• Myths Surrounding Innovation Design in the Industry 4.0 Era

Abstract

We have entered the era of Industry 4.0. To compete in this new era, companies must employ new computer technologies to more quickly and effectively deliver value to consumers; however, such employment can cause elevate consumer expectations, which in turn can generate volatile markets, the pace of which might be too quick for companies to keep up with. This situation demands the development of a new perspective on innovation. This study examined false perceptions or “myths” concerning innovation that occur if beliefs concerning Industry 3.0 are applied to Industry 4.0. Tracing back to industrial revolutions and markets exhibiting various characteristics, we identified the following two major myths. (1) Big data fosters innovation; however, too much information can paralyze a company’s decision-making. (2) Incorporating information technology into objects generates more consumer value and higher resource efficiency. Possible remedying principles are discussed in this paper, namely (1) developing “streaming” instead of “project-based” innovation processes, and (2) recognizing the importance of vision-dominant innovations.

Keywords: Industry 4.0, Innovative Design, Innovation Theory