytics, Cloud). The report includes a technology assessment process based on personal study experience, differentiating between emerging and disruptive technologies. It examines the need for new business and operating models, posing critical questions for technological management assessment. The report compares science and technology, incremental and radical innovation, and differentiates between AR, VR, and MR. It also defines the Internet of Things (IoT) and its value in supply chain management, along with cloud computing characteristics, development models, and deployment modalities. Finally, it addresses big data, blockchain technology in banking, and a comparison of blockchain with traditional database systems. This document is available on Desklib, a platform offering a wide range of study resources for students.

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Managing emerging technologies- 1
Managing emerging technologies
1. Building blocks of industry 4.0 (forbes).
 Artificial intelligence:
It refers to the capability of the computer machines to learn to perform
various activities of human intelligence.
 Advancement in logistics and supply chain management:
The technological enhancement of the computer software such as the
identification of the weather conditions and accordingly the system will
prioritize the activities.
 Simulation:
With the assistance of the technologies the intimation of any contingency
situation is been informed by the computer systems.
2. Challenges and opportunities of industry 4.0.
 Challenges:
The prominent challenges that a company might face is treating data as the
most valuable asset of the business, management of the cyber security and
huge costs incurred in establishing the capabilities for digital advanced
transformation.
 Opportunities:
The emerging opportunities in the industry 4.0 include the rise in the
production activity, reduction in waste, enhancement of business to a
digital level, more reliable patterns of production and the development of
the economy (Ilie-Zudor, 2015).

Managing emerging technologies- 2
3. SMAC:
The SMAC basically is the accumulation of 4 technologies for the enhancement of
the business these 4 technologies are detailed below:
S: Stands for social media junctions used to get connect to the customer in better
way to understand the needs and wants.
M: Stands for the mobile which is considerable source of exchanging data,
communicating with people, for the purpose of shopping and various other
features which are used for other purposes.
A: Stands for the analytics used to understand the buying patterns of the
consumer, as power processing has become cheaper which allows firms this
priority.
C: Stands for the cloud which basically allows the firms to use the new
technology, which assists responding to the market trends more rapidly.
4. Technology assessment process on personal study experience.
Based on the personal experience the macro technology assessment helps to
understand or analyse the effectiveness, safety, and the cost efficiency of the
technological equipment. This type of technological assessment helps to confirm
the decision is made on the basis of the evidence, which is in benefit of the
business and its sustainability. Technological assessment decision should always
be based on the evidence which actually confirms to the growth of the business
(Beth-AnneSchuelke-Leech, 2018).

Managing emerging technologies- 3
5. Emerging technologies and disruptive technologies.
 Emerging technologies:
Emerging technologies are basically the technologies which are obscure
and are not much used or been accepted widely as they are still emerging
and do not have complete existence.
 Disruptive technologies:
Disruptive technology is kind of a biggest break in the industry as it
distorts the existing market by forming up a new market and adding up the
new value networks in the industry (Banta).
6. Need for new business and operating models based on the following criteria:
Option Description Example Benefits Value
1. Use
technology to
enhance
traditional
business
models
Digital
Marketing
Twitter,
Instagram
(#hashtags)
Enlarged
market and
increase in the
customer base
It provides
digital book
keeping
SEO Cloud bakers,
Mule soft
Customer
satisfaction
Cost effective
2. Transform
existing
business
models
digitally
MIS
Microsoft
dynamics
Rapid
scalability
Familiarity
ERP SAP Assessment of
data from any
source.
Co-ordination
of resources,
activities and
information
3. Invent Mobile apps for Ethno graphics Better Customer

Managing emerging technologies- 4
Entirely new
business
models or
different
engagement
models
understanding
the ethnicity of
the customer
for better
product
offering.
understanding
of customer
tastes and
preference.
Retention
7. Set of what and who questions for the technological management assessment.
 What are the legal policies of the technological assessment?
 What are the cultural beliefs of the technological assessment?
 What are the ethical and moral values of the technological assessment?
 What are the economic prospects of the technological assessment
(Shrader-Frechette, 2012)?
 What are the environmental concerns regarding the technological
assessment?
 Who is responsible for the assessment of the technological?
 Who is the responsible for the aggrandizing of the technological?
8. Comparison of science and technology on the basis on the following table.
Science Technology
Main Purpose To give the actual
understanding and
development of skills to
solve a particular problem
On the other hand
technology is the
understanding and the
solution to any particular
problem.
Inputs Inputs in science include The technological inputs

