Industry 4.0 or Society 5.0?

Are you Innovating for Industry 4.0 or Society 5.0?

There is a lot of buzz around “Industry 4.0”; ever since Germans coined that term a few years ago.

However, Japanese have gone a step further with the concept of “Society 5.0” providing a broader objective to technologies and outcome of Industry 4.0.

For those new to the terms: Industry 4.0 is a confluence of trends and technologies that promise to reshape the way things are made. It is fueled by connectivity and spans a little more than Cyber-physical systems, the Internet of things, Virtual reality, Machine learning, Big data, Cloud computing, … etc. Society 5.0 is a human-centered society that balances economic advancement with the resolution of social problems by a system that highly integrates cyberspace and physical space; such as smart homes, wearables, autonomous mobility, digital assistants, smart/renewable energy, etc. I encourage you to search for these terms in Google images. These two will go hand in hand for the next decade, feeding into each other.

We researched the content from thought leaders and global trends, and discovered that our Innovation Framework, which has been evolving over the past 5 years, is very well positioned to address most company needs to thrive through the fourth revolution.  Consequently, we added many new tools and practices to specifically address this aspect of physical-digital-physical connectivity. It is now available for application as our 2019 version of the Innovation Framework, with a purpose – Industry 4.0 and Society 5.0.

Preparedness for Industry 4.0 and Society 5.0

Your profile for industry 4.0 is determined based on the level of claims you can make:

* Aware: We know the 9+ key technologies and 4 principles of Industry 4.0.  understand its impact to our business and also have some idea on how to use it for our growth. We are aware. We are not yet prepared to address the change.

Agile Follower: We know which technology to adopt when, and we will be able to do it as soon as our customers are ready for it. We have the necessary skill set to follow the industry leaders, in time, without sweating out of business.

 Smart Forecaster: We understand the opportunity for us to enhance our customer’s experience. We have embarked on adaption of some of the relevant technologies to create value proposition in anticipation of customer demand. Our leadership team can see the near future, and invest wisely. Our organization has a dependable and proven innovation process.

Visionary Trendsetter: We are pushing the boundaries in some of the top 9 technologies and educating our customers through enhanced experience.  We understand the risk in creating customer demand. Our organization has the exploratory mindset. We get it and intend to lead the consumers in this.

Robust and Resilient: We have the 3 things required to be robust and resilient as the fourth revolution unfolds. We can handle disruptions. We are already an influence to Society 5.0

Preparing for Industry 4.0 and Society 5.0

To move from one profile to another, you need to progressively create a strategic road-map, and systematically build the expertise to create offerings suited for the fourth revolution. The +4π Innovation Framework is a proven set of best practices, structured to help business strengthen the culture of innovation to grow through the next industrial and social revolution.

Innovation Strategy: Defines what products, services and cyber-physical integration should a company develop with timeline to survive and thrive over the next few years. Set of tools progressively add rigor to the strategy through an in-depth evaluation of impact and opportunities in Industry 4.0 and eventually Society 5.0. Some people have stared discussing Industry 5.0. Let us leave that for a future date.

Innovation Capital: Defines what Skills, Need for Knowledge, and Assets required and when, to support the Innovation Strategy. Set of tools guide industry 4.0 mindset, skills, leadership, organization, and networking, which is different than what is currently practiced for most successful businesses.

Innovative Activity: Defines the process to systematically and rapidly go from ideation to monetization. The desired speed of innovation demands increased focus on hackathons, burst innovation events, sustained open innovation, and business model redefinition.

Lean Innovation: Aligns products, processes, employees, customers, and business metrics, to continuously improve the efficiency and productivity of the enterprise. This set of tools guide the employee morale and customer engagement from management objectives, providing synergy benefits making the whole greater than sum of individual pieces.

Value from Synergy: A significant value contributed by the framework comes from sequence, dependence, and integration; where tools use a common set of parameters and indicators across the enterprise. This enables employees to break through the silos and ceilings, holding the company growth.

Feel free to ask us, how this can change the face of your business and leave a lasting impression on society, if not humanity.

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