The Fourth Industrial Revolution (Industry 4.0) is characterized by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres. It is disrupting almost every industry in every country and these changes herald the transformation of entire systems of production, management, and governance. However, not all innovations are disruptive, even if they are revolutionary. Disruptive innovation refers to an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leaders.
Across all industries, there is clear evidence that the technologies that underpin Industry 4.0 are having a major impact on business, on customer expectations, on product enhancement, and on collaborative innovation. It is all about improving how new technologies are transforming products and services and increase their value. This condition requires new forms of collaboration at which innovation and disruption are taking place, means that organizational forms will have to be re-thought. The bottom line, the shift to industry 4.0 is forcing economic society to reexamine the way they do business and continuously innovate.
The International Seminar on Business, Economics, Social Science and Technology (ISBEST) 2018 welcomes all academics, researchers, practitioners and students from economics, accounting and management disciplines as well as multi-disciplinary studies of e-learning, information, communication and technology, and other social sciences. The theme of this year seminar is “Collaborative Innovation of Economic Society in the Era of the Fourth Industrial Revolution (Industry 4.0)”.