Why Siemens put $10 billion into digital transformation

Since 2007, Siemens has invested $10 billion in US software companies to drive digital transformation in various industries including manufacturing, energy management, and transportation. Siemens has increased its research and development spending by 30% since 2014 in a push to develop new technologies. In 2017, it will spend an additional $300 million on R&D, to reach $5.4 billion. Siemens hosted an Innovation Day on Monday to showcase new technology, including MindSphere, its cloud-based, open IoT operating system. "Siemens is driving the digital transformation globally and in the US," said Roland Busch, CTO and member of the managing board of Siemens.