A revolution is underway. Internet, big data, computational networks, algorithms and robotics are destined to change the industry. It is high time to embrace change yourself.
The world is moving rapidly to take advantage of major advances in computational power. Industry 4.0 and, if it can be safely kept in check, AI are expected to yield improvements to efficiency and flexibility which only a few decades ago were beyond our wildest dreams.
We note that the vast majority of opinions and predictions focus on how technology will transform performance and leave those slow to embrace change in the dust. This marks a noticeable change from the recent claims that it is talent, skills and communicative ability that will transform business and that these are supposedly in very short supply. The rush for talent has been overtaken by the rush for integrated circuitry. We, however, believe that everyone should form an orderly queue for a considered approach – one that identifies opportunities for sure, but one that recognizes people already in our businesses, their work to-date and the knowledge of people, systems and processes which they bring with them.
The millions of staff already working in asset rich industries on countless activities and complex problems are not about to be made redundant overnight. To the contrary, without them new technologies have little to no chance of being integrated and successfully installed, let alone deliver their promised potential. We see a real and ongoing need to identify how business processes can be
streamlined and reinvigorated, but also how people and organizational structures can be developed to maximize what already exists. If this can be done in parallel with adoption of new technologies then there is a real chance that the 4th Industrial Revolution will bring worthwhile and permanent gains for all.
In the latest edition of our INSITE magazine we have collected a number of thoughts and ideas from various sources. We hope they will help and inspire you to find your own balance and determine the best way forward for your business.