Thanks to digital development, products become increasingly advanced, and services and business models can be built around products in entirely new ways. The interaction between companies, suppliers, partners and customers becomes even more efficient when information passes through the value chain through seamlessly connected data systems.
Companies are investing heavily in Internet of Things solutions. Right now, there is talk of an approaching fourth industrial revolution that is further accelerated by technological development. The number of devices linked to each other through the web has been estimated to grow to 50 billion by the year 2020. The competitiveness of Finnish industry is facing challenges, and it is therefore crucial for it to succeed in the digital change in industry.
Digitalisation is high on the agenda of the top management of industrial companies: according to the Digital Factories 2020 publication, nine industrial companies out of ten are investing in the digitalisation of factories. Keys to success include digital concepts and technologies such as preventive maintenance, connected sensors or 3D printing. On their journey towards digitalisation, companies also face challenges, as one half of the respondents in our survey believe that employees are not open to digital change and that there is no genuine digital culture at their companies.
Partner, Consulting Leader, PwC Finland
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