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At China's Minds + Machines Conference, GE announced a study highlighting the new gap between executives' vision for digital transformation and corporate initiatives. Surveys of information technology (IT) and operational decision makers found that while these companies see the Industrial Internet of Things (IIoT) as an important opportunity for future growth and competitiveness, the vast majority have not taken the necessary actions to benefit from these opportunities. .
According to this report, industry executives are optimistic about the potential of the industrial Internet. Eighty percent believe that industrial Internet of Things will or may be the direction of transformation of companies and industries. More people think that the transformation of the digital industry is crucial to competitiveness. At the same time, only 8% of executives believe that the digital transformation has been deeply rooted in its business, while 10% do not have a digital transformation plan.
Based on this research report, GE created the "GE Digital Industrial Development Index" to track the actual progress of digital transformation - from the perspective of the industrial Internet of Things to the preparation for transformation. The first index scored 63 points (total score of 100), which indicates that although the prospect of the Industrial Internet is very strong (score 78.3, total score 100), the company's preparation is significantly behind (55.2 points, 100 points total). The gap between this vision and the readiness of the company presents challenges and opportunities for companies seeking to benefit from the IoT.
Other findings include: Digital transformation is critical to growth and competitiveness: 86% believe that digital industrial transformation is critical to the company’s competitiveness, and most of them (76%) believe that the ability to provide better services is digital The primary outcome of industrial transformation; the most important aspect of industrial IoT is connectivity and industrial applications: the vast majority of IT and operational decision makers (IT/OTDM) use connectivity (63%) and industrial applications (58%) as digital conversion facilities. Key technologies required; industrial IoT platforms, applications, and analytics are investment priorities: Respondents view industrial IoT ready platforms (22%), industrial applications (14%), and big data analytics (14%) as The most important technology for investment; Cost issues: Most respondents see investment costs (42%) as a major obstacle to digital transformation, followed by system security (32%) and data privacy (32%); digital transformation will require organization Change: 54% of IT and operational decision makers believe their organization needs a transformation to achieve digital transformation.
According to the report, 66% believe that the data analyst needs to be integrated into all departments/units; 61% believe that the IT function needs to be part of the company's central operating function; 55% believe that their company has the responsibility to ensure that employees are industrial products. Prepare for networking.
(Original title: GE released "Digital Industry Development Index" research)
February 11, 2024