Industry 4.0: The New Dimension of Data Business

An expert discussion on the topic Industry 4.0 was held together with Leitbetriebe Austria at the premises of Binder Grösswang.

  • Leitbetriebe (leading companies) do not shy away from exchanging technical possibilities
  • Networking production generates new potentially marketable data bundles
  • Strict data management and clear contractual regulations are essential for intellectual property protection
  • Despite the risks and high implementation costs, the digitisation of production is still absolutely essential

The currently often-quoted “Industry 4.0” not only enables radically new production processes, it will also open up new dimensions of data generation, data usage und data trading. The resulting opportunities and challenges were the core theme of the economic talk “Industry 4.0: The Digital Jungle – Challenges, Risks and Rich Spoils” held by the excellence platform Leitbetriebe Austria together with the renowned corporate law firm Binder Grösswang. The message from the top-calibre panel of experts: The digital revolution opens up enormous potentials for efficiency improvements and innovation, but it will also drastically increase the time pressure for the implementation of innovation and change processes.

Binder Grösswang partner Ivo Rungg stressed the value of the data for applications under the keyword “Big Data” among other things and he discussed the other legal classification of the data generated from Industry 4.0 processes in contrast to the personal data largely used for marketing purposes: “Non-personal data, such as data from pure production processes, is not subject to data protection restrictions, nor are the entrepreneurs protected against unauthorised data usage in the same way. In general, property rights to data cannot be asserted, but the data can often be classified as trade and business secrets. However, a necessary prerequisite is that the data is efficiently managed and protected.”

Photo fltr.: MMag. Gottfried Gassner, Partner Binder Grösswang; Dr. Michael Kutschera, Partner Binder Grösswang, Mag. Monica Rintersbacher, GF Leitbetriebe Austria, Dr. Ivo Rungg, Partner Binder Grösswang

Fotocredit: Daniel Auer