Dr Tero Hottinen is working with emerging digital business and strategy development within Cargotec Plc. central digital team.
Everybody should understand and get the mindset that every company needs to become digital in a way or another, otherwise, you will lose the game.
In traditional manufacturing industries, the digitalization is very much still taken on the internal processes, like document handling and warehouse logistics, kind of enhancing your own operations to be more agile.
I would like to say to those who are still thinking what to make digital, that is a must, you need to be leaner and more efficient in internal processes, but don’t rely on that it would make a difference because it will become a commodity. You need to focus on how to add new service models or digital layers on top of your existing business – how to serve your customer better.
The next big wave – If you don’t understand and be capable to utilize machine learning and artificial intelligence, you will lose the game. It’s absolutely a must. It’s not a new trend but it’s something you have to live with.
See also what Mårten Mickos had to say about the world eating the software.