Connected & smart digital industry 4.0 paradigm
Developments in cognitive artificial intelligence (AI) – machine learning (ML) – I/IoT – cloud & edge computing – robotics are amongst some of the core converging technologies that are rapidly shaping the post-digital industry 4.0 age
Along with suite of advanced connectivity protocols and hardware/sensor tech; they represent the transformative elements of a connected & smart digital industry 4.0 paradigm
Across industries; businesses are discovering how variations of these transformative elements can help translate their innovative concepts → viable market propositions (connected, smart & autonomous) in this post-digital era
Additionally; the ever evolving consumer expectations through this transformative phase are driving businesses of all types to re-think their approach to consumer experience (CX) & engagement strategies
For businesses; there has never been a better time to build smarter solutions that contribute to cost reduction whilst bolstering their growth, revenue and CX goals
Challenges
But… the journey to achieving an all connected & smart digital transformation solutions presents myriad of challenges…
…ranging from identifying the most relevant set of industry trends through to predicting future business impacts (operations, teams, services, competitor, et al.), strategizing blue ocean business models and everything in between
Key influencing factors that will require consideration in building out sustainable industry 4.0 solutions range from global macro trends through to technological, consumer, regional policies, regulatory and everything in between
More to than just identifying trends
Take for example the multitude of steps involved in the initial stage of identifying key trends that sets the path to development of various solutions
Whilst businesses may find it relatively easy to identify some of the most discussed current trends, further due diligence is required in –
- distilling only applicable sets of trends that are most relevant to their business operations & goals – current & future (essentially separating noise)
- pinpointing critical inter-related dependencies between concurrent trends (macro vs. technology vs. consumer et al.) as well as their impacts on proposed value proposition models &/or optimization goals
- predicting (with high degree of confidence) the trajectory & relevance of these current emerging trends at a future point in line with their vision, goals and milestones
Each of the above have a significant impact on the business – current & future state – and are just the preliminary steps before progressing to subsequent phases in the development of bespoke (industry 4.0) value propositions
Forthcoming segments will explore some of these key challenges and business impacts in more granular detail as well as the critical role CX plays in development of various all connected & smart digital transformation solutions
Stay tuned!