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Industrial & Automotive: retooling for digital advantage Accenture Technology Vision for Industrial 2016

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Page 1: Industrial & Automotive – retooling for digital advantage€¦ · people to do things di˚erently, and do di˚erent things, is redefining the industrial sector. The IIoT is extending

Industrial & Automotive: retooling for digital advantageAccenture Technology Vision for Industrial 2016

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Pivoting to digital: New technologies aren’t just transforming how industrial companies manufacture their products. They’re also having a profound impact on workforce and marketplace dynamics, creating new pathways for collaboration – amongst people, machines and organizations. Increasingly, companies’ destinies will be defined by how successfully they use digital to reorient their workforces, enable collaboration and both anticipate and drive disruption. Technology still matters, of course. But it’s how people interact with technology – and the opportunities this creates – that’s at the heart of this year’s Accenture Technology Vision for Industrial Equipment and Automotive Companies.

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Introduction

Technology is a driving force for the industrial and automotive sectors, continuously reshaping and reinventing how companies create products, manage their operations, and innovate new service-based business models and value propositions. But along with technology, there’s a crucial new dimension: People. More and more companies are discovering that it’s how technology and people work together that is creating whole new vistas of opportunity.

No surprise that the mantra for this year’s Accenture Technology Vision is “People First”. It’s a rallying cry that’s every bit as relevant to industrial companies as it is to their counterparts in other sectors. The role of technology has shifted to become an enabler that helps people and businesses to do things better, think di�erently and create new revenue streams.

Of course, people inside the business – and the ways in which they work alongside new digital technologies – have a critical role to play. But industrial companies face another pivotal development where collaboration and new ways of working outside the four walls of the business are becoming increasingly influential. The rapid spread of the Industrial Internet of Things (IIoT) is a particular driver.

According to the Accenture Technology Vision 2016 survey, eighty-four percent of industrial executives believe that the IIoT will significantly change their industry. And a quarter of them believe that the IIoT will engineer a complete transformation. Its potential is huge. According to GE1, if the impact of IIoT adoption by industrial companies is just one percent extra productivity worldwide (a conservative estimate), that would lead to an additional US$10-15 trillion of global GDP over the next 20 years.

Some businesses are well aware of, and responding to, the extent and pace of disruption. Companies like Caterpillar with its connected equipment, Michelin’s pay-by-the-mile business model for tires and Siemens’ IIoT platform for collaborative innovation are all pursuing bold strategies that harness digital technologies to forge new industrial paradigms. And critically, they’re doing so by bringing together people and technology in innovative and exciting ways.

It’s a phenomenon that’s playing out in all five key trends of this year’s Technology Vision: Intelligent Automation, Liquid Workforce, Platform Economy, Digital Trust and Predictable Disruption. In the following sections, we’ll examine each of these in more detail.

Accenture Technology Vision for Industrial 2016 3

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TREND ONE

Automation is a defining characteristic of industrial businesses everywhere. But today, its principal purpose is no longer solely cost reduction and operational e�ciency. In fact, in our survey, industrial executives say that their top reason for automating tasks is to innovate and create new business models. This is in contrast to their global counterparts across all industries who are still focusing automation on achieving e�ciencies and cost savings.

IntelligentAutomationThe essential new co-worker for the digital age

Our research shows that industrial companies are more likely to have increased their spending on intelligent automation technologies across the board in the past two years.

of industrial organizations plan to increase their investments in machine learning

of companies across all other industries

compared to

What’s more, they plan to increase their investments in this area significantly faster than their counterparts in other industries.

have increased their investments in machine learning (ahead of the global average)

have increased their investments in deep learning (ahead of the global average)

CHECK-IN

4 Accenture Technology Vision for Industrial 2016

TREND ONE

Automation is a defining characteristic of industrial businesses everywhere. But today, its principal purpose is no longer solely cost reduction and operational

that their top reason for automating tasks is to innovate and create new business models. This is in contrast to their global counterparts across all industries who are

cost savings.

