Between competition and cooperation: the new digital world
Network economy, 5g networks, industry 4.0, Digital financial system and the development of artificial intelligence opened a new stage of network and industry digitization. The development of network economy means that implementation of a regulatory reform becomes a necessity. The driving force of all the activities is the pursuit of increased resource efficiency. The goal of the 12th TIME Economic Forum is to gather persons interested in participating in the creation of new commercial law.
During the current term of office of the European Union authorities, the directives that will constitute the legal framework for network economy will be developed. The emerging business models give competitive advantage to companies ready to cooperate within the frames of industry 4.0, yet the existing competition regulations stand in the way. The Industry 4.0 platforms operating in the EU have defined problems and are prepared to start a dialogue with local and European authorities. Their task is to describe and justify the necessary changes. The law must become compatible with new business models. Digital technology allows for more effective management of resources within value chains currently joining the global economic network. The growing importance of economies of scale, combined with the possibilities of more effective use of the potential offered by companies, encourage entering new relationships.