中文摘要：

工业4．0（智能化）的核心是信息物理的深度融合，本文以信息物理交互为视角，从纵向集成（企业内部信息集成）、横向集成（单产业链信息集成）和智能平台（多产业链信息集成）三个层面，分析和阐述了智能化时代商业模式的特征及商业模式创新的路径：一是纵向集成，智能化将塑造“基础网络-数据平台-定制生产”三层次生产模式，并最终形成企业智能化“价值平台网”，从而实现以企业为主体的商业模式创新；二是横向集成，智能化将从“价值链层”、“产业层”和“生态层”三个层面引发以产业为主体的商业模式创新；三是智能平台，智能化将塑造以平台（智能制造平台和智能终端平台）为主体的“厂商-终端-消费者”三维商业模式，分别从价值创造、数据能力、跨界经营三个层面引领商业模式创新。

英文摘要：

The key of Industry 4.0 （intelligentization） is the deep integration of cyber-information and physical systems. This paper elaborates that the intelligent production, intelligent equipment, intelligent products and other aspects of the intelligent manufacturing will become the new driving force of China＇s manufacturing industry, from three levels：vertical integration, horizontal integration and intelligent platform. It then analyzes and expounds the characteristics of the intelligent business model and the path of business model innovation： firstly, vertical integration, which means intelligence will create the three-tier production model of ＂basic network - data platform - custom production＂, then will form a ＂value platform network＂ of enterprise intelligence to finally achieve business- oriented business model innovation;secondly, horizontal integration, which means intelligence will lead to industry- based business model innovation from the three levels： value chain level, industry level and eco-level; thirdly, intelligent platform, which means intelligence will shape a three-dimensional business model from vendors to the terminal then to customers, which has the platform as the main body, and will lead business model innovation from the three levels respectively：value creation, data capacity and cross-border operation.