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This article first appeared on the Harvard Business Review blog. He sold off slower-growth, low-tech, and nonindustrial businesses — financial services, media, entertainment, plastics, and appliances. GE’s gross margin was 21% last year, compared with 28% at United Technologies and 30% at Siemens. of the company.
Many mature industries are experiencing significant technological disruption. Leaders in every industry are no doubt keeping a vigilant eye on such developments, yet one very important aspect of this disruption has been largely overlooked: technology fundamentally changes what makes your brand premium. JEWEL SAMAD/Staff/Getty Images.
He sold off slower-growth, low-tech, and nonindustrial businesses — financial services, media, entertainment, plastics, and appliances. GE made a $4 billion bet on connecting industrial equipment through the internet of things and analytical software with a suite of products called Predix Cloud. of the company.
Digital transformation—or the way of thinking about this change—refers to the use of technology to improve the reach and performances of enterprises. The technology is sophisticated enough now that the possibilities seem almost limitless. They are signs of profound change. It’s not limited to private enterprise.
Every enterprise will be affected by the Internet of Things (IoT), the growing phenomenon by which not only people, but also "things" — vehicles, commercial and industrial equipment, medical devices, remote sensors in natural environments — are linked to networks that are connected to the internet.
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