Table of Contents
CHAPTER 1 – INTRODUCTION TO A DIGITAL ECONOMY (1.6 SELF-TEST) ........................................... 3
1. Basic characteristics of a digital economy......................................................................... 3
2. Define digital innovation + examples .................................................................................. 3
3. Digitization vs digitalization vs digital transformation....................................................... 3
4. City-trip app business model .............................................................................................. 4
5. DFV in digital business models........................................................................................... 4
6. Value types for a digital innovation .................................................................................... 5
7. Agile thinking – values and principles ................................................................................ 5
8. Advice for a company wanting to use Scrum ..................................................................... 5
9. Link between digital innovation and Lean thinking ........................................................... 6
10. MVP advice for a digital innovation .................................................................................. 6
11. How a digital business model becomes a new organization ........................................... 6
12. Start-up vs scale-up vs unicorn ........................................................................................ 6
CHAPTER 2 – INTRODUCTION TO SELECTED DIGITAL TECHNOLOGIES (2.6 SELF-TEST) ..................... 7
1. Tips to facilitate end-user technology acceptance ............................................................ 7
2. How to address fear or threat among users ....................................................................... 7
3. Different views on how organizations adopt new tech ...................................................... 7
4. Hype cycle phases ............................................................................................................... 8
5. Sustainable automation concerns for Industry 5.0 ............................................................ 8
6. Comparing and benchmarking different digital technologies ........................................... 8
CHAPTER 3 – ARTIFICIAL INTELLIGENCE (3.5 SELF-TEST) ................................................................ 8
1. Basic ideas underlying AI .................................................................................................... 8
2. Different AI learning approaches ........................................................................................ 9
3. Importance of web/cloud data for AI ................................................................................... 9
4. How AI enables other digital technologies ......................................................................... 9
5. SWOT for AI adoption .......................................................................................................... 9
6. How AI supports sustainability ......................................................................................... 10
7. Organizational considerations before and after implementing AI ................................... 10
8. Academic article on AI – how to position it ...................................................................... 11
9. Mass-media news about AI – implications for adoption .................................................. 11
CHAPTER 4 — INTERNET OF THINGS (4.7 SELF-TEST) .................................................................... 11
From Emerging Technologies to Business opportunities
, 1. BASIC IOT ARCHITECTURE EXPLAINED IN SIMPLE TERMS ................................................................. 11
2. WHAT IS INDUSTRY 4.0 AND HOW DOES IOT FIT IN? ........................................................................ 12
3. IOT OPPORTUNITIES IN SMART CITIES ............................................................................................ 12
4. MAIN CONCERNS WHEN ADOPTING IOT .......................................................................................... 12
5. HOW IOT ENABLES BUSINESS VALUE (3 DIMENSIONS) ..................................................................... 12
6. SWOTA FOR IOT........................................................................................................................ 13
7. WHICH IOT APPLICATION WOULD YOU PERSONALLY INVEST IN? ....................................................... 13
8. EXAMPLE OF A NEWS ARTICLE ABOUT IOT + ITS RELEVANCE ........................................................... 13
CHAPTER 5 — VIRTUAL & AUGMENTED REALITY (VR/AR) (5.6 SELF-TEST) ....................................... 13
1. MAIN DIFFERENCES BETWEEN VR AND AR .................................................................................... 13
2. EXAMPLE OF VR INNOVATION ....................................................................................................... 14
3. EXAMPLE OF AR INNOVATION....................................................................................................... 14
4. SWOT FOR VR OR AR ................................................................................................................ 14
5. SOCIETAL CONCERNS FOR VR/AR................................................................................................ 14
6. WHICH TYPE OF BUSINESS MODEL FITS VR/AR? ............................................................................ 14
7. VR/AR AND SUSTAINABILITY ........................................................................................................ 14
CHAPTER 6 — DIGITAL TWINS (6.6 SELF-TEST)...................................................................... 15
