At the unveiling of the latest Accenture and GIBS (The Gordon Institute of Business Science) Industry X.0 whitepaper held in Johannesburg, Accenture discussed how tailored innovative ideas can promote Industrial Growth and enhance customers’ experience.
Accenture suggests Industry X.0 as a way for South African companies to develop unique approaches to digital transformation and reignite industrial Growth.
Industry X.0 is based on cyber-physical production systems that combine communications, IT, data and physical elements.
These systems transform traditional plants into smart factories. Here, machines “talk” to products and other machines, objects deliver decision-critical data, and information is processed and distributed in real time resulting in profound changes to the entire industrial ecosystem.
The Industry X.0 white paper takes an insightful look at the business impact of the Internet of Things movement on the industrial sphere, and shows how Industry X.0 can be harnessed for major competitive advantage, profit and growth.
Accenture global research highlights six digital imperatives businesses need to achieve to become Industry X.0 organisations.
- Transform the core,
- Focus on experience and outcomes
- Innovate new business models.
- Build the workforce
- Re-architect the new ecosystem
- Manage a wise pivot
To succeed as digital enterprises, companies must look beyond traditional productivity and efficiency measures, and identify new ones that make the most of the big data and advanced analytics capabilities available to them.
“Becoming an Industry X.0 company depends on the culture and the ambition of the company. Industry X.0 businesses need to adopt an approach that will ignite value for their customers and themselves, and Accenture ignites Industry X.0 as the way to do it,“ says Raghav Narsalay, Managing Director AIHP Accenture Mumbai.