THE 7TH WORLD WONDER OF IT - INTUITION-BASED ANALYTICS FOR THE DIGITAL ECONOMY & SOCIETY

Abstract

Computer Science is a relatively young discipline. However, the impact of IT to business, economy, and society is huge. Without information systems and web-based services, our industry as well as our public live would suffer. In this overview paper, we therefore list seven world world wonders of IT and focus on the seventh, i.e. fuzzy logic and its derivatives. In fuzzy logic, the classical truth values true (1) and false (0) are extended by infinite truth values between 0 and 1. These values open a new way of thinking, i.e. thinking in degrees of truth rather than in black and white terms. Three short case studiesfuzzy portfolio techniques, intuition-based service management, and fuzzy votingillustrate the potential of soft computing in different application domains. Finally, we summarize the 'grand paradigm shift' of fuzzy logic for mathematics and other areas of science, but also for engineering, management, decision-making, risk analysis, and last but not least, for our knowledge-based society.