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4IR: The 4th Industrial Revolution

Are you ready for the 4th Industrial Revolution?

Companies are tapping in to converging technologies to accelerate business growth and keep from getting left behind.

What is the 4IR?

The 4th Industrial Revolution (4IR) brings with it technologies such as artificial intelligence, augmented reality, robotics, and 3D printing. These advancements are quickly altering the way that people and companies create, interact, exchange, and distribute value.

Such epic shifts in technology will profoundly influence all aspects of humanity, across institutions, individuals, and industries. Companies are forced to digitally transform their sales and manufacturing processes with the help of these smart, immersive, and immediate technologies.

4IR investments continue to rise after totaling $646 billion from 2012-2018 [1].

[1] https://www.pwc.com/us/en/library/4ir-ready.html

Learn how KBMax helps companies transform for 4IR.

An impact of 4IR: Customers are demanding more.

Customers today are expecting the same experience regardless of whether it is a B2C or B2B transaction. 80% of customers surveyed by Salesforce Research say that the experience a company provides is as important as its products and services. Everyone wants answers now – reflected in past, personal experiences with the company.

“75% of customers expect companies to use new technologies to create better experiences.”

– State of the Connected Customer Report, Third Edition | Salesforce Research

Manufacturers are digitally transforming.

Manufacturers represent 16% of global gross domestic product (GDP), while accounting for 64% of global spend on research and development [3]. Product companies are investing in optimizations for their production systems, increasing their operations’ productivity and quality performance.

The way that manufacturers quote, sell, design, and produce goods has fundamentally changed.

Companies are expanding their competitive advantage by attacking operational inefficiencies and automating anywhere that they can.

[3] http://www3.weforum.org/docs/WEF_4IR_Beacons_of_Technology_and_Innovation_in_Manufacturing_report_2019.pdf

There will be winners and losers.

These digital and organizational transformations towards a 4IR future may seem impossible or out of reach to many companies, but the risk and cost of not transforming are greater.

Companies that modernize, flourish.

“We already see developments that will change the manufacturing industry through 2023 — for example, uniform physical goods that are transformed into unique digital items through the use of information technology — so the time to act is now.”

4IR

Pete Bailiere, Vice President Analyst at Gartner

Those that don’t evolve are at risk.

“Organisations that get too comfortable with the status quo are at major risk of disruption…If you’re not asking questions about how your organisation is navigating and plugging into disruption, forming new ecosystems, and tapping into open markets, then your organisation is at risk.”

Fourth Industrial Revolution in Manufacturing

Andrew Yaz, Global Chief Innovation Officer at Deloitte

Featured Resource

Overcoming the Complexity of the Sales to Manufacturing Process

Product variation compounded by the complexity of multiple pricing models can create confusion and inefficiency among your organization’s engineering, manufacturing, and sales teams. In this four-part guide, we’ll uncover how to address challenges like these in your sales to manufacturing processes by using CPQ software.

Get the eBook
sales to manufacturing process

Accelerate sales, engineering, and manufacturing with KBMax.

The way to gain your first win in the 4th Industrial Revolution is to deliver an awesome buying experience and simplify manufacturing with easy-to-use CPQ software powered by KBMax.

“This complete digital transformation changed our
37-year-old company forever.”

Steve Stessman
Vice President of National Retail Sales

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Start your digital transformation today.