Across industries, technology is changing everything. It’s become embedded in products and services and is essential for core processes and service delivery. CEOs and business leaders must ask: How can we manage digital innovation, digitize and support the core business, and reduce complexity and risk? How do we accelerate the digital transformation? How do we create value with our technology function—now and in the future?
Internet of Things
The Internet of Things (IoT) is a system that connects physical objects to the Internet and enables to identify themselves to other devices. IoT will have a huge impact on how we live and work. Analysts project by 2025, data from connected devices will yield insights driving potential economic value of as much as $11 trillion (McKinsey & Company, June 2015). This is about 3 – 10% of world GDP by then. Internet of Things is driving 71% of COOs to re-evaluate their operating models. 91% of business leaders in the Electronics industry say Internet of Things will reshape their organization’s brand identity.
Smart homes, the Internet of Things, social media, mobile applications, and other technologies are generating an unprecedented amount of multistructured data. That’s where cognitive computing comes in. Machine learning and other techniques help us to understand this data and turn it into insight which can help automate certain tasks, enable manufacturers to design better products, innovate new services and enable humans to make better decisions.
This “big data” has the potential to transform businesses and industries and to unlock tremendous value. It transforms how companies organize themselves, decide which technologies to use, and build ecosystems of partners and vendors. This valuable information (Big Data) is considered the new gold. Research shows that the effective use of data analyses can increase productivity, profitability and market value by 5 to 6%. The time has come to value data as a strategic asset that can help you win.
More and more applications are emerging that require end-node intelligent sensing capabilities. These applications cross various industry segments, including building automation, medical health and fitness and personal and portable electronics.
Sensors, managed and controlled by microcontrollers, will provide the information and data that applications need to respond, operate efficiently and, in general, more effectively serve users who benefit from them. We can measure the freshness of food, and also manage our own health by sensors. In the future everyone wears a device with sensors which can determine exactly what is going on, then a computer as Watson sets together a personalized medicine that rolls from the DNA printer at home. Preventive health care is now the focus in the medical sector.
3D printing, or additive manufacturing, has come a long way from its roots in the production of simple plastic prototypes. Today, 3-D printers can not only handle materials ranging from titanium to human cartilage but also produce fully functional components, including complex mechanisms, batteries, transistors, and LEDs.
The capabilities of 3-D printing hardware are evolving rapidly, too. They can build larger components and achieve greater precision and finer resolution at higher speeds and lower costs. Together, these advances have brought the technology to a tipping point—it appears ready to emerge from its niche status and become a viable alternative to conventional manufacturing processes in an increasing number of applications. And even 4D-printing already exists, which adds time to the product. This means that the printed product can change of shape for instance by temperature or fluid.
Robots are now an integral and unstoppable part to the success of the world’s economy. So, it is not surprising that these highly automated economies are rapidly adopting the industrial robot focus. Globally, it is estimated that 1.3 million industrial robots will arriving in factories by 2018.
Most of the impact robots have on society is positive, as they help improve human health and improve the efficiency of industrial and manufacturing processes. While robots are better suited for some tasks than people are and are therefore ultimately likely to take over most of these tasks, many industry leaders suspect that robots are not likely to cause large scale job losses.They also create jobs, as humans are necessary to design, build and maintain them. The need for creative, problem solving and critical thinking skills will grow.
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