IntelligentAutomationThe essential new co-worker for the digital age

Our research shows that industrial companies are more likely to have increased their spending on intelligent automation technologies across the board in the past two years.

of industrial organizations plan to increase their investments in machine learning

of companies across all other industries

compared to

What’s more, they plan to increase their investments in this area significantly faster than their counterparts in other industries.

have increased their investments in machine learning (ahead of the global average)

have increased their investments in deep learning (ahead of the global average)

CHECK-IN

4 Accenture Technology Vision for Industrial 2016

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Industrial and automotive companies use automation across the vast majority of their processes to achieve multiple objectives. These include enhanced product maintenance capabilities, using innovative predictive technologies and improved manufacturing plant capabilities that bring together people and machines to create new, more agile ways of working.

Objectives like these are part of a vision of the future that Accenture calls the “Perceptive Enterprise”. So what do we mean by that? It’s an enterprise that senses and responds quickly and seamlessly to the needs of its businesses and customers through smart technologies that intuitively relate core business processes to their desired outcomes. It’s a world in which connected devices tell us everything about the environment that surrounds them. Where there are autonomous machines, but people are in control. Where ubiquitous analytics create total situational awareness. And where the industrial infrastructure is connected through economies of scale from extensive arrays of sensors and networks.

This is obviously a vision that no company has yet fully realized. But many are moving towards it at pace. For example, Caterpillar enables its customers to receive fast and accurate information about the location, use and condition of all their equipment. And that helps Caterpillars’ customers to improve e�ciency right across their operations.

Caterpillar is also taking advantage of sophisticated automation to enable autonomous haul trucks to work safely and productively on busy mine sites, in di�cult and/or inaccessible locations. More than just an operator-free equipment system, it has developed a complete haulage solution that delivers solid, bottom-line results and, thanks to their sophisticated embedded technologies, ensures the company’s vehicles can operate reliably and safely around other mining equipment, light vehicles and site employees.

Siemens, meanwhile, has automated some of its production lines to the point where they can run unsupervised for several weeks, with over 1,000 employees focused on monitoring the production process. The impact is significant. It’s moving to a point where the machines will become largely self-organizing, with the ability to respond automatically to new orders, making the industrialized manufacture of highly customized products (to order) a reality2.

Automation technologies are also now starting to have a major impact on the supply chain. Digital technologies are enabling a shift away from traditional linear models to a digital supply network, which integrates people and technology in new configurations. Activities are orchestrated by “control towers” that have total end-to-end visibility, with decision-making supported by analytics and processes connected through automation. Fully automated warehousing (including wearable technologies like Google Glass for scanning inventory), along with forecasting and demand analytics are now beginning to create truly intelligent supply networks that can respond to the rapid pace of digital business where lead times are increasingly compressed.

One industrial segment, automotive, is perhaps experiencing some of the most rapid and pervasive impacts of automation (and that’s far from limited to driverless vehicles). Everything from design through to the in-car experience is being transformed by digital. It’s no coincidence that so many automotive companies now have operations in Silicon Valley. In fact, it’s arguable that these companies will soon be indistinguishable from software businesses. They’re increasingly measuring their productivity, not in terms of vehicles o� the production line, but by the number of lines of code shipped per day.

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That’s no surprise. New skills are urgently needed. The shift from human-centric workforces to human-machine-centric workforces is well underway. Technology’s power to allow people to do things di�erently, and do di�erent things, is redefining the industrial sector. The IIoT is extending in scale and sophistication all the time. And with machines and artificial intelligence joining the workforce, the reality of a truly connected, adaptable and change-ready workforce has truly arrived. Its potential is, quite simply, enormous. The promise for industrial companies is vastly increased manufacturing productivity, alongside fast-improving operational e�ciency, safety and risk management.

The big question: How prepared are today’s industrial manufacturers to embrace this kind of workforce? The answer, for now, is that few companies are currently doing enough to make it happen.

A recent Accenture survey3 in this area found just 22 percent of executives in industrial equipment companies say they’ve actually started to build the workforce they need for tomorrow’s world.

The penetration of digital technologies into industrial companies is having a profound impact on the workforce in these organizations. The priority for most companies is now to find ways of reskilling and retooling their people to take advantage of the enormous benefits that digital can bring. In our survey, we found that 90 percent of industrial executives say that training their workforce has become more important than it was three years ago. Thirty-five percent state that it’s become significantly more important.

LiquidWorkforceThe workforce for today’s digital demandsTREND TWO

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So what are the key characteristics of that workforce? We call it the “Liquid Workforce” and for industrial companies there are four major dimensions for its development.

