ComplianceFebruary 02, 2021

Top Six Industry 4.0 Trends to Drive Business Transformation

Digital technology makes it easier than ever to improve operations precisely where the business needs them. Yet heavy industry—the resource sectors, including oil and gas and chemicals—lags significantly behind other traditional sectors.

Why? Processes, procedures and ways of working in heavy industry are often not designed for the digital age, holding back the value that digital tech can deliver.

There is a massive source of untapped value to be gained from digital tools. Companies have been focusing on the hardware side of digitalisation, but the digital enablement of people and processes will drive as much—and if not more—value. There is a huge amount of white space.

These six digital enablers will drive business transformation, to improve processes from within your operations and positively impact your bottom line:

  1. Industry 4.0/X.0 and plant ecosystems
  2. “Everything-as-a-Service”
  3. Consumer tech driving the industrial experience
  4. Demise of the monolith and single-use apps
  5. Data everywhere
  6. Blurring of the digital and physical worlds

Work Faster, Better

The real value is the digital enablement of people in the plant, especially of the increasingly younger and tech-enabled generation working on the plant. With digital tools, operators work faster and better.

As consumers, we clearly see the value in digital interaction. With a few keywords in a search engine, we are able to simultaneously book a flight, find a hotel and coordinate ground transportation. What used to take days, when settled by a travel agent, now takes minutes.

This same user experience doesn’t have to stop when the operator starts work on the plant. As digital consumers, it is fair that workers expect technology to bring the same level of UX design to the field. Today’s workers have a set of inherent tech skills on which digital tools can easily capitalise.

Decouple Operations from the Market

Recently, all industries have been slowed by the COVID-19 crisis. As businesses look for new ways to cut costs, looking internally to improve processes will result in long-term and robust results. Now is the opportunity to steel the business from market fluctuations. And lessons learned can turn into robust business strategies to modernise the business.

Ultimately, the goal for any business in the resource industry should be to decouple its operations from market trends. Digital enablers can improve any of these business models.

If ever there was a time to leverage that understanding and drive the right decisions, it’s now. Taking a focused, business-driven approach will allow you to take your business to greater heights than ever before, improving efficiency, empowering workers and driving new innovations. With Industry X.0 as a business priority, you can use the power of digital to integrate the opportunities of tomorrow into your operations and dramatically enhance your business results.

Tina Amirtha
Product Manager at Wolters Kluwer | Enablon
Back To Top