The Global Startup Ecosystem Report 2018 predicts that “…the prominent technologies of the future will live in the “real world.” They will transform not only what we do on the web, but also what we do outside of it, and sectors affected will include transportation, healthcare, heavy manufacturing, agriculture, and many more real-world industries”.
If this prediction is correct, it would mean that the impact of these technologies (and hence the Fourth Industrial Revolution) will change the way we live, work and play. It will render invalid existing products and usher in new ones. Business models, and yes, even fundamental business assumptions, may have to be reassessed. Here are some data points from the Global Startup Ecosystem Report 2018:
The Fourth Industrial Revolution is upon us.
With technology advancing at breakneck speed, the competitive landscape has been significantly flattened. Funding and resources are flowing to where the ideas and talents are. Think HAX, the world’s largest hardware accelerator in Shenzhen. Where does that leave Singapore companies, especially the SMEs?
At ATE’s Innovation Day 2019, this was the premise of our discussion and sharing. The event aimed to draw attention to the changing technology and competitive landscape, challenging Singapore companies to formulate their response in order to remain relevant and competitive.
The rapid adoption of technologies has levelled the competitive playing field, resulting in startups like Xaircraft, Nio, and many more around the world revolutionizing their industries. In many of these successful startups, one of their critical success factors we see is in their application of Industry 4.0 technology onto deep domain or business challenges. Once they are able to resolve these industry-domain challenges, the result is DISRUPTION.
Case in point is Xaircraft – an agricultural drone company that developed state-of-the-art Agri-UAV to perform a comprehensive suite of plant protection services, including precision spraying. These drones can fly autonomously as individual aircrafts or as a fleet, intelligently recognizing crop-type, and applying their chemical sprays with high-precision. This means larger area covered, optimized application of chemicals (no wastage) at exactly when and where they are needed. The result? A revolution in the agriculture industry.
How Can Singapore Companies Compete? 4 Winning Strategies
Integrated Product Design
Simulation Driven Design
For more info on these, please visit our post: Enabler for an Integrated Product Lifecycle
But technology is only as effective as the people who apply them. Hence we advocate Apply and Adapt – Apply the technology you have to a small and manageable scope in your business, and Adapt it through iterations to find the best fit. To help our audience understand how and where to apply these technologies, we were fortunate to have Ben Ong, Senior Lead in Advanced Manufacturing from EDB, to explain the Singapore Smart Industry Readiness Index (SSIRI). This framework provides us a holistic yet easy-to-apply framework for any business.
Ecosystem – Winning Together
The True Power of A Revolution
If this is a great idea, why not spread it? That’s the question we ask our clients and partners. Good news must be shared. So must great ideas. The Industry 4.0 revolution cannot be contained. We’ve seen how it has exploded in markets such as China, Korea and Japan and Europe. How did they do it? By getting the entire supply chain to join in the revolution. The true power of the revolution can be unleashed when your material suppliers, logistics service providers, equipment makers, sub-contractors, all make the transformation together.
Great ideas need to be communicated clearly and efficiently for them to be materialized. When your entire supply chain operates out of a seamless, secure and common digital platform, and can be communicated via a common visualization tool such as a 3D model, they free your engineers to be creative and to focus on the solution rather than the problem. Couple it with tools such as Simulation Systems and Additive Manufacturing, great ideas can be fine-tuned, improved and materialized even faster.
Right Now Counts Forever
Wong Keat Tze