At a time when business managers typically retreat from pursuing new initiatives, the benefits of Industry 4.0 have moved from “nice to have” to “essential for survival”.
The full economic consequences of the coronavirus pandemic are far from being understood, but it is already clear that there will be lasting if not permanent changes to global trade. Industrial Digitalisation will play a key role in helping manufacturing companies survive the coming turmoil.
The strategic importance of digitalisation, Industry 4.0, amongst executive and senior management in many industrial companies is undervalued and poorly understood. There’s really only one way to address the challenge of digitalisation: act now, act fast.
Understanding the ability of software to generate value is utterly key to successful digitalisation and not a core competence widely present amongst the leaders of High-Tech industry.