Value Creation for Cyber-Physical Systems and Services (CPSS)

Value Creation for Cyber-Physical Systems and Services (CPSS) combine the worlds of bits and atoms, and promise to transform existing logics of people, organizations, and entire industries. Examples range from wearables in the areas of health, work or entertainment, artificial intelligence based Internet-of-Things (i.e, IoT), or new forms of open distributed information technology architectures to co-create private and public value. Use of these technologies has substantial impacts on organizational practices and human behavior. Likewise, there are substantial opportunities for CPSS driven innovations in business-to-business settings. These opportunities exist particularly in manufacturing in which innovation activities increase the digitization of products and production processes. We see that the global awareness of the power of the manufacturing industry will be linked to horizontal CPSS that enable value creation in the networked business environment. The cyber-aspects of such systems are ICT infrastructure, computer hardware, software, and different kinds of sensors and actors. These components turn CPSS into platforms for designing and operating service. The data on products and processes gained through networked CPSS and the ability to act on this data through control systems and actors enables novel ways of creating CPSS in industrial contexts.