Toward the next horizon of Industry 4.0
Building capabilities through collaborations and startups
With the onset of the fourth Industrial Revolution, also known as Industry 4.0, a new competitive landscape is being formed. Organizations should think strategically when determining where to focus and invest to build their capabilities.
We explore several avenues for organizations seeking to build and evolve Industry 4.0-driven capabilities that are more advanced or mature: collaborating with external partners, or investing in startups with the relevant expertise.
As organizations seek to evolve along Industry 4.0 horizons and adopt a series of new Industry 4.0-driven capabilities to improve their organizations, they can consider the following:
- Start with small steps
- Pilot developing solutions
- Designate an innovation officer
- Develop innovation partnerships
- Invest in the future