Managing emerging technologies- 5
knowledge, skills, logic, etc. include the devices.
Core Activities Forming up the idea
advanced technology
Executing the idea
Knowledge Produced Skills, ideas, logic Design, data, devices
Problem/ Need Targeted Virtual enhancement Actual development
9. Difference between incremental and radical innovation.
Incremental Radical
Technology Variances in the existing
one.
Introduction of new
technology.
Trajectory Changes in existing
technologies (Christiansen,
2013)
Introduction of a new
technology
Uncertainty Low High
Idea Generation &
Opportunity Recognition
Idea of developing existing
technology (Verganti, 2013)
Idea of bringing up the new
technology
Process Easy (Verganti, 2013) Complicated
Strategic Factor Product development Market development
10. Do you agree with the following statement?
No, because the terminologies are not inter-related.
11. Differentiate AR, VR, and MR. Also complete the following table.
 AR: Augmented Reality refers to the digital elements that are added to the
live view through the camera of applications used in the smartphones.

Managing emerging technologies- 6
 VR: Virtual reality is an experience of complete engrossment that pulls off
the real world.
 MR: Mixed Reality experience is a combination of both AR and VR which
basically is the interaction of Augmented Reality and Virtual Reality
(Stephan Schütze, 2018).
Complete the table given below:
Characteristics VR AR MR
Is user aware about
the Real world?
NO YES Partial Awareness
Can user interact
with the real &
Virtual world in the
real-time?
NO YES YES
Can real & Virtual
contents interact
with each other in
the real-time?
NO YES YES
12. Define Internet of Things. Three- Dimensional Diagrammatic representation of
Internet of Things.
Internet of things is the availability of internet connection at any point of time and
any place fix with hardware devices required. Some examples of Internet of things
include – security systems connected with the internet and location of the area,
cars, vending machines, etc. (MauroContia, 2018)

Managing emerging technologies- 7
(AlemČolaković, 2018)
13. Value created by Internet of Things for the supply management.
Internet of Things is an aid in the supply chain management as it creates the
following values:
 Efficiency in operations:
By creating the efficiencies in the operations of the business Internet of
Things eases the activities of the operation department as it creates the just
in time production and tracking the location of the asset helps to ensure the
availability of the resources required and eventually removes the
hindrances arriving in the operations of the business.
 Opportunities to increase the revenue:
It creates a lot of opportunities to increase the revenue by providing the
tighter controls over the operations which results in proper functioning and
further leads to the enhancement in the revenues.
14. Values created by Internet of Things through the information generated.
The Internet of Things adds various values by generating the useful information
such as- it helps to perform the tasks in less time and removal of the errors assists
in the timely delivery of products.

Managing emerging technologies- 8
15. Define cloud computing. Mention the characteristics of cloud computing, types of
development models used in the cloud and different deployment modals of cloud.
Cloud computing:
Cloud computing refers to the usage of the internet for various business
functions through computerised systems, cloud basically means the
internet which is used to perform various functions.
 Some of the basic characteristics of cloud computing are as follows:
a. Wider access of network:
Cloud computing provides wider access in to various networks
geographically.
b. Pooling of resources:
The cloud computing the pooling of resources becomes relatively
easier as a lot customers can be approached through single network.
 Types of development modals used in cloud:
a. Infrastructure
b. Service
c. Software
d. Platform
 Different deployment modals of cloud computing
a. Public
b. Private
c. Community
d. Hybrid
16. Before migration to cloud computing what were essential considerations. Explain
each of the 3 types of data required in the cloud computing.

Managing emerging technologies- 9
 Essential considerations:
a. Issues of compliance
b. Types of data storage
c. Ensuring the availability and access
 3 Types of data required in the cloud computing:
1. Infrastructure as a service: This is the most particularized and flexible
type of software which provides customers various services of install,
purchase and configure the software as per their needs.
2. Platform as a service: This is more specialised in comparison to the
infrastructure software as it offers the customers to deploy, update,
manage and test the software.
3. Software as a service: This is the complete developed software that
available on the subscription basis for the purpose of purchasing.
17. Do you agree with the following statement? Explain.
Big data= transactions+ interactions+ observations
Yes, I agree with the above given statement, due to following reasons:
a. All the data of the company is saved on the server of the company.
b. The all data here refers to the inclusion of the transactions, interactions, and
the observations which eventually makes it a big data.
18. 4V’s of big data description. Harnessing of big data.
 Velocity: The velocity of the big data refers to the frequency of data been
stored in the big data server which has high frequency.
 Variety: Every type of data is inclusive in the big data this is the reason it
has variety.

