KPMG ‘Reality Check’ Report Says Executives Must Embrace Digital Transformation
KPMG’s latest report on the state of Industry 4.0 is styled as a “reality check” for company executives. The report says many companies are too focused on small, siloed solutions and pilot projects rather than a wholesale commitment to a digital transformation.
“The depth of integration into organizational strategies, and the creativity of applications, varies widely,” the report says.
“Few have developed holistic, end-to-end interconnectivity — our definition of the highest level of i4.0 maturity — among today’s breakthrough i4.0 tools and technologies.”
KPMG noted that manufacturing is the fastest-growing sector in IoT network connections in 2017, according to Verizon, and warns that manufacturers who don’t pursue a bold Industry 4.0 strategy are vulnerable to competitors and novices.
Some interesting stats from KPMG’s report:
- The Industry 4.0 technology market will have a projected value of $152 billion by 2022;
- Forrester Research reports “global purchases of technology software, hardware and services by businesses and governments will rise by 4 percent this year;”
- KPMG International’s 2018 Global CEO Outlook survey reports that “over half of the manufacturing CEOs we surveyed said they are actively looking to disrupt the sector in which they operate.”
P&G Debuts AI-powered Skin Care at CES
According to P&G, “Opté Precision Skincare System combines camera optics, proprietary algorithms, printing technology and skincare in one device that scans the skin, detects hyperpigmentation and applies corrective serum with precision application to reveal the natural beauty of skin.”
P&G created an immersive LifeLab exhibit at CES so consumers could check out the new technology under optimal lighting conditions.
P&G Chief Research, Development and Innovation Officer Kathy Fish keyed in on something that many large companies are focusing on: adopting a startup culture even though P&G is large and well-established.
“We’re innovating faster than ever, combining more than 180 years of capability with the entrepreneurial spirit of a lean startup,” Fish said. “As consumers are changing, so are we. What remains the same is our focus on deeply understanding how consumers live, work and play so we know precisely what they want. When we combine breakthrough science and technologies with this deep consumer understanding, we’re able to deliver transformative innovations that improve life every day.”
It’s Not Just Huawei — Researchers Document 33 Cases Where Trade and Cybersecurity Concerns Conflict
Harvard Business Review this month provides a handy breakdown of examples of countries blocking a technology company’s product or service because of cybersecurity concerns. Huawei has been the most high-profile example in the news lately, but that company is hardly alone.
The researchers said they found 33 cases that involved 19 different countries.
They took their findings beyond simply documenting cases by suggesting what private companies can do when faced with a government demanding censorship (think China and Google) or that wants customer data housed in-country (think Russia and LinkedIn).
Perhaps the most proactive option companies can take is to advocate for change, the researchers noted.
“For example, on August 9, 2017, 10 major cybersecurity companies in the U.S. wrote to Robert Lighthizer, the U.S. trade representative, to urge that he “incorporate cybersecurity trade issues in the upcoming modernization of the North American Free Trade Agreement (NAFTA).”
It appears that while the NAFTA update talks of the importance of cybersecurity it contains little in the way of requirements.
iFIX 6.0: Ask the Experts Forum
Join panelists Scott Duhaime of GE Digital and Dave Geiger of GrayMatter for a free “Ask the Experts” online forum about GE iFIX at 2 p.m. Jan. 24 (EST).
This is the second in a series of forums focused on upgrading to iFIX 6.0 and using custom-built, high-performance HMI graphics, which is among the services GrayMatter offers. If you missed GrayMatter’s first iFIX session, you can find it here.
Submit your questions before Jan. 24 so Scott and Dave can address them during the forum.