Technology Is Not Magic

Success relies on the precision of your business outcome definition?

Why do so many good ideas not produce the results people had hoped for and expected??

The idea might be solid and the technology amazing, but a crucial early step in the process was missed or mismanaged: defining the business outcome.??

People will grab hold of the latest technology and throw it at a business outcome hoping for a fix – as if that technology will magically address a wide range of issues. It could but it probably won’t.?

More than a decade ago industry leaders were discussing a new concept: Industry 4.0, the rapid change that’s occurred to technology, industries, and global processes made possible by increasing interconnectivity and smart automation.??

The industrial internet of things (IIoT), virtual and augmented reality, autonomous and artificial intelligence (AI) informed machines have changed manufacturing. After 10-plus years of applying this technology, now is the time to take a step back and think about what’s worked, what hasn’t, and why, as we look toward the future and Industry 5.0.?

Precision is Priority??

Companies want to move to the cloud, or use AI, or improve connectivity (replace wires with wireless) and people become frustrated that they’ve invested in these technologies, yet they are not seeing the results they expect.?

Be precise about the problem you are solving and focus on the business outcome you desire, rather than selecting technology and working backwards.?

Business problem first, technology second.??

Technology Creates Possibility?

Technology is not magic. There must be synergy between technology, business model innovation and user experience. Creating the right experience is the best way to realize the benefits of your technology investment.?

Think of it this way: technology creates possibilities and harnesses potential. The final determining factor in the created value and success of those possibilities is the user experience. The best business outcome definition and technology still will fall short if the experience is less than it could be and not adapted to the targeted users.?

For example, how often do you look at the user manual for your smartphone? Never. Because the user experience is just right.??

Why do Software-as-a-Service and subscription services work? Because you pay for what you value, so the business model is consistent with the way the value is delivered.??

In a digital world that’s quickly evolving, we need to look at innovation in a different way, more broadly than simply applying the latest technology to new and persistent challenges, hoping to get a different (better) result. We must invent and enable the future of manufacturing and industrial operations, from automated to autonomous systems, with a best-in-class user experience and innovative business models.?

Industry 5.0: Paradigm Shifts?

Industry 5.0 expands the existing Industry 4.0 paradigm by highlighting research and innovation as drivers for a transition to a more sustainable, human-centric and resilient industry. Industry 5.0 moves focus from shareholder to stakeholder value and will attempt to capture the value of new technologies to provide prosperity beyond jobs and growth, placing the wellbeing of employees at the center of production processes.??

This concept was articulated in a recent article that was part of the World Economic Forum’s virtual Davos Agenda forum. In it, eight global leaders—including Rockwell Automation Chairman and CEO Blake Moret—share examples of how companies are transforming operations and business models while supporting other industries’ transition towards a common set of Environmental, Social and Governance (ESG) impacts.?

This recent report, Industry 5.0: Towards a sustainable, human-centric and resilient European industry, stresses that rather than taking emergent technology as a starting point and examining its potential for increasing efficiency, a human-centric approach in industry puts core human needs and interests at the heart of the production process. Rather than asking what we can do with new technology, we ask what the technology can do for us.?

Vulnerabilities Highlight Opportunities??

The COVID-19 crisis has highlighted vulnerabilities of our industries, such as fragile value chains, and increased the need for flexible, robust technology to address these vulnerabilities.??

In my article on Tech trends driving Industry to v5.0, I talk about how remote connectivity, advanced engineering with multiple digital twins, mixing physical and digital assets, and the change of human-machine interaction are driving industry along that path toward Industry 5.0.?

Now is the time to define our new normal and to shape the role of technology in industry with a proactive, business outcome-first approach.?