To present a digital journey that goes beyond, around or straight-over Industry 4.0, Accenture adopted metrics and formulae, developed in conjunction with the World Economic Forum. The resultant methodology is able to assess the value of digital transformation — societally and industrially. The methodology is called “Industry X.0“, presenting a road-map for the digital reinvention of an industry wherever businesses incorporate advanced technologies across their entire operations.
According to Ben Salama, Managing Director at Accenture Digital: “Most construction companies we work with recognize that digital technologies can drive transformation and growth, but many aren’t yet realizing this potential.” He adds further, in relation to the study: “This research quantifies the potential prize for industry, individuals and society if they get this right.”
Accenture’s Industry X.0 solution takes the form of an action plan designed to enable companies to profit from technological advances. Success requires a company to go a stage beyond simply transforming into digital businesses, as Accenture state: “digitally enabled companies go beyond the fourth industrial revolution, by developing smart products, connected services and as-a-Service business models”. Beyond this, companies must consider how to reinvent operating models, production and value chains.
An example of where Industry X.0 is possible in terms of the near future, according to Accenture, is construction. Developments in the construction field are discussed in the Digital Journal article “Digital technologies could unlock billions for construction“; with some specific examples of the challenges that building services face considered in the associated article “Why many construction companies have not transitioned to digital.”
