WE ARE in the midst of the Fourth Industrial Revolution where industries are being transformed by emerging technologies that are bridging the physical, digital and biological domains.

So far, the focus of industry digitisation has been on the improvement of front- and back-office operations - areas such as marketing, sales, planning, procurement, finance, human resources and information technology. But this focus is shifting. And that is because digital technology is not only changing how companies make things; it also changes the very "things" themselves.

The Internet of Things (IOT), sensors, edge computing and the cloud have enabled engineers to embed compute power, connectivity and software into almost any kind of hardware product. This, in turn, allows for the emergence of hyper-personalised product experiences and as-a-service offerings, all drawing on digital technologies.