Attempting to use business cases to justify industrial digital transformation (Industry 4.0) was always a time consuming work of fiction. During the corona crisis there is no time for fiction. The fact is that industrial digitalisation breeds its own success. Therefore, business cases should be the consequence of industrial digitalisation and not a justification for it.
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. The compound gains to be had from digitalisation will rapidly create a widening gap between the smart and the slow. 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.