Special Issue on AI-Driven IoT Data Monetization: A Transition From Value Islands to Value Ecosystems

As The trajectory of the Internet of Things (IoT) is moving at a rapid pace, most companies and organizations are awash and drowning in massive amounts of data. Determining how to profit from data deluge and unlock its value can give companies an edge in the market because data have the potential to add tremendous value to many aspects of a business [A1]. The market has already seen a level of monetization across vertical domains e.g., in the form of layering connected devices with a variety of Insights-as-a- Service options. Out of this arena, the data economy concept has been evolving, characterized by correctly monetizing data rather than simply hoarding it, which will provide a significant advantage in a competitive digital environment [A1]. The recent advent of technological advances in the fields of Big Data, Analytics, and Artificial Intelligence (AI) has opened new avenues of competition, where IoT data is considered a living and evolving entity that can unlock enormous opportunities for monetization. Such growth brought forth a slew of new tools, architectures, business models, platforms, and marketplaces, enabling organizations to monetize data successfully. In this context, emerging business models also strive to alter the power balance between users and companies that harvest information by utilizing usage policy enforcement and privacypreserving machine learning techniques. Monetizing data goes beyond just selling data. It is also possible to include steps that add value to data. Generally, organizations can monetize data by 1) utilizing it to make better business decisions or improve processes; 2) surrounding flagship services or products with data; or 3) selling information to current or new markets [A1].