New Forms of Value Creation in the Digital Age

Data and information are the oil of the digital age; industrial and service robots and intelligent algorithms are becoming a decisive production factor and will have a lasting impact on classic value creation. At the same time, however, they also create new opportunities for entrepreneurial value creation, thus influencing industry and market structures. This article explains the changes in entrepreneurial value creation through the targeted use of digital technologies. In particular, the influences of hardware and software robotics, intelligent algorithms and advanced analytics are discussed and classified. Based on this, examples are used to demonstrate disruptions in the entrepreneurial value chain. The resulting changes and their consequences are discussed by using examples. The changing demands on the market, industry structures, and business models with their business processes in these value creation structures are highlighted. To conclude the article, changes in value creation are outlined by using the example of the healthcare sector.