Digital innovation is creating major market changes, enabling organisations to work smarter, faster and cheaper. Many observers believe that across all industries it is the beginning of a new industrial revolution, considered to be the fourth such leap forward, and hence labelled Industry 4.0. This industrial technology revolution is triggering even greater global communication and commerce and associated with these developments is an enormous increase in the internationalisation of flows in goods and services.
As Georg Etzel, co-CEO of LEADing Practice, an enterprise standards body, and a thought-leader in the field of Industry 4.0 and digital innovation, predicts: “We are on the edge of a digital transformation that will fundamentally innovate the DNA of organisations. It will also innovate the way we live, work and relate to one another. In its scale, range, space, scope and complexity, it is unlike anything humankind has experienced before.”
