To realize the benefits of these technologies, however, companies need to ensure that data analytics are being applied in the most effective way and communicated to the right people. That often requires a cultural shift throughout the operations — from the C-suite to the shop floor.
As the world’s markets rapidly evolve into complex hybrids of physical and digital assets, cyber security is increasingly critical as a stabilizing force. It is no longer an esoteric art practiced mainly by rival intelligence agencies and giant corporations — it has become a basic necessity of everyday life for any business.
A connected device or machine becomes something entirely new. Think of the multiple roles that smartphones play in our everyday lives; or how cars are turning into communication and navigation platforms with an increasing degree of autonomy. The same revolution is underway in industry.
How can they be better leveraged?
There are lots of ideas out there, but as we argue in a new paper, one of the most effective ways for the labs to increase their economic impact is for them to “go local” and engage more in the advanced industry ecosystems within which they reside.