McKinsey Global Institute
Driving reliability and improving maintenance outcomes with machine learning
There is a significant need to carry out failure prevention using data-driven truths rather than guesstimates. The combination of mechanical and process induced breakdowns costs up to 10% of a worldwide $1.4 trillion manufacturing market per a 2012 report from The McKinsey Global Institute.
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Manufacturing moves from tech silos to synchronised factories to demand-driven factory of the future
Production has stopped and no one is scurrying around to take care of the flashing red lights. An event that at one time would have caused serious downtime is now only a blip, thanks to the evolution of manufacturing technology.
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The fear of the ‘Thing’ in ‘Internet of…’
According to the McKinsey Global Institute, the Internet of Things (IoT) will have a potential economic impact of $3.9 (£2.8) to $11.1 (£7.7) trillion in 2025, which will amount to approximately 11% of the world economy.
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Rise of the Internet of Things stretches demand for specialist IT contractors
Professional services consultancy Procorre is warning of a shortfall in the number of IT consultants available across Europe to advise on projects relating to rise of the Internet of Things (IoT).
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