Artificial Intelligence (AI) and robotics are no longer distant concepts but are fast becoming a reality. These new technologies will present a range of benefits for a number of industries, including those beyond the manufacturing sector where these are already being used.
Forward thinking companies are embracing the new technological revolution – Industry 4.0 – by adopting AI and robotics. Take the example of chatbots. Businesses are increasingly using AI to allow computers to understand and respond to queries from customers. At the same time, financial institutions are using automation to deal with increasing volumes of data.
And the adoption of new technologies is set to continue. As our recent report Cloud: opening up the road to Industry 4.0 found, 60 per cent of businesses already have or are planning to implement AI technology. To stay ahead in the fast moving digital era, it is crucial for businesses to have the right technology in place.
An integrated cloud service will not only provide businesses with a strong foundation, but also allow them to deliver innovative services to customers and grow faster than their competitors. Indeed, many companies are starting to realise the importance of an integrated cloud model with 63 per cent of our survey respondents saying it will be crucial for their future success.
With an integrated Cloud Platform and Compute Services, businesses can lead in the innovation arms race by developing and testing their applications faster than ever before. Successful products can be rolled out to market quickly, enabling companies to keep up with ever-changing customer demands. By testing new applications quickly, businesses can cut down on costs and focus their investments and resources on successful new applications.
It is only by integrating Cloud Platforms and Compute Services that businesses can take full advantage of the cloud and experiment with cutting-edge new services for their customers. Those who underestimate the power of integrated cloud however, risk staying behind; burdened with old legacy systems. As our study found, 60 per cent believe their rigid IT infrastructure is holding back their ability to innovate. But alongside embracing cloud technology, companies should also look at their approach to innovation. Industry 4.0 is more than bringing in new technologies but also promoting a culture of innovation and placing greater emphasis on new ideas.
With reports suggesting that 5.1 million jobs will be replaced by robots by 2020, businesses that embrace automation and new technologies will be able free up their resources to focus on developing cutting edge innovative ideas. More human capital and investment can be directed to R&D, sales, marketing and improving overall customer experiences.
Although some businesses are already seeing the benefits of cloud, how they integrate their PaaS and IaaS will differentiate them from the rest of the competition. As the race to innovate continues, companies wishing to stay ahead must have the confidence to bring Industry 4.0 from a concept to reality.
Andrew Sordam, Vice President EMEA, Oracle
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