The first is the acceleration that digital is creating in the need for industrial giants to think and act like start-ups. Large businesses have developed over many years to become process-centric and built around distinct functional domains that assume responsibility for particular areas of activity. In contrast, start-ups operate without any comparable constraints or limits on their agility, flexibility or responsiveness. Businesses that start life as true innovators have a tendency over time to lose their innovative edge as they grow. Their imperative now is to recover that early drive and openness to experimentation.

To do that, they need to address not only how they’re organized, but also the prevailing attitudes of the workforce. And it’s a sizeable cultural shift. Moving to more agile ways of working is essential to meet the demands of markets characterized by rapid and pervasive change. Corporate cultures dominated by an engineering mindset fixed on achieving perfection must instead understand that “just good enough” will often do fine. Acquiring start-ups, or creating incubator cells within the larger business, are both viable routes to generate this new mindset.

Many of the world’s largest industrial companies are acting on this right now. They’re building operations in tech hubs like Silicon Valley to tap into the prevailing digital zeitgeist. Take a look at GE. The company is actively changing its culture from a conventional Global 2000 mindset to behaving more like a start-up. Through a new approach called FastWorks, GE is embedding lean start-up practices into the workforce, pushing it to change faster and make smarter decisions, while staying close to customers. It’s doing away with rigid approval processes to instead allow employees to make rapid changes to their projects or quickly switch direction. And the organization bolsters the evolving demand of these projects by providing constant training that gives employees the skills they need to adapt and thrive.

And it’s working. GE’s FastWorks methodology enabled it to build a new regulation-compliant diesel engine for ships nearly two years ahead of its competitors. Using the same

approach, GE Appliances was able, in less than one year, to design and deliver a high-end refrigerator that sold twice as well as preceding models.

The next key component of a Liquid Workforce is the focus on cross-functional collaboration that digital is making increasingly important. It’s where IT steps into its own as an accelerator and enabler of deconstructing the silos between functions and disciplines. As they develop and launch new, smart and connected products, businesses increasingly require a holistic view of the value chain, from ideation to market and ongoing maintenance. That means bringing together know-how located right across the organization, as well as from key stakeholders, partners and even customers in their broader ecosystem.

To achieve this, companies are investing in collaboration solutions. For example, ABB is investing in a new global cloud-based solution that will enable knowledge sharing by breaking down the barriers between silos and providing a truly customer-focused approach to every issue. And it’s an approach that’s in line with our survey’s findings.

These show that 79 percent of executives agree the workforce will soon be structured more by projects than by job functions.

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An essential element is the introduction of new workforce skills and profiles to address the increasingly digital and data-driven nature of industrial products. By using automation to shift repetitive tasks to machines, companies can free people up to spend more time on value-adding data-oriented tasks that drive business productivity and new revenues. Machines can help address the challenges of an aging workforce, by assisting people to perform physically demanding tasks.

At the same time, companies need to plan for the new digital workforces that they will have to attract and retain. Skills such as big data analysis and machine management and programming will all become increasingly in demand. Programmers, analytics experts and data scientists are all therefore fundamental to the successful development and delivery of new products and as-a-service business models. What’s more, their skills need to evolve from the preserve of the few to common workforce attributes. However, of course, those exact same skills are precisely what large tech companies also value. Therefore, industrial businesses need to e�ect a substantial culture change that visibly celebrates the contribution these people will make. If they’re not able to do that, they’ll soon lose their luster in the recruitment marketplace. In addition, they need to foster a new culture of collaboration between machines and people that rests on securing a change in mindset and overcoming fears in order to see machines as part of a joint workforce.

The final element of the Liquid Workforce relates to the requirement to match team composition and working methodologies with dynamic product development cycles that now prevail in industrial companies. Rather than large R&D teams working in isolation and then passing prototypes to be prepared for production, more agile approaches are needed. This means functions form multi-disciplinary teams. For example, R&D, Service, Sales and IT converging on projects and working with multiple iterative development cycles to push through rapid prototyping and testing. As machines develop greater cognitive capabilities, we’re likely to see them take on more complex tasks and even managerial decision-making. The technology is not there yet, but as they prepare for the demands of the liquid workforce, industrial and automotive businesses need to keep one eye on the future. That will help them ensure that their organization is ready to take advantage of the technology developments that are rapidly taking shape.

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While in the consumer space, platforms have transformed how people buy and sell, communicate and interact with a wide range of companies, products and services, there has been arguably less visible platform development in the large industrial and automotive companies. However, this is changing, and fast. Companies are now investing heavily in digital innovation, with platform business models at the heart of their investment strategies for digital transformation.

