Focus on the Future Economy: Large crowds at the IT Business meets Science

Much was on October 11 in the lecture hall “clock tower” of the Technical University of Darmstadt (TU Darmstadt) : There, the seventh edition of the series of events IT Business meets Science instead, we have called together with the Chair of Business Informatics. Under the motto ” Future Economy “, the focus this time was on the question of how data-based business models are revolutionizing the economy – a topic that hit the nerve of the numerous participants.

IT Business Meets Science 2018: On the way to the data-driven added value of tomorrow

In front of crowded ranks, Prof. dr. Peter Buxmann , Chair of Business Informatics, Software & Digital Business at the TU Darmstadt , invited the guests and agreed on a multi-faceted event. And he did not promise too much: So, immediately afterwards Prof. Dr.-Ing. Reiner Anderl , Professor of Data Processing in Construction (DiK) in the Department of Mechanical Engineering of the TU Darmstadt , cast a spell over the auditorium.

In his opening speech, he reported on the current status of the development of information and communication technology, digitization and Industry 4.0From his point of view, Germany is currently still taking a leading role in the areas of Internet technology and the Internet of Things. But it could also be seen a strong international competition , especially by States such as the US and China. Understandably, Anderl explained, because: The digital transformation sets new impulses for the development and application of cyber-physical systems on the way to the Internet of Things, Services and Data– and thus strengthen the future economic competitiveness of states and companies. His conclusion: Industry 4.0 is a serious basis on which we in Germany are in a position to help shape the industrial revolution.

Artificial intelligence – hype meets business

After providing in-depth explanations on the current state of science and researchDr. Ing. Stefan Wess , CEO of Empolis Information Management , about the practice: His company focuses primarily on the fields of Industry 4.0 associated with Artificial Intelligence (AI) . As a profound connoisseur of the matter, he traced both the basics and the various approaches of the AI. He differentiated between symbolic and data-based systems : It should be noted, according to Wess, that the trend is increasingly towards hybrid systems such as Alexago, in which the language processing by means of symbolic and additional functions on data-based systems is implemented. From his perspective, KI is particularly interesting in the field of decision support systems for companies that want decision support or decision automation. However, at the moment, aspects such as data availability, data quality, and traceability often hinder AI in the business process, or make it impossible.

Distributed Ledgers & Smart Contracts

The challenges of the future were further deepened in the second half of the IT Business meets Science: the focus here was on Blockchain . Equally knowledgeable and exciting, Prof. Dr. Sebastian Faust the topic from a scientific point of view. As a professor of applied cryptography in the Department of Computer Science at TU Darmstadt , he shone light on distributed ledgers and smart contracts between innovation, hype and technological challenge . His vision was, according to Faust, that this technology would create an infrastructure for an Internet without middlemen , in which profits could be distributed fairly. Key challenges the aspects security, sustainability, decentralization and scalability represented.

Holger Köther , head of the “Partnerships” section of the IOTA Foundation , made a keynote address to the remarks by Prof. Dr. med. Sebastian Faust and introduced with Tangle own development: a permissionless peer to peer network , which has no transaction costs and is an open-source distributed ledger technology . Application should find them especially in the Smart City, z. In Smart Mobility and Smart Energy. Currently, the technology is still in beta status, but with a view to the future, it should be further developed as a blockchain alternative.

Happy conversations at the get-together

The get-together showed that the audience took a variety of impulses from the four lectures. Students, scientists and business representatives spent a long time discussing findings from research and practice, making contacts and exchanging ideas about the fundamental importance of digital transformation , In the end, everyone agreed on one thing: the event provided a perfect opportunity to talk to each other, get to know new perspectives and expand their own know-how.

We would like to thank all participants for their keen interest and the positive feedback that is already inspiring us for the next edition of our event series IT-Business meets Science .

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