Tag: fourth industrial revolution

Finally a framework to manage holistically Industrial Revolution 4.0

Introducing the Smart Industry Readiness Index Prioritization Matrix

I was really pleased to watch the official launch of the Smart Industry Readiness Index (SIRI) with its addition of the Prioritization Matrix at Hannover Messe on Monday 1st April 2019.

This will become a very useful and relevant management planning tool to help manufacturers worldwide to determine and prioritize their necessary areas of focus with all the digital initiatives, based on an Industry 4.0 Maturity and their current performance.

This tool or readiness prioritization index has a real potential to finally bring organizational wide awareness and common language identification. It can help implementation in a number of significant ways.

This has been pioneered by The Singapore Economic Development Board (EDB), a very formidable Government entity within the development of Singapore over the years, and in consultation and growing support, from McKinsey & Co, SAP, Siemens, and TüV SüD.

The framework is a very systematic and I feel, a robust way, to focus on what matters to you in your own Industrial Revolution 4.0 journey (IR4). So often organizations do not have a clear vision, strategy or can develop a systematic roadmap for this form of transformation. It becomes overwhelming and a real challenge of where to start. Often the more you read, seek advice, the more you get confused. Continue reading “Finally a framework to manage holistically Industrial Revolution 4.0”

My 5 S for future Innovation: Smart, Stacks, Scale, Storage, and Software

Technology is radically altering our need for innovation. We see increasingly innovation is feeding off the “digital response rate”

Connecting technology and innovation is altering how we should re-access organizations ability to build out. We are in the middle of a technological-led industrial revolution It is becoming highly dynamic.

****I decided to revise this post as I originally got caught up in “conflation”. Two ideas merging as one and it simply lost the insights of each, simply attempting to fuse different thoughts into one entity. It honestly did not work and I struggled with what to do.  By splitting them up they become separate reads and more digestible and hopefully of better value. I have to admit this is not the first time I get caught in this  (or I expect the last!) and I apologize to you, as the reader *****

So here I outline a 5S framework to trigger some opening thoughts on breaking down technology design complexity. The other post, now over on my other site, deals with the growth of “apps” in IIoT “Great apps will deliver the future business value in IIoT” and is predicting a changing future based on some recent takeover announcements.

So getting that embarrassment behind me lets go back to the 5S idea.

Arriving at a designed outcome is getting complicated. Developers get caught up in the details, rightly so, to deliver on a connected world but you must always ask the “what for?”

The more I was thinking I was trying to cut through all this “unnecessary fog” as a non-techie so I started to build my 5S idea. Let me share it
 Continue reading “My 5 S for future Innovation: Smart, Stacks, Scale, Storage, and Software”

Optimism in Innovation, Thinking About Risk Differently

For me, there is never enough talked about innovation risk. Innovation is held back so often because the quantification of it’s risk cannot fit into an organization’s current assessment and measurements of risk.

Innovation is often too intangible, full of unknowns as the very nature of anything new and different. Innovation risk leaves many executives very uncomfortable.

Organizations get uncomfortable when the words “radical” “intangible”, “unknowns” and other words like these when they form part of the conversation. It often starts to induce that “risk twitch” where that careful management for short-term performance might become threatened, or the manager feels any decision is ‘going out on a limb’ and possibly career threatening.

That growing uncomfortable feeling that innovation places their bonus at “risk” so they like to ring-fence innovation as much as possible. Now some of that ring-fencing is fine, you contain a risk to keep it manageable but most innovation does not constitute organization risk, yet it gets caught up in that risky fear that innovation seems to induce. Actually, if we were managing innovation at the core, our risk management for it would be very heightened and managed differently, but how many of our companies’ have innovation as their core?

So I always welcome discussion on risk and innovation. The more we talk about it the better for what is coming towards us. Continue reading “Optimism in Innovation, Thinking About Risk Differently”

Innovation cannot expand without the 4th Industrial Revolution

We are a long way away from fully capturing the benefits of the Fourth Industrial Revolution (4IR) in an inclusive and holistic way. To do this, technology adoption and diffusion across the ecosystem needs to improve dramatically.

In a recent report, jointly from the World Economic Forum and McKinsey called the “The Fourth Industrial Revolution and the factories of the future” they made a number of observations

“After a decade of flat productivity, the arrival of the Fourth Industrial Revolution (4IR) is expected to create up to $3.7 trillion in value to global manufacturing. A few years back, experts noted that the changes associated with the 4IR would come at an unprecedented rate yielding incredible results for those who truly embraced them.

Still, the hockey stick of benefits has not kicked in yet – while all companies are making efforts to adopt technology, most of the production industry (~70%) remains in pilot purgatory (where technology pilots last for extended periods of time, and companies do not take the final step of scaling up viable technologies). Less than 30% of manufacturing companies are actively rolling out Fourth Industrial Revolution technologies at scale”

No wonder we presently have trouble attracting many businesses onto platforms when they are still very much behind in deciding or deploying a strategically thought-through IIoT digital design, that is connecting everything up.

It is equally holding a new form of innovation back, one that is highly collaborative where partners come together to work on more complex problems. Collaborators can achieve solutions only by being “fully” connected up, comfortable with their data, understanding and contribution, both within their knowledge and insights.

The power of multiple-connected ecosystems gives innovation a completely different momentum but it needs this 4th industrial revolution to be fully operative, for a digitally connected world in manufacturing and beyond. Continue reading “Innovation cannot expand without the 4th Industrial Revolution”

Shifting our thinking within the Fourth Industrial Revolution

I always enjoy selected parts of the World Economic Forum meeting in Davos and in this year’s #WEF18 agenda, it certainly had its good points. I don’t attend, I listened and read.

Overhaul though, I was a little disappointed, as it lacked the real leadership insights you come to expect, strong personalities did not seem to shine through this year from the speakers and panelists. They gave fragmented insights for the future, mostly seemed to be retrospective, caught in the present, or simply trying to catch up.

I certainly felt the WEF theme for this meeting, of “Creating a Shared Future in a Fractured World” showed through, actually more re-affirmed as fractured. We seem all to be still working on what the future will look like, as it is in danger of being fractured even more before it coalesces around new directions and order.

Some suggest we should allow the future to just simply unfold but I don’t share this view, our future does need to be shaped in so many ways but in what ways and what to allow to “simply evolve” is a very complex question and we are not getting many cohesive answers. So, it continues where it continues, based on individual perspective. The future is never easy to map out but you would expect more answers than questions

Yet what this forum provided, was in its bringing me back to refocus on the Fourth Industrial Revolution. It helped deliver a far sharper focus on its impact, potential, and scope beyond just manufacturing. Now, this was the major ‘bright spot’ of future collaborative potential for us all. Also the growing concensus around the skills and future of work Continue reading “Shifting our thinking within the Fourth Industrial Revolution”