Effective collaboration helps power innovation
By enhancing teamwork at the workplace, businesses can benefit from a diversity of inputs, become more agile and open up communications within the firm.
SOUTH-EAST Asia is in the midst of a massive technological transformation for manufacturing. According to McKinsey & Company, the region stands to attain up to US$627 billion worth of productivity gains from Industry 4.0 technologies.
Data, connectivity, availability of computing power as well as advanced human-machine interfaces and production methods are changing the way entire industries operate. Capabilities such as automation can help transition workers to more value-adding tasks while advanced inspection will improve processes at production sites.
Digital transformation will further accelerate these developments. In 2017, about 6 per cent of the Asia-Pacific's GDP came from digital products and services created by digital technologies, such as mobility, cloud, Internet of Things (IoT) and Artificial Intelligence (AI). This is expected to grow to around 60 per cent by 2021.
Copyright SPH Media. All rights reserved.