According to our survey, 84 percent of industrial executives agree that platforms will be the connective tissue that brings organizations together in the digital economy. And the same percentage agrees that platform-based business models will become a core element of their growth strategies within the

PlatformEconomyInnovation from the outside, inTREND THREE

next three years. Revealingly, they rank the new revenues available from operating in complementary markets enabled by platforms as the most important component of these growth strategies.

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So what’s the power of platforms all about? Just as collaboration will be a vital new feature of the workforce from now on, the ability to link into new networks of partners, suppliers and customers creates new ecosystems of opportunity for industrial companies. Industry boundaries are blurring and barriers to entry and exit are coming down in digitally contestable markets. Thanks to the proliferation of the IIoT and wider digitalization of society, industrial companies that once functioned as B2B businesses can now extend into B2B2C operations. This recognizes the advantage that comes from freely flowing data onto open platforms.

Let’s zero in on one sector of the industry: automotive. The car is increasingly being turned into a platform on wheels. The range of services and applications available through a connected vehicle are limited only by the imagination and creation of third-party developers. By creating APIs, OEMs can o�er access to data that can be harnessed by companies ranging from insurers and entertainment providers to telcos and energy utilities. Commercial models will vary according to business goals. Third parties may pay to use the APIs, be paid to use them, or work in partnership to pursue new sources of value together. However, one thing is still missing: a common industry standard for APIs. Once this arrives, we should see a market poised for lift o� to rapidly realize its potential.

Platforms are already making their mark in the industrial environment. Siemens, for example, is building an open-cloud platform for its industrial customers that enables the analysis of large datasets. It’s an open infrastructure within which OEMs can create applications to fulfill services such as predictive maintenance, and asset and energy management. Through this platform, with its open interfaces, Siemens’ customers can monitor a wide range of equipment ranging from machine tools and industrial robots to machinery such as compressors, located anywhere in the world4.

As industrial companies become more innovative in their development and use of platforms, the distinction between the tech giants and industrial behemoths will gradually fade. In fact, driven by platforms, we’re likely to see a coming together of these two worlds to create new leaders for whom labels like “tech” and “industrial” are almost entirely superfluous.

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Businesses have always collaborated. But digital is transforming where and between whom that collaboration can take place. In short, all limits have been lifted. The focus on creating a better product is shifting to a customer-centric mindset where service, experience and outcomes should dominate thinking.

PredictableDisruptionDigital ecosystems drive the next wave of changeTREND FOUR

Take one humble example: the razorblade. Leaders used to focus on producing the ultimate blade by adding additional features. Now, new disruptive players have stolen significant market share by focusing instead on the customer experience. They’re providing an end-to-end service from online shaving tips to blade delivery and disposal. It’s one instance of the new thinking that can turn traditional business models on their heads.

Industrial companies too are beginning to think in these new customer-driven ways, shifting from products to solutions and, critically, collaborating to do so. Take Farmnet365. It’s bringing a wide range of companies together from multiple industries – financial to manufacturing to agritech – to create end-to-end information and services that help farmers manage their entire operations across the value chain.

Every aspect of the industry is being disrupted by digital platforms and ecosystems, as well as the new participants they attract and enable. Remuneration and funding models are changing from the simple cost-sharing and profit splits

typically found in traditional JVs to much more flexible and agile partnership models based on pay-per-use style arrangements. For industrial companies, outright asset ownership is in decline. Instead, service-based models are increasingly in favor.

For example, Caterpillar with its Cat Connect smart technology and services, or Michelin Tires, whose customers pay by the mile. Models like these increasingly recognize that information, not hardware, is the key asset and source of growth. Positioning the business as close to the source of information as possible is now a key competitive di�erentiator and driver of strategic advantage.

The primacy of information means that companies must develop new data-related capabilities if they are to avoid disruption from new entrants or existing competitors who possess and cultivate deep analytics skills. And remember, the threat of disruption is very real. Per our survey, 84 percent of industrial executives agree that their organizations are coming under increasing pressure to reinvent themselves and evolve their businesses before they are disrupted.

