Digitizing your business before 2030

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  Digitalizing Your Business in the Lead-Up to 2030

By George Walker, Managing Director, Novotek UK & Ireland

Digitalization plans around the world have prompted many governments to take initiatives to accelerate the adoption rate over the next 10 to 20 years. This article explains why companies should digitize their systems sooner rather than later.

Harry Truman once said, "Progress occurs when courageous, skilled leaders take the opportunity to change things for the better." For many companies, there is rarely a chance to offer digital technology and connectivity

The potential value of smarter and more networked systems has not only attracted the attention of business leaders around the world, but has also caught the interest of governments. Countries like Germany, Sweden and the United Kingdom are all trying to strengthen their economies through digital transformation such as 2030 production.

Digital infrastructure is seen as a critical component for businesses to thrive and grow. In the UK, the government plans to invest over £ 1 billion to accelerate the development of the next digital infrastructure, including 5G.

In addition to investing in the next generation of technologies, the UK government has outlined plans in its digital strategy to ensure that adults lacking digital core competencies have free access to basic education. The model reflects the literacy and adult learning approach and will help to improve employment prospects.

While initiatives such as production in 2030 set up long-term plans to optimize the manufacturing industry, companies do not have to wait and should not be afraid of embracing the Internet of Things (IoT) now.

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The IoT movement is growing at a considerable pace affecting virtually every industry sector. It is predicted that the number of IoT devices used worldwide will increase on average by 12 percent per year, which means there will be around 125 billion IoT devices by 2030.

Nevertheless, studies have shown that many executives want to follow the trend, rather than being seen as leaders on the way to the industrial Internet. As history shows, the faster introduction of modern technologies not only offers the advantage of gaining more market share, but also the opportunity to open up new potential markets. If companies do not accept the IIoT, they run the risk of being left behind. So why wait?

One of the main reasons for companies to delay digital transformation is concern about lack of internal experience in using the required technologies. That's why GE has developed its cloud-based Predix platform. Predix is ​​a service-based platform (PaaS) that can assemble industrial analytics for asset performance management and operational optimization.

As a company that also builds heavy machinery, GE understands the needs of manufacturers and has tailor-made its software specifically for industrial applications. By providing tools such as asset connectivity and industrial grade security, Predix allows manufacturers to connect areas of the business that have traditionally been isolated. This includes everything from the areas of engineering, manufacturing, supply chain and service of a company.

While initiatives like Production in 2030 should motivate companies to work more efficiently, the advisory schedule should not dissuade Swedish companies from trying to digitize their systems now. The sooner the system of a company is digitized, the greater the chance that it will gain a competitive advantage in the industrial market.

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