For two years, companies in virtually every industry have been driving digital transformation at high speed to adapt to the disruptions of the global pandemic. But have they achieved what they hoped?
Champions of Industry 4.0 have been encouraging traditional physical industries to take advantage of digital technologies since 2011 when the term “Industry 4.0” was coined. Uptake was ad hoc and slow — at least until the wake-up call of COVID-19, which saw digitally enabled companies pivot while non-digitalized businesses ground to a halt.
In the rush to go digital since then, many enterprises admit they haven’t realized the benefits they know should be available. New research commissioned by Nokia shows there are some common roadblocks holding them back — and some proven ways to get around them.
What’s in the way? Fresh research from Nokia and Parks Associates
Together with Nokia, Parks Associates interviewed 30 manufacturing, energy and transportation executives around the world, digging deep into their experiences of digital transformation to identify common roadblocks and how they’ve overcome them. It turns out there are five main obstacles companies encounter when trying to achieve their Industry 4.0 objectives:
- Networking capabilities and the operating environment
- Data architectures and infrastructure
- Cybersecurity and cyber threats
- People and processes
- Working with vendors
The findings of that research are captured in a new report, 'Overcoming Roadblocks to Industry 4.0' — covering the causes of the issues companies encounter, giving real-world examples from a wide range of industries, and setting out best practices for resolving the challenges to make the most of Industry 4.0 capabilities.
Seeing the future
The concept of Industry 4.0 — aka the 4th Industrial Revolution or I4.0 — came out of Germany a decade ago, and specifically from the insights of management expert Henrik von Scheel. Since then, von Scheel has spent a lot of time analyzing the development of the Industry 4.0 phenomenon.
In a new interview with Nokia, he shares his thoughts on the core principles manufacturers can apply to make headway toward their digital transformation goals, the three stages of Industry 4.0 maturity and the best opportunities for companies to start reaping the benefits of Industry 4.0 today.
Let’s talk transformation
There are plenty of good reasons for the hype around Industry 4.0: digitalized processes and operations can unlock whole new dimensions of competitiveness and creativity for companies. The next installment of our ongoing Real Talk virtual event series looks at the reasons why Industry 4.0 is imperative - and what companies need to do to fully commit to the transformation.
We’ve assembled a pair of expert panels to discuss the latest on Industry 4.0’s current state and unearth compelling insights into how digitalization roadblocks can be overcome to build a future with #NoBoundaries.
In this Real Talk event we'll hear from the originator of Industry 4.0, Henrik von Scheel, and have two panel discussions on 'Data in the Industrial Environment' and 'Taming the Industry 4.0 Ecosystem' with panelists from leading companies including EY, PTC, Dassault Systemes, Kyndryl, and Verizon.