ABB has released the findings of a new global study of international business and technology leaders on industrial transformation. The study, “Billions of better decisions: industrial transformation’s new imperative,” examines the current take-up of the Industrial Internet of Things (IoT) and its potential for improving energy efficiency, lowering greenhouse gas emissions and driving change. The goal of the new ABB research is to spur discussion within the industry regarding opportunities to leverage the Industrial IoT and empower companies and workers to make better decisions that can benefit both sustainability and the bottom line.
Key learnings from the study: 71% reported greater priority given to sustainability objectives; 72% said they are “somewhat” or “significantly” increasing spending on Industrial IoT due to sustainability; 94% agreed the Industrial IoT “enables better decisions, improving overall sustainability”; and 57% indicated the Industrial IoT has had a “significant positive effect” on operational decision-making.
With 63% of executives surveyed strongly agreeing that sustainability is good for their company’s bottom line, and 58% also strongly agreeing it delivers immediate business value, it’s clear that sustainability and traditional priorities of Industry 4.0 efforts are increasingly intertwined, opening up win-win scenarios for companies looking to drive efficiency and productivity.