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The emphatic pivot to digital is creating unparalleled opportunities. It’s also upping the risk factor exponentially. In our survey, three out of four industrial executives agree that they’re exposed to more risks than they’re equipped to handle as a digital business. As companies’ products become increasingly smart and connected, they are subject to the same data security and trust considerations to which IT has been long accustomed. From smart tractors to drones, and from connected aircraft engines to the connected oilfield, industrial companies are inadvertently o�ering new opportunities to cyber attackers and possibilities for data breaches that can imperil business reputations and destroy customer trust.

DigitalTrustStrengthening customer relationships through ethics and securityTREND FIVE

Addressing this means taking a new approach to the product development lifecycle so that security and privacy are upfront considerations that are engineered into the product “by design”. Studies5 show that adding security as an afterthought is both less e�ective and more costly. But new security and privacy considerations don’t start and finish with the product.

To embed security and data ethics requires looking along the entire supply chain and the software used to build each product. Any vulnerabilities there will inevitably create problems downstream, with already compromised products being shipped to the market. For example, an automotive OEM operating an extended supply chain may outsource multiple components and data to di�erent third parties. The standards each of

them applies to ensure security and ethical data handling will be as critical as the OEM’s own approach. In a connected world, overall security will only ever be as strong as the weakest link. Companies therefore need to take a careful approach to auditing the security robustness of the vendors they use for product development and manufacture.

And with the development of the IIoT, that world is becoming ever more connected. Billions of devices collect, share and use data in highly complex and fluid configurations. Security thinking for the IIoT is maturing quickly. The first wave aimed to secure the devices themselves. The second addressed identity, managing and authenticating each device in the same way that human users would be. The third wave is addressing the

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huge amounts of potentially sensitive data that devices collect and transmit. For example, where this data is pulled into a data-lake in the cloud, it becomes vulnerable to unauthorized access and analysis and what was thought to be innocuous can become extremely sensitive very quickly. So protection of data on devices, in transit and in the cloud is now becoming a major concern.

How data is used is also a growing challenge. For instance, strategies for monetizing previously unavailable data from systems as diverse as rail and transmit networks, in-car information solutions and industrial equipment need to be carefully thought. Simply because a company can achieve new actionable insights from their data does not mean to say they should act upon them. Over-stepping that mark – albeit inadvertently – has seen some companies attract public opprobrium and regulatory sanctions, both of which are inimical to innovation and business growth.

Most IT programs typically have between 6 and 10 percent devoted to security6. And it’s likely that industrial companies will need to start targeting their own investments in security at a similar level. For example, privacy “by design” should find low-friction ways to achieve users’ informed consent about how their data will be collected and used. This will also need to take into account the various geographic and jurisdictional regulatory frameworks that dictate

standards of data privacy worldwide. Embedding security requires companies to look broadly across how their products will be built and used. That means preparing for the IIoT with protection from network attacks using encrypted communications and addressing identity issues by putting data protection mechanisms in place. Big data similarly needs to be considered from a ‘security first’ perspective, as do cloud environments, along with the software development lifecycle.

It’s a new world. And it requires industrial companies to take a very di�erent approach to data security, privacy and ethics. It may even be time to think about a new executive role: the digital privacy o�cer, whose sole responsibility is to ensure that digital trust becomes woven into the fabric of the whole organization and everything it does.

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Next Steps

It’s clear from the Accenture Technology Vision 2106 that industrial and automotive companies have an enormous range of opportunities to seize from digital. These cut across every aspect of their operations – from workforce strategies to automation on the factory floor and from collaborative platforms to strategies for disruption. As we’ve shown, the expansion of digital also poses some big questions. How to address rapidly expanding cyber attack surfaces, for example. Or how to acquire the talent and organizational agility needed to increase the potential benefits that the platform economy promises. One thing’s for sure. However companies decide to move forward, their people must be at the heart of that journey. Without putting people first, the gains from the new digital economy would fall far short of their full potential.

