Innovation Day 2017: Data is the New Currency

Tuesday, March 21, 2017 10:00 am EDT

By:

Raj Batra, President, Siemens Digital Factory Division, U.S.

Innovation Day USA: Driving innovation for the U.S. and the world

Every day, billions of connected devices and machines are bridging more of our real and virtual worlds and changing the way we live, travel, build and work. Join us virtually March 27th to learn how Siemens latest innovations are helping industries from manufacturing to transportation embrace the power of data and lead in a digital and connected world. Hear from global and U.S. technology experts via virtual and interactive demos and discussions on emerging trends and technologies like: Blockchain-Based Microgrids, Additive Manufacturing, Artificial Intelligence, Autonomous Robots, Digital Infrastructure, MindSphere – The cloud-based, open IoT operating system from Siemens. Innovation is in Siemens DNA, growing from one idea 170 years ago into a robust digitalization portfolio with a unique combination of software, digital services and MindSphere unmatched across its competitors. And the U.S. plays an integral role—in the last 15 years, Siemens has invested $35B in America, invests $1B annually in R&D, holds 15,000 U.S. patents and nearly 900 invention disclosures, and employs around 50,000 people with approximately 60 manufacturing sites. Take part in the conversation #SiemensInnovations.

Editor’s Note: In the coming days, we will highlight some of Siemens’ innovations and technologies that have benefited industries and society as a whole in the U.S.

Of all the misfortunes that can befall manufacturers—cost overruns, below-target output, a high defect rate—nothing compares to the impact, both in dollars and reputation, of a delayed product launch. Fortunately, the typical factory can turn the page on the era of “time-to-volume” and “time-to-profit” charts—provided there is a willingness to modernize the factory itself.

The digital age of manufacturing is here, and it’s not too late for industry to embrace this concept.  Data is the new currency, and our ability to collect, measure and analyze the right information in real-time is driving new levels of uptime, productivity, efficiency and flexibility.  Combine these benefits and the net result is the ability to innovate faster.  All companies desire to be first to market, and software is the tool that provides this competitive advantage. 

Over time, the total digital representation of the physical value chain is where this is headed.  Product and processes are no longer static – both taking on a digital form through simulation and virtual reality. You now have complete integration of data from development through production, internally and with your suppliers, and capable of being shared on a Cloud platform like Siemens MindSphere.

By embracing technologies across the digital enterprise a plant gains the ability to innovate its products midstream and on the fly. When the process is digitized, everything can be simulated, modeled and put through variations. These simulations will determine not just what screw gets procured, but how the screw gets turned. You’ll even have access to data as to whether you need the screw at all.

Surrounded by advanced robotics and automation, leveraging customization software and exploring Cloud offerings for operational transparency, a new, tech-savvy generation of factory workers will be doing it all in a post-industrial atmosphere that’s quiet, clean and bent on innovation. As U.S. plants continue to invest in modernization, these workers will one day be able to say they helped bring about the rise of the digital factory.

From the factory floor to the Cloud, innovation is part of our DNA at Siemens.

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