From Fab Lab Yachay: The ways in which people and organizations use information has shifted dramatically. Data storage is cheap and flexible, and advanced analytics and artificial intelligence are giving us new abilities to draw insights from large amounts of data. Advances in virtual and augmented reality, next-level interfaces, advanced robotics, and additive manufacturing are all opening the gates to digital disruption. And in the next decade, digital manufacturing technologies will allow companies to connect physical assets by a “digital thread”—unleashing a seamless flow of data across the value chain that will link every phase of the product life cycle, from design, sourcing, testing, and production to distribution, point of sale, and use.
While this digital transformation of the $10-trillion-plus global manufacturing sector will play out over a decade or more, pioneers are moving to drive bottom-line and top-line impact in the near term. When we examine manufacturing value drivers and map them to digital levers, we find several opportunities for companies to create value by improving operational effectiveness and product innovation, as well as by unlocking new sources of revenue.
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