Digital technologies and an evolving workforce together create an environment that’s challenging companies to take a strategic approach to aligning their people and technology. Automotive and Industrial companies looking to take their next steps in this evolution should consider the following actions:

• Appoint a C-level champion to lead a cross-functional team of technologists and business experts that will explore how automation can help reinvent new business models for the company

• Prepare the workforce to work e�ectively with intelligent automation. This means not only supporting their acquisition of new skills, but also addressing any fears and reservations they have about working with new robot ‘colleagues’

• Involve the workforce in designing and managing the change journey that intelligent automation requires, ensuring that they buy-into this journey from the start

• Assess existing organizational models to ensure they remain relevant in a world of intelligent automation

• Identify and prioritize parts of the business that are prime for platform business models (one suggestion is to start with payment platforms and supply-chain collaboration hubs)

• Identify areas of the business that are most vulnerable to attack by disruption from new platform-based business models (from incumbents and start-ups inside and outside the industry)

• Recognize the opportunities emerging from the IIoT and develop strategies to drive benefits leveraging capabilities that were not previously possible

• Meet industry experts to review trends and identify areas of future disruption for existing business models. Use these insights to evaluate opportunities for growth and evolution within the organization

• Consider carefully the security implications of connected devices, equipment and products, ensuring that security considerations are addressed upfront and extend ‘beyond the product’

14 Accenture Technology Vision for Industrial 2016

Next Steps

It’s clear from the Accenture Technology Vision 2016 that industrial and automotive companies have an enormous range of opportunities to seize from digital. These cut across every aspect of their operations – from workforce strategies to automation on the factory floor and from collaborative platforms to strategies for disruption. As we’ve shown, the expansion of digital also poses some big questions. How to address rapidly expanding cyber attack surfaces, for example. Or how to acquire the talent and organizational agility needed to increase the potential benefits that the platform economy promises. One thing’s for sure. However companies decide to move forward, their people must be at the heart of that journey. Without putting people first, the gains from the new digital economy would fall far short of their full potential.

Digital technologies and an evolving workforce together create an environment that’s challenging companies to take a strategic approach to aligning their people and technology. Automotive and Industrial companies looking to take their next steps in this evolution should consider the following actions:

Appoint a C-level champion to lead a cross-functional team of technologists and business experts that will explore how automation can help reinvent new business models for the company

intelligent automation. This means not only supporting their acquisition of new skills, but also addressing any fears and reservations they have about working with new robot ‘colleagues’

Involve the workforce in designing and managing the change journey that intelligent automation requires, ensuring that they buy-into this journey from the start

Assess existing organizational models to ensure they remain relevant in a world of intelligent automation

Identify and prioritize parts of the business that are prime for platform business models (one suggestion is to start with payment platforms and supply-chain collaboration hubs)

14 Accenture Technology Vision for Industrial 2016

Identify areas of the business that are most vulnerable to attack by disruption from new platform-based business models (from incumbents and start-ups inside and outside the industry)

Recognize the opportunities emerging from the IIoT and develop strategies to drive benefits leveraging capabilities that were not previously possible

Meet industry experts to review trends and identify areas of future disruption for existing business models. Use these insights to evaluate opportunities for growth and evolution within the organization

Consider carefully the security implications of connected devices, equipment and products, ensuring that security considerations are addressed upfront and extend ‘beyond the product’

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15

1 Industrial Internet Insights Report from GE - 2015

2 Germany Develops ‘Smart Factories’ to Keep an Edge - Marketwatch, October 27, 2014

3 Machine dreams: making the most of the Connected Industrial Workforce - Accenture Research, December 2015

4 Siemens to build open cloud platform for industrial customers – Siemens press release, March 2015

5 National Institute of Standards & Technology

6 SaNS Institute – IT security spending trends – February 2016

References:

The survey data presented in this report was taken from a larger global survey of 3,100 business and IT executives representing companies in 12 industries, including industrial equipment. More than three-quarters of respondents (78 percent) were C-suite o�cers, while roughly 21 percent were functional or business unit heads in 11 countries. In this report, we focus on the responses of 304 industrial equipment executives. They were asked to identify the technologies and most relevant trends from Accenture’s Technology Vision 2016 that they expect to have the greatest impact on their industry over the next three to five years.

How we carried out our survey

Accenture Technology Vision for Industrial 2016

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About Accenture

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions—underpinned by the world’s largest delivery network—Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 373,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

This document is produced by consultants at Accenture as general guidance. It is not intended to provide specific advice on your circumstances. If you require advice or further details on any matters referred to, please contact your Accenture representative.

Copyright © 2016 Accenture

All rights reserved.

Accenture, its logo, and High Performance Delivered are trademarks of Accenture.

Contacts:

For more information

Eric Schae�erGlobal Industrial Leaderic.schae�[email protected]

David MartynyGlobal Industrial Technology Consulting [email protected]

Join the conversation @AccentureInd