To survive and thrive through this current wave of disruption, businesses need to successfully bridge from the physical to the digital world. A new IBM whitepaper lays out exactly how to do just that.
Nobody knows disruption in business models better than manufacturers. In the wake of the Fourth Industrial Revolution (4IR), companies must embrace the latest technologies and processes to efficiently serve ever-more demanding customers and stay relevant in fluctuating global markets.
Since 2000, more than 50% of the Fortune 500 have disappeared. For a manufacturer to not only survive, but thrive, they must bridge from the physical to the digital world in the things that they make, how they make them and how they communicate with their products and customers as they operate throughout the lifecycle.
They need to design and build these bridges, and identify key patterns for success. These new patterns provide us smarter ecosystems populated with smarter products, designed and delivered by smarter enterprises.
Bridging the physical & digital worlds
The biggest challenge right now for industry is addressing how to make these ‘bridges’ of frictionless transactions and data fabrics that cross the gap between the digital and the physical world.
Organisations need to develop smarter products, smarter enterprises and smarter ecosystems across these bridges and unlock the new business opportunities that flow both ways over them.
Focusing on this challenge is the imperative for manufacturers in an industry both exacerbated and assisted by advances in technology such as the Internet of Things (IoT), blockchain and cognitive.
In its new whitepaper – Engineering Industrial Ecosystems: Bridging from the Physical to the Digital World, IBM sets out exactly what smarter products, smarter enterprises and smarter ecosystems are, and how to connect them.
Authored by Paul Homan, CTO Industrial, IBM UK & Ireland, it offers easy to follow advice on what to focus on first and what your next steps should be to develop your organisation’s digital strategy.