New business models that are only possible through digitization are becoming increasingly disruptive. This presents companies with the challenge of constantly reviewing and adapting their existing business models in the market, or even breaking new ground.
News on Industry 4.0
The use case “Product as a service” is conceived as a practice-oriented supplement to the Austrian Standardization Compass Industry 4.0 and illustrates the benefits of standards in the development and implementation of innovative business models.
Voices on Industry 4.0
"Industry 4.0 is a valuable "projection surface for innovation": the combination of new ideas with a higher technology gives great potential, especially the digital networking of development with production and in-use phase offers new possibilities for creativity and efficiency. This leads to even better products: e.g. AVL test stands, that monitor themselves and communicate when maintenance has to take place, or even autonomously detect, if an attempt has to be stopped early due to unsatisfactory results ... exciting possibilities!"
"Austria has a very high degree of industrialization, thus Industry 4.0 is an essential building block for the further development of industrial processes. In a study by the European Commission, Austria is described as a "frontrunner" on this subject. Besides Germany, Sweden and Ireland we have the industry's largest potential for implementation in terms of intelligent production processes, automation and value-added potential - this opportunity must be exploited. While working with our customers we are constantly discovering new ways of how well-established processes can be made even more efficient. A wide range of specialized skills is required to actually cover the customer's process chain End2End . In addition to our own know-how and many years of experience in the industrial sector, we are also gaining these from new investments in research facilities and start-ups such as evolaris next level."
"Industry 4.0 is a huge challenge, with digitalization penetrating all areas of life, changing production and work processes in particular. However, it drives innovation in the service sector and opens up completely new business segments and markets. Companies of all sizes and from every industry will have to deal with it as quickly as possible if they want to remain competitive in the future. The Upper Austrian Research affiliates have been working on high-tech solutions for the industry for decades, while digitizing and networking the company's processes, flexibility and a high degree of automation are at the forefront."
"We need to ensure that there are intelligent regulations for digital work. Along with politicians and employers who, like us, see that the digital revolution cannot be left to self-sufficiency. Only then we can ensure that Austria and Europe remain a location for industrial production with high social and environmental standards. So, if the industry should not bring about massive unemployment and further precariousness, we need a policy agenda for employment in the digital upheaval."
"The Internet of Things will massively change our life and work environment, and information and communication technologies will heave the industry to a new era. Virtualization - the merging of physical and virtual worlds - and intelligent networking enable further flexibility of processes and thus the strengthening of competitiveness of the Austrian industry. Salzburg Research is researching how knowledge-based systems, data management, sensor technology and the internet can be combined for innovative products and services."
"The electrical and electronics industry is one of the most research-intensive and dynamic industries and thus the impetus for the Austrian industry. Innovations, for example in the area of information and communication technologies, make them the key industry for digitized production. The Association for the Electrical and Electronics Industries (FEEI)was therefore the initiator and driving force of the platform, with the aim of setting the course for a successful future of the production and research location Austria."
"Nearly every industry can benefit from Big Data - as long as this data provides consistent information about business management. Thanks to the Watson IoT program from IBM that supports the digital transformation with sensors, central data storage and analysis platform in Europe, the realization of Industry 4.0 in the German-speaking world is getting new possibilities. From ahead-looking maintenance in the manufacturing industry, through quality control in the logistics to the product life cycle in all plant and energy-intensive business areas, the processes with IoT platforms can be standardized and made transparent - both horizontally and vertically."
"We want to actively shape the change! Industry 4.0 as the future of industrial value creation and employment entails many opportunities but also challenges. In addition to an increase in the volume of investment and the research and development expenditures of companies and the state, an education and training campaign is needed, as well as more vocational training. So that everyone - the employees and the companies - profit from the change and new growth opportunities. Humans and the quality of work must continue to be at the center of all considerations. That is why we are demanding active corporate and inter-company co-determination. "
"Without Industry 4.0, production will not remain in Europe. It is a great opportunity to no longer compete internationally exclusively through location costs, but to gain decisive competitive advantages with know-how and increased resource efficiency. Especially for the electrical and electronics industry as a provider of key technologies and solutions, digitization of production means tremendous opportunities for added value and innovation.”