The UK manufacturing sector is undergoing a period of profound disruption, driven by the need to harness the power of novel technologies — cloud, data analytics, Internet of Things — to drive business outcomes. In fact, 77% of Europe’s manufacturing powerhouses say digital disruption will impact their businesses in the next three years.
The Chinese economy has depressed the prices of many manufactured goods, while the strong pound continues to batter the earnings of the UK’s manufacturing companies at a time when economic growth is sluggish.
By deploying connected products, machines and new service models, manufacturers are able to seize on new business opportunities and gain competitive advantage.
CIOs are at the forefront of this Fourth Industrial Revolution. IT leaders must initiate, drive and sustain digital innovation acrosst heir organizations. The ability for CIOs to transform their businesses to become more agile and innovative will determine whether they not only survive, but thrive.