The ontogenesis of the digital economy and the data economy: The concept of “Intellectual hyperconnection in Industry X.0”

Abstract

Purpose: to develop a holistic view of the complex cause-and-effect relationships between the identified transformational processes and phenomena based on the ontogenesis of the digital economy and the data economy. Methodology: the author used the approach based on the matrix “Evolution of the digital economy and systemic digital transformation”, retrospective analysis, the method of included observation, the author’s own experience of business consulting, conducting foresight sessions, holding strategic sessions in large Russian and foreign corporations from 11 industries. Findings: development of the concept of “Intellectual hyperconnection in the Industry X.0”. Originality and contribution: the novelty of the work lies in building an academic approach to research the ontogenesis of the digital economy and the data economy. This study is the first to propose the “A-matrix for the formation of strategic decisions on digital transformation”, to construct the evolution of the data economy, to identify and describe its main stages. It concludes that the data economy is a component of the digital economy. Another significant result of the study is the concept of “Intellectual Hyperconnection in the Industry X.0”, as well as the revealed paradigm shift in data economics, which create a theoretical and methodological foundation for further research.