How manufacturing can harness digital innovation and reap the benefits of growth
Original article promoted on CNBC on April 27, 2018. The era of digital transformation is impacting every industry — and manufacturing is seeing cutting edge innovation delivering some impressive results. Employing the Internet of Things technology to improve connectivity, productivity and efficiency are vital to any business competing in this digital economy. And while companies born in the digital age are thriving, many legacy companies are finding it hard to keep up. For traditional businesses to thrive, they need to be flexible, agile and open to digital opportunity. Why embrace digitization? How essential is digitization for the growth of the manufacturing industry? In a recent report , IDC predicted that by 2020, 60 percent of top manufacturers will depend on digital platforms to support as much as 30 percent of their overall revenue. Furthermore, the research firm predicts that by 2021, 20 percent of these companies will rely on embedded intelligence, using the Internet of...