1. WHAT IS A DIGITAL TWIN? ............................................................................................................ 15
2. IOT’S ROLE IN DIGITAL TWINS ....................................................................................................... 15
3. IMPORTANCE OF SIMULATION........................................................................................................ 15
4. RISKS AND CONCERNS OF DIGITAL TWINS ...................................................................................... 15
5. ORGANIZATIONAL IMPLICATIONS ................................................................................................... 15
6. BUSINESS VALUE OF DIGITAL TWINS .............................................................................................. 16
7. NEWS EXAMPLE ABOUT DIGITAL TWINS + RELEVANCE ..................................................................... 16
CHAPTER 7 — BLOCKCHAIN (7.7 SELF-TEST) ................................................................................ 16
1. DEFINITION OF BLOCKCHAIN ......................................................................................................... 16
2. DIFFERENCES BETWEEN PRIVATE AND PUBLIC BLOCKCHAINS .......................................................... 16
3. EXAMPLE OF BLOCKCHAIN INNOVATION ......................................................................................... 16
4. SWOT FOR BLOCKCHAIN ............................................................................................................. 16
5. BLOCKCHAIN BUSINESS MODELS .................................................................................................. 17
6. BLOCKCHAIN AND SUSTAINABILITY ............................................................................................... 17
7. SUPPLY CHAIN EXAMPLE + ANALYSIS ............................................................................................ 17
CHAPTER 8 — 3D PRINTING (8.5 SELF-TEST) ................................................................................. 17
1. DEFINITION OF 3D PRINTING ......................................................................................................... 17
2. TWO TECHNOLOGIES: FFF VS SLS ............................................................................................... 17
3. EXAMPLE OF 3D PRINTING INNOVATION ......................................................................................... 17
4. BUSINESS VALUE OF 3D PRINTING ................................................................................................ 18
5. ADDITIVE MANUFACTURING VS TRADITIONAL MANUFACTURING ........................................................ 18
CHAPTER 9 — BIOCHIPS (9.8 SELF-TEST) ..................................................................................... 18
1. WHAT IS A BIOCHIP?.................................................................................................................... 18
2. DIFFERENCE: BIOCHIPS VS IOT IN HEALTHCARE ............................................................................. 18
3. EXAMPLE OF BIOCHIP INNOVATION ................................................................................................ 18
4. SWOT FOR BIOCHIPS .................................................................................................................. 18
5. BIOCHIPS AND SUSTAINABILITY..................................................................................................... 19
6. ETHICAL CHALLENGES WHEN USING BIOCHIPS ............................................................................... 19
From Emerging Technologies to Business opportunities
, Chapter 1 – Introduction to a Digital Economy (1.6 Self-
Test)
1. Basic characteristics of a digital economy
A digital economy is one where value creation, exchange, and consumption are strongly
driven by digital technologies and data rather than purely physical assets.
Key characteristics:
• Ubiquitous connectivity: heavy use of internet, mobile networks, cloud services.
• Data-centric: data is a key production factor, often called “the new oil” (big data,
analytics, AI).
• Network effects: platforms become more valuable as more users join (e.g. Uber,
Airbnb).
• Low marginal costs: once a digital product is developed, copying/distributing it is
almost free.
• Platform and ecosystem logic: firms collaborate in digital ecosystems (APIs,
platforms) rather than just linear value chains.
• Blurring of sectors and roles: tech firms enter finance, mobility, health… traditional
sector boundaries fade.
2. Define digital innovation + examples
• Digital innovation = creating new or significantly improved products, services,
processes, or business models enabled by digital technologies (apps, AI, IoT,
etc.), not just “using a computer” but changing how value is created.
Examples:
• A banking app that allows instant P2P payments and budgeting insights.
• A retailer implementing AI-based recommendation systems.
• A hospital using telemedicine and remote monitoring via wearables.
3. Digitization vs digitalization vs digital transformation
• Digitization: converting analog information into digital form.
o Example: scanning paper invoices into PDFs.
• Digitalization: using digital technologies to improve or automate existing
processes.
o Example: replacing manual invoice processing with an ERP workflow.
• Digital transformation: a deep, strategic change of the organization’s business
model, culture, and processes driven by digital technologies.
o Example: a newspaper shifting from print sales to a subscription-based digital
platform with paywalls, apps, personalized content, new revenue models.
Think:
data format (digitization) → process change (digitalization) → business & organization
change (digital transformation).
