The industrial world has boarded the train of an exciting technological journey that promises to bring massive economic value through IoT-driven connected systems. Industry experts predict that by 2030, the economic value generated by IoT could be anywhere from $5.5 trillion to $12.6 trillion. This value potential is concentrated in specific sectors, including manufacturing, retail, healthcare and transportation. By 2030, smart factories in the manufacturing domain are expected to generate the most significant opportunity for economic value creation from IoT, with a potential of nearly 26% ($1.4 billion to $3.32 billion).

Acquiring the economic and societal value of connected systems

Companies leading the charge in smart manufacturing are already acquiring the economic benefits of connected systems supported by the fourth industrial revolution, also known as Industry 4.0 (I4.0) technologies, throughout the manufacturing value chain. These systems not only optimize production efficiency, costs and machine uptime but also improve customer service and delivery lead times. For instance, a leading Switzerland-based manufacturer had a 75% increase in machine uptime and 50% improvement in revenues by leveraging HCLTech's connected solution powered by I4.0 technologies.

Apart from these tangible benefits, connected systems have a far-reaching impact on worker and societal wellbeing. Connected systems help improve employee productivity and workplace safety while reducing environmental impact by automating and streamlining manufacturing processes and reducing production waste.

While the potential economic and societal value of connected systems is huge, many manufacturers find it difficult to capture this value at scale and unlock meaningful returns. Simply put, they cannot scale their industrial IoT initiatives beyond pilot stages due to various business- and technology-related challenges.

This is where Industry NeXT comes in, a revolutionary business transformation framework from HCLTech, empowering manufacturing companies to move past the pilot purgatory stage and unlock the full potential of connected systems.

Before we dig deep into Industry NeXT and its potential benefits, let's discuss some common challenges impeding businesses from harnessing the true value of connected systems:

• Business adoption: Establishing a clear vision and implementation plan, along with operating model transformation, is vital for companies to adopt connected systems faster. Despite this, many companies dive into IoT initiatives without changing their business processes, job roles and cultures or simply engaging with workers and managers on the ground, leading to bad outcomes.
• Interoperability: It is still common in factory environments to include proprietary systems from different manufacturers, all of which have their own communication standards and data formats. Connecting these proprietary systems, legacy devices, IoT sensors and various data architectures is a difficult task for manufacturers. The transformative power of ready integration solutions from Industry NeXT by HCLTech is useful.
• Installation: Manufacturers often need customization while deploying IoT-driven smart products based on unique circumstances in their factories. As a result, IoT deployments usually require additional time, cost and effort. The lack of interoperability or standard IoT operating system also escalates installation issues. Industry NeXT by HCLTech uses a differentiated operating model to handle the challenges of unique site needs during I4.0 transformations across factory networks. For instance, one strategy of Industry NeXT is to create an innovation team that works separately with various stakeholders at individual factory sites to cater to their unique requirements and promote reusability as a core. Large-scale implementation may adopt a digital factory approach to repeatedly produce desired functionality with a separate team of agile squads.
• Cybersecurity: A smart factory concept increases the number of connected endpoints, resulting in a much broader attack surface for malicious players to exploit. Companies should embed security into all layers of their IoT ecosystems to prevent cyberattacks. With HCLTech’s 360° SecureOT framework, security is viewed as a comprehensive topic from strategy to design to implementation. The framework is based on various industry-accepted cybersecurity guidelines and standards and bolsters security across assets, people, technology and processes.
• Talent management: The IoT skill gap and talent shortage hinder businesses from realizing the full benefits of connected factories. Manufacturers should organize employee training and reskilling programs as well as hire skilled professionals. HCLTech not only has cross-train resources as a part of our “unlock value” offering under Industry NeXT, but utilizes mixed reality-based technology to create training content to reduce costs and promote self-service on demand.

Harness the full potential of connected systems with Industry NeXT

Industry NeXT by HCLTech leverages next-generation technologies, such as a fully integrated digital thread, to help companies form a connected ecosystem and become more agile, resilient, sustainable and future-ready. This transformational framework offers the necessary tools that help manufacturers optimize their production efficiency, reduce costs, minimize waste and enhance workplace safety.

Whether a company wants to start or expand their I4.0 initiatives, Industry NeXT is a one-stop solution for connected business transformation. It helps manufacturers unlock the full potential of connected systems by offering the following capabilities:

• Set a detailed implementation roadmap: Industry NeXT by HCLTech offers manufacturers essential tools, guidance and support to establish a clear vision and phase-wise road map to adopt connected products at scale and speed. With Industry NeXT, manufacturers can confidently navigate the complexities of change management during the I4.0 transformation.
• Build a ubiquitous IoT platform: Instead of fragmented purchasing of IoT solutions, Industry NeXT encourages businesses to adopt a platform-centric approach during connected business transformation to resolve interoperability and installation issues. It helps manufacturers build a standard IoT operating system, platform or data architecture to deploy connected solutions at scale across their factory network for different use cases, such as predictive maintenance and asset performance tracking.
• Adopt a comprehensive cybersecurity strategy: Industry NeXT framework takes cybersecurity to the next level in smart factory environments. It provides necessary technical tools that enable manufacturers to adopt a defense-in-depth cybersecurity strategy and perform continuous risk assessment across their IT and OT environments to neutralize the threat of cyberattacks.
• Maximize worker wellbeing and safety: Industry NeXT enables manufacturers to create a safer, immersive, collaborative work environment in factories through smart workplace solutions like wearable devices and autonomous robots.
• Run sustainable operations: Manufacturers can reduce their energy usage, emissions and product waste through HCLTech’s Industry NeXT solutions, like Net Zero Intelligent Operations (NIO) supported under our SERENE framework.

The path ahead

Smart factories and connected systems are well-poised to shape the future of manufacturing. Despite challenges like change management, interoperability, talent shortage and cybersecurity concerns, Industry NeXT by HCLTech offers a game-changing solution that empowers manufacturers to leverage the full capabilities of connected systems. With Industry NeXT, businesses have a unique opportunity to lead the industrial revolution by building cognitive ecosystems, adopting sustainable practices, promoting worker well-being and running resilient operations. This exciting future is within reach with the transformative power of Industry NeXT. Let's embrace the possibilities and create a brighter future for all.

To learn more about Industry NeXT by HCLTech, please visit our website or write to us at iotworks@hcltech.com.