Succeeding in the age of digital transformation

Subscribe to receive updates on Industry 4.0 The Fourth Industrial Revolution is upon us. The first three were based, respectively, on mechanization, mass production, and computing/automation; Industry 4.0 is all about the marriage of physical and digital technologies. Just as with the previous revolutions, Industry 4.0 is disrupting and redefining industries. This time, however, the revolution is progressing with unprecedented speed, driven by smart, connected technologies that are developing at an exponential rate.1 These technology innovations--including cloud computing and platform technologies, big data and analytics, mobile solutions, social and collaborative systems, Internet of Things (IoT) technology, and artificial intelligence (AI)--are fueling and accelerating a new era of digital business transformation. They're reshaping how organizations work, innovate, and create products--and enabling completely new kinds of products and services.2 They're spurring businesses to invent new business models and reimagine how they deliver value to their customers and markets. More broadly, industry boundaries are expanding and blurring, and relationships with business partners are being redefined. Yet too many organizations remain unprepared for the new revolution. A recent Deloitte Industry 4.0 study of C-level executives around the world indicates that, across all industries, only 14 percent of CXOs are "highly confident" that their organizations are ready to harness the changes associated with the new era.3