Technology convergence, open innovation, and dynamic economy

Abstract

The world economy has been confronting low economic growth for several years. Many experts agree that concepts such as openness, convergence, and creation of new market demand through new emerging technologies (e.g. Internet of Things, big data, and Artificial Intelligence) may solve the current economic crisis throughout the world. When these concepts are linked to a network, the law of increasing returns will come true. As the issue of the 4th industrial revolution mentioned in the 2016 World Economic Forum is similar, the enlargement of open innovation and convergence will lead to a new dynamic economy and sustainable development.