In a previous post we asked ‘What is Productivity?’ and shared how the first wave of IT productivity related to cloud computing, customer relationship management (CRM) systems and enterprise resource planning (ERP) was only taken up by the top 5% frontier companies.
We explained how IoT, 4IR and AI machine learning will improve productivity but again, likely only for frontier companies. The difference this time is that the newer technologies will have more far reaching consequences. The frontier companies will further extend their reach over the laggards. The majority of the 5% are large companies with large budgets who are able to engage consultances such as IBM, Deloitte, Atos, PwC, WiPro, Accenture and KPMG. But what of the small to medium enterprises (SMEs)? Can they compete?
In most countries, a large proportion of companies are small to medium size. For example, in the UK, the Office for National Statistics says 98.6% of manufacturers are (SMEs). These organisations are more price sensitive and usually don’t have the luxury of significant financial resources for engaging the top consultancies and implementing their expensive solutions. Small and medium sized organisations have previously found it difficult to digitise due to the lack of availability of reasonably priced solutions.
However, solutions doesn’t have to be expensive. Low cost sensors such as Bluetoooth beacons, motion cameras, consumer AR can be combined with affordable cloud services to create solutions on a ‘shoestring’ budget. This is the aim of the University of Cambridge and University of Nottingham’s ‘Digital Manufacturing on a Shoestring’ initiative. The Institute for Manufacturing (IfM) is helping manufacturers benefit from digitalisation without excessive cost and risk. View the project’s latest news and communicate with them via Twitter.