For the past three decades, the telecommunications, media and technology (TMT) industries have been at the center of the revolution in how consumers and businesses react, interact and transact with each other and the world. The models of society, work and value creation developed post-World War II and prevalent through the Third Industrial Revolution, are being challenged and replaced by the new models brought forth by the Fourth Industrial Revolution.
In Industry 4.0, traditional manufacturing and industrial practices are being automated. The network replaces the hierarchy, decentralization and autonomy replace centralization and agility and information replaces process and materiel as the source of value creation. As the pace of change only accelerates in this new age, businesses and consumers are both adapting. The introduction of new technologies, the lasting impact of the global pandemic and the change in the dynamics between brands and customers are forcing the companies that make up the TMT industries to seek new ways to create value and attract and retain customers.
Following are 11 trends that TMT organizations need to be focused on not just to reach the full potential of Industry 4.0 but to constantly be prepared for what comes next.