Digital Transformation Pulse: Connected Industry
The current state of digital transformation among three of Sweden’s leading export industries: manufacturing, mining and forestry.
Digitalization is crucial for Sweden’s industries
Swedish companies must make the necessary investments in digital competence and infrastructure now, or risk falling behind their international competitors. The fourth industrial revolution is happening right now, as the rapid emergence of new technologies changes the nature of industrial operations.
Together with Telia and Arthur D Little, we explore how three critical Swedish industries – manufacturing, mining and forest – are now addressing key priorities, including stagnating productivity and growing sustainability concerns and therefore must accelerate digitalization efforts sooner rather than later.
Smart innovation is needed in important sectors
Sweden has long been at the forefront of digital development – but other countries are quickly catching up. In the Swedish manufacturing, mining and forest sectors, three in four industry managers state that digital transformation is of high importance to their company’s strategic agenda.
To stay ahead of the competition, Swedish companies in manufacturing, mining and forest need a clear strategy for digitalizing their operations and must adopt emerging technologies like 5G, Cloud/Edge, data analytics, AI, and mobile interfaces – all critical technologies for successful digital transformation to occur.
Future-proofing industries for long-term growth
With Industry 4.0, Swedish manufacturers are aiming to leverage high-tech industrial innovation to increase productivity, flexibility and sustainability and build truly smart factories. For the mining industry, track and trace solutions are mapping personnel throughout the mines, both before and during emergencies, and are increasing traceability through the supply chain. Likewise in the forest sector, track and trace, remote monitoring and data analysis can help optimize transport flows and thereby reduce emissions.
Existential challenges can be tackled head-on
As a result of innovative digitalization efforts across all three of Sweden’s leading export industries, forward-thinking technologies and management solutions will be the bedrock of significant business growth potential over the coming years. Indeed, the fourth industrial revolution is already here, making digital transformation a key strategic imperative – so the time for action is now.
To this end, working with strategic partners to plan, build and manage digital infrastructure to meet these needs should be a strategic priority for executives at Swedish exporters.