From Emerging Technologies to Business opportunities
CHAPTER 1 – INTRODUCTION TO A DIGITAL ECONOMY (1.6 SELF-TEST) ........................................... 3
1. Basic characteristics of a digital economy......................................................................... 3
2. Define digital innovation + examples .................................................................................. 3
3. Digitization vs digitalization vs digital transformation....................................................... 3
4. City-trip app business model .............................................................................................. 4
5. DFV in digital business models........................................................................................... 4
6. Value types for a digital innovation .................................................................................... 5
7. Agile thinking – values and principles ................................................................................ 5
8. Advice for a company wanting to use Scrum ..................................................................... 5
9. Link between digital innovation and Lean thinking ........................................................... 6
10. MVP advice for a digital innovation .................................................................................. 6
11. How a digital business model becomes a new organization ........................................... 6
12. Start-up vs scale-up vs unicorn ........................................................................................ 6
CHAPTER 2 – INTRODUCTION TO SELECTED DIGITAL TECHNOLOGIES (2.6 SELF-TEST) ..................... 7
1. Tips to facilitate end-user technology acceptance ............................................................ 7
2. How to address fear or threat among users ....................................................................... 7
3. Different views on how organizations adopt new tech ...................................................... 7
4. Hype cycle phases ............................................................................................................... 8
5. Sustainable automation concerns for Industry 5.0 ............................................................ 8
6. Comparing and benchmarking different digital technologies ........................................... 8
CHAPTER 3 – ARTIFICIAL INTELLIGENCE (3.5 SELF-TEST) ................................................................ 8
1. Basic ideas underlying AI .................................................................................................... 8
2. Different AI learning approaches ........................................................................................ 9
3. Importance of web/cloud data for AI ................................................................................... 9
4. How AI enables other digital technologies ......................................................................... 9
5. SWOT for AI adoption .......................................................................................................... 9
6. How AI supports sustainability ......................................................................................... 10
7. Organizational considerations before and after implementing AI ................................... 10
8. Academic article on AI – how to position it ...................................................................... 11
9. Mass-media news about AI – implications for adoption .................................................. 11
CHAPTER 4 — INTERNET OF THINGS (4.7 SELF-TEST) .................................................................... 11
From Emerging Technologies to Business opportunities
, 1. BASIC IOT ARCHITECTURE EXPLAINED IN SIMPLE TERMS ................................................................. 11
2. WHAT IS INDUSTRY 4.0 AND HOW DOES IOT FIT IN? ........................................................................ 12
3. IOT OPPORTUNITIES IN SMART CITIES ............................................................................................ 12
4. MAIN CONCERNS WHEN ADOPTING IOT .......................................................................................... 12
5. HOW IOT ENABLES BUSINESS VALUE (3 DIMENSIONS) ..................................................................... 12
6. SWOTA FOR IOT........................................................................................................................ 13
7. WHICH IOT APPLICATION WOULD YOU PERSONALLY INVEST IN? ....................................................... 13
8. EXAMPLE OF A NEWS ARTICLE ABOUT IOT + ITS RELEVANCE ........................................................... 13
CHAPTER 5 — VIRTUAL & AUGMENTED REALITY (VR/AR) (5.6 SELF-TEST) ....................................... 13
1. MAIN DIFFERENCES BETWEEN VR AND AR .................................................................................... 13
2. EXAMPLE OF VR INNOVATION ....................................................................................................... 14
3. EXAMPLE OF AR INNOVATION....................................................................................................... 14
4. SWOT FOR VR OR AR ................................................................................................................ 14
5. SOCIETAL CONCERNS FOR VR/AR................................................................................................ 14
6. WHICH TYPE OF BUSINESS MODEL FITS VR/AR? ............................................................................ 14
7. VR/AR AND SUSTAINABILITY ........................................................................................................ 14
CHAPTER 6 — DIGITAL TWINS (6.6 SELF-TEST)...................................................................... 15