Managing emerging technologies- 10
 Volume: Because large number of data and information related to business
is stored in the server so it has big volume.
 Value: The big data server has its own value being multi- functional it is
an asset of any business firm (forbes, Volume, Velocity, Variety: What
You Need to Know About Big Data, 2012).
19. Issues observed in the banking system. Recommend the emerging technology
used to solve the issue.
 High transaction fees
 Financial crisis
Technology recommended to the above given issues:
Block chain technology:
The block chain technology refers to a system in which the financial
management is divided into blocks or decentralised from a centralized
authority, and a chain is formed which controlled by the computer systems
ensuring the complete security.
20. Base of a block chain system. Describe the scenario with and without the block
chain technology.
Block chain is based on the process of decentralisation of work to computers by
forming the chain of the codes to ensure the complete cyber security.
The scenario with the block chain system ensures the safe work and security of the
confidential data whereas the scenario without the block chain system is little
complicated as it does not ensures the complete security and is centralised to one
authority (Forbes, 2019).
21. Comparison of the block chain system with the distributed database system on
the following criteria.

Managing emerging technologies- 11
Properties Distributed Database Block chain
Store (Line/ Columns/
Transaction)
columns transaction
Data stored (multiple
servers/ every computer)
Multiple servers Every computer
Concurrency Multiple users at the same
time can access the data
No alteration is possible by
any outside user
Authentications Liberal Strict
Accessible Easy access Hard to access
22. Compare the block chain system with the Traditional database.
Properties Block chain Traditional Database
Operations Encrypted Non-encrypted
Replication High security Low security
Consensus Decentralised Centralised
Invariants Data server Data server

Managing emerging technologies- 12
References:
Banta, D. (n.d.). What is technology assessment? Retrieved june 22, 2019, from research
gate:
https://www.researchgate.net/publication/26286076_What_is_technology_assessment
Beth-AnneSchuelke-Leech. (2018). Technology forecasting and socialchanges. A model for
understanding the orders of magnitude of disruptive technologies.
Christiansen, B. (2013). Transcultural Marketing for Incremental and Radical Innovation.
IGI Global.
forbes. (2012, january). Volume, Velocity, Variety: What You Need to Know About Big Data.
Retrieved june 22, 2019, from forbes:
https://www.forbes.com/sites/oreillymedia/2012/01/19/volume-velocity-variety-what-
you-need-to-know-about-big-data/#17c5b971b6d2
Forbes. (2019, june 21). Blockchain Real Estate Startups Shaking Up Property Investment.
Retrieved june 22, 2019, from Forbes:

Managing emerging technologies- 13
https://www.forbes.com/sites/ilkerkoksal/2019/06/21/blockchain-real-estate-startups-
shaking-up-property-investment/#682329ac6fa6
forbes. (n.d.). What is Industry 4.0? Here's A Super Easy Explanation For Anyone. Retrieved
june 20, 2019, from forbes:
https://www.forbes.com/sites/bernardmarr/2018/09/02/what-is-industry-4-0-heres-a-
super-easy-explanation-for-anyone/#34743faa9788
Ilie-Zudor, E. (2015). Intelligent Systems, Applications and Environments for the Industry of
the Future. The intelligent industry of the future: A survey on emerging trends,
research challenges and opportunities in Industry 4.0.
marr, B. (2016, MAY 27). How Blockchain Technology Could Change The World. Retrieved
JUNE 22, 2019, from FORBES:
https://www.forbes.com/sites/bernardmarr/2016/05/27/how-blockchain-technology-
could-change-the-world/#5639f484725b
MauroContia, A. K. (2018). Internet of Things security and forensics: Challenges and
opportunities. Future Generation Computer Systems.
Shrader-Frechette, K. (2012). Science Policy, Ethics, and Economic Methodology: Some
Problems of Technology Assessment and Environmental-Impact Analysis. Springer
Science & Business Media.
Stephan Schütze, A. I.-S. (2018). New Realities in Audio: A Practical Guide for VR, AR, MR
and 360 Video. CRC Press.
Verganti, D. A. (2013). Incremental and Radical Innovation: Design Research vs.
Technology and Meaning Change. The MIT Press Journals.

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