Every industrial sector touched by the convergence of new technologies is producing something similar to an industrial revolution. The COVID-19 pandemic has set the pace for the rapid development of the Fourth Industrial Revolution. We need to move fast!
This approach is a breaking point moving forwards, so organisations urgently need to find better ways to operate to capitalise the technology it encompasses: Artificial Intelligence (AI) and Machine Learning (ML). This technology-driven revolution supports the transition to a Corporate Collaboration as the primary goal of any organisation.
Organisations now understand that their transformation must go beyond just being digital, to be significant in every digital collaboration with customers. Leaders throughout industries are using the potential of data and AI to make this happen.
However, data without analysis is of no use; pairing it with cognitive technologies can be powerful. Companies that could do well are the ones creating smart experiences people expect, and they can quickly adapt to their digital transformation roadmap. In a competitive business environment, businesses cannot manage to pay for unnecessary costs and lost incomes if they expect to survive.
Join the revolution now!
There will not be a “back to normal.” Accenture’s Industry Global Leader presents few suggestions around how manufacturers can advance and grow into being part of Industry 4.0. Those recommendations include:
· Determine a clear vision - This digital transformation procedure must come from the leaders with an interconnected strategy lined up with the whole company’s functions.
· Support a structure - Digital transformation demands for creating a governance structure, involving reward practices to reinforce the vision and strategy. Every person must align around the way the organisation evaluates performance.
· Set and state expectations - Establishing expectations around behaviour, includes the leader’s talent to be the constant role-model of those behaviours. Too often, people don’t change long-established capabilities until they recognised a collaborative approach from others.
· Sharing cognitive technologies - They can reinforce those proposals by evaluating data and making data and visions obtainable to one and all who demands it. When counting on the same data, individuals are in a better disposition to collaborate.
To this point, leaders expect all participants are well-interrelating with cognitive techniques such as AI and Learning Machine. Ever-growing computer assistants and AIs performance are tasks mostly meant to better not only our quality of life but that of the industry. When these tools and algorithms are capable of aiming at problems in physical sectors, we can say they form part of this industrial revolution.
Specific industries have unique tags for embracing IAI techs. For instance, manufacturing engineers use terminologies such as Industry 4.0 and ‘smart manufacturing.’ These all indicate the escalating adoption and function of AI to overcome obstacles formerly believed not capable of being automated. The importance of the data used by cognitive technologies needs to be “useful data.” Data quality in the course of training, checking, and processes have a massive influence on the functioning of any AI system.
Further comments: The Fourth Industrial Revolution is taking the automation process to an entirely new level; If your organisation is not yet involved in this revolution, you must do it soon to survive. It has been proved that the most adaptable to this edge-technology are surviving this crisis much better. Manufacturers who have embraced flexible-digital SC optimisation, digital service, the Cloud and digital commerce, are at present doing better.
Organisations who intend to take the challenge are forced to invest much faster, as ecosystems are currently undergoing digital excellence at a much more rapid pace, given it has turned to be the only option right now. We are experiencing critical disruptions and suffering because the “new norm”; as long as you plan your best strategy, support your staff, and keep on in your efforts, the efficient the transformation will be.
Is your organisation part of the Industry 4.0 revolution? Is this challenging transformation available to all your staff?