1. WHAT IS A DIGITAL TWIN? ............................................................................................................ 15
2. IOT’S ROLE IN DIGITAL TWINS ....................................................................................................... 15
3. IMPORTANCE OF SIMULATION........................................................................................................ 15
4. RISKS AND CONCERNS OF DIGITAL TWINS ...................................................................................... 15
5. ORGANIZATIONAL IMPLICATIONS ................................................................................................... 15
6. BUSINESS VALUE OF DIGITAL TWINS .............................................................................................. 16
7. NEWS EXAMPLE ABOUT DIGITAL TWINS + RELEVANCE ..................................................................... 16
CHAPTER 7 — BLOCKCHAIN (7.7 SELF-TEST) ................................................................................ 16
1. DEFINITION OF BLOCKCHAIN ......................................................................................................... 16
2. DIFFERENCES BETWEEN PRIVATE AND PUBLIC BLOCKCHAINS .......................................................... 16
3. EXAMPLE OF BLOCKCHAIN INNOVATION ......................................................................................... 16
4. SWOT FOR BLOCKCHAIN ............................................................................................................. 16
5. BLOCKCHAIN BUSINESS MODELS .................................................................................................. 17
6. BLOCKCHAIN AND SUSTAINABILITY ............................................................................................... 17
7. SUPPLY CHAIN EXAMPLE + ANALYSIS ............................................................................................ 17
CHAPTER 8 — 3D PRINTING (8.5 SELF-TEST) ................................................................................. 17
1. DEFINITION OF 3D PRINTING ......................................................................................................... 17
2. TWO TECHNOLOGIES: FFF VS SLS ............................................................................................... 17
3. EXAMPLE OF 3D PRINTING INNOVATION ......................................................................................... 17
4. BUSINESS VALUE OF 3D PRINTING ................................................................................................ 18
5. ADDITIVE MANUFACTURING VS TRADITIONAL MANUFACTURING ........................................................ 18
CHAPTER 9 — BIOCHIPS (9.8 SELF-TEST) ..................................................................................... 18
1. WHAT IS A BIOCHIP?.................................................................................................................... 18
2. DIFFERENCE: BIOCHIPS VS IOT IN HEALTHCARE ............................................................................. 18
3. EXAMPLE OF BIOCHIP INNOVATION ................................................................................................ 18
4. SWOT FOR BIOCHIPS .................................................................................................................. 18
5. BIOCHIPS AND SUSTAINABILITY..................................................................................................... 19
6. ETHICAL CHALLENGES WHEN USING BIOCHIPS ............................................................................... 19
From Emerging Technologies to Business opportunities
, Chapter 1 – Introduction to a Digital Economy (1.6 Self-
Test)
1. Basic characteristics of a digital economy
A digital economy is one where value creation, exchange, and consumption are strongly
driven by digital technologies and data rather than purely physical assets.
Key characteristics:
• Ubiquitous connectivity: heavy use of internet, mobile networks, cloud services.
• Data-centric: data is a key production factor, often called “the new oil” (big data,
analytics, AI).
• Network effects: platforms become more valuable as more users join (e.g. Uber,
Airbnb).
• Low marginal costs: once a digital product is developed, copying/distributing it is
almost free.
• Platform and ecosystem logic: firms collaborate in digital ecosystems (APIs,
platforms) rather than just linear value chains.
• Blurring of sectors and roles: tech firms enter finance, mobility, health… traditional
sector boundaries fade.
2. Define digital innovation + examples
• Digital innovation = creating new or significantly improved products, services,
processes, or business models enabled by digital technologies (apps, AI, IoT,
etc.), not just “using a computer” but changing how value is created.
Examples:
• A banking app that allows instant P2P payments and budgeting insights.
• A retailer implementing AI-based recommendation systems.
• A hospital using telemedicine and remote monitoring via wearables.
3. Digitization vs digitalization vs digital transformation
• Digitization: converting analog information into digital form.
o Example: scanning paper invoices into PDFs.
• Digitalization: using digital technologies to improve or automate existing
processes.
o Example: replacing manual invoice processing with an ERP workflow.
• Digital transformation: a deep, strategic change of the organization’s business
model, culture, and processes driven by digital technologies.
o Example: a newspaper shifting from print sales to a subscription-based digital
platform with paywalls, apps, personalized content, new revenue models.
Think:
data format (digitization) → process change (digitalization) → business & organization
change (digital transformation).
From Emerging Technologies to Business opportunities
