Smart factories will boost global economy

A new study from the Capgemini Research Institute has found that smart factories could add at least $1.5 trillion to the global economy through productivity gains, improvements in quality and market share, along with customer services. However, two-thirds of this overall value is still to be realised: efficiency by design and operational excellence through closed-loop operations will make equal contributions. According to the new research, China, Germany and Japan are the top three countries in smart factory adoption, closely followed by South Korea, United States and France.

The report entitled “Smart Factories @ Scale” identified the two main challenges to scaling up: the IT-OT convergence and the range of skills and capabilities required to drive the transformation including cross-functional capabilities and soft skills in addition to digital talent. The report also highlights how the technology led-disruption, towards an ‘Intelligent Industry’, is an opportunity for manufacturers striving to find new ways to create business value, optimise their operations and innovate for a sustainable future.

According to the report, organisations need to learn from high performers (10% of the total sample) that make significant investments in the foundations – digital platforms, data readiness, cybersecurity, talent, governance – and well-balanced “efficiency by design” and “effectiveness in operations” approach, leveraging the power of data and collaboration.

Jean-Pierre Petit, director of digital manufacturing at Capgemini said: “The move to an Intelligent Industry is a strategic opportunity for global manufacturers to leverage the convergence of Information Technology and Operational Technology, in order to change the way their industries will operate and be future ready.

Read the full report at www.capgemini.com/gb-en/research/smart-factories-at-scale/

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