Business 4.0 describes a new business era that has been brought by the digitalization and will continue to be driven by it. New technologies such as cloud technology, artificial intelligence or the possibility of automating many processes as well as the outsourcing of certain work steps to independently functioning machines and robots have created a new way of doing business. Processes and company structures can be designed differently and new possibilities arise to create added value or a benefit for consumers. In addition, digitalization also changes the way consumers think and behave, and they develop new demands on products and services. Companies must meet these new requirements if they are to remain competitive and operate successfully. The term Business 4.0 therefore refers primarily to the changes in business models and internal company structures that go hand in hand with digitalization. Companies all over the world are exposed to this change. Therefore, it does not matter whether the companies are incumbents or start-ups.

Why this is interesting for a Chief Digital Officer (CDO)?
The basis of a Chief Digital Officer (CDO) is to develop new business areas and business models. This is summarized under the 4.0 term world or Smart Everything.

See also (glossary 4.0):

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