Information Technology Foresight

The latest thinking on creating competitive advantage through information technology.

July 2016

Here’s what Industry 4.0 means to you

The shift to Industry 4.0 is upon us. Many industrial companies across the world have already incorporated advanced digital technologies into their daily activities and processes. And they are already reaping the benefits.

33% — The proportion of companies that say they have already achieved advanced levels of digitization.

Earlier this year, we conducted a survey of executives at more than 2,000 companies to determine the progress they are making in their efforts to digitize. In this month’s issue of IT Foresight, we feature Industry 4.0: Building the Digital Enterprise, our in-depth analysis of the results. They may surprise you. More than a third of respondents, for example, expect to achieve revenue gains of 20 percent or more in the next five years. How well prepared is your company to compete in this environment?

Featured Foresights
Judging by the results of our recent survey on the progress industrial companies are making in digitizing their operations, the effort is in full swing. By 2020, almost three quarters of companies surveyed say they will have made significant progress toward fulfilling the vision of Industry 4.0 — and they expect real gains in revenues and lower costs as a result. To get there, however, companies must carefully define the capabilities they will need — notably strong data and analytics expertise — and develop the digital talent and culture needed to drive the transformation effort.
PwC's Global Data and Analytics Survey 2016
PwC's Data and Analytics group has launched a global survey that explores how data and analytics is helping business leaders make better and faster decisions. We asked executives how they are using analytics within their businesses today and how they’re planning to develop their organizations’ decision-making capabilities over the next five years. Learn what over 2,100 executives in 26 countries say about making big decisions in the age of machine learning, and the role of human judgement in that effort.

Information Technology Foresight archive

October, 2018
What do you call companies that have successfully implemented Industry 4.0 technologies, developed the requisite ecosystems and nurtured a digital culture? We call them Digital Champions.
September, 2018
The great virtue of blockchain is the essentially trustworthy nature of the technology, and the vast majority of companies are actively looking into its use.