{"id":845,"date":"2024-07-05T11:52:22","date_gmt":"2024-07-05T11:52:22","guid":{"rendered":"https:\/\/hiber.global\/?p=845"},"modified":"2026-02-16T10:38:08","modified_gmt":"2026-02-16T08:38:08","slug":"digital-technology-should-make-life-easier-not-more-complicated","status":"publish","type":"post","link":"https:\/\/hiber.global\/digital-technology-should-make-life-easier-not-more-complicated\/","title":{"rendered":"Digital Technology Should Make Life Easier, Not More Complicated."},"content":{"rendered":"\n

It\u2019s no secret that we\u2019re living in one of the most exciting periods of human history.<\/p>\n\n\n\n

Built on the shoulders of the Third Industrial Revolution (which began in the 1960s with the invention of electronic and IT systems), the Fourth Industrial Revolution (4IR) began in the 1990s when the Internet opened up to the entire world.<\/p>\n\n\n\n

Some of the biggest drivers of the Fourth Industrial Revolution include artificial intelligence, machine learning, robotisation, automation, and the Internet of Things (IoT). This looks like interconnected devices (of which there are already 7 billion<\/a>), automated and electric vehicles, biological breakthroughs, and more.<\/p>\n\n\n\n

The Fourth Industrial Revolution will continue to blur the lines between what is digital, physical, and even biological\u2014and the implications of this advancement are going to be enormous<\/a>.<\/p>\n\n\n\n

The political gap between countries that embrace the technologies of the Fourth Industrial Revolution will continue to grow. And so is the gap between companies that make smart investments. The businesses that invest in 4IR technologies\u2014traditionally larger firms with a digital-first mindset\u2014are zooming<\/a> past competitors who can\u2019t change fast enough. <\/p>\n\n\n\n

If industries want to survive, the time has come to play catch up.<\/p>\n\n\n\n

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The pain of embracing change<\/h2>\n\n\n\n

There are a few reasons digital transformation has stalled. In fact, Gartner<\/a> identified six key barriers. One of the biggest roadblocks? A company\u2019s mindset. Digitisation requires tremendous investments of time, energy, and money. \u201cDigitisation\u201d is also an obscure goal, and the return on investment isn\u2019t always obvious. Unlike \u201cincrease revenue by 10%\u201d or \u201cimprove operational efficiency by 5%\u201d, \u201cembrace digitisation\u201d doesn\u2019t have a measurable way to prove success.<\/p>\n\n\n\n

There are also practical reasons it\u2019s hard to embrace a digital transformation. To start, GSM and mobile networks only cover 10% of the world, making it difficult for companies in remote areas to even connect to the Internet, let alone make efficiency improvements with interconnected devices. Then there are the devices themselves, which are often produced by different companies and which don\u2019t operate with each other. As you build, you need to find four or five companies that can work together, which can ultimately be a technical nightmare.<\/p>\n\n\n\n

Finally, for many companies there hasn\u2019t been a \u201cpressure\u201d to digitise (that is, until a global pandemic forced the world to go digital overnight<\/a>). Because of the complications of building digital solutions, the benefits of digitisation haven\u2019t stood out against the necessary investment. These factors, combined with the fact that there\u2019s no deadline for transformation, mean that 4IR implementation often gets shoved to the side as a project companies will tackle \u201csomeday.\u201d <\/p>\n\n\n\n

\u201cMcKinsey\u00a0estimates that connective technology has the power to add as much as $250 billion of value to the oil and gas industry by 2030 alone. Of that sum, as much as $180 billion could be realised with existing infrastructure, even in remote areas.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n

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What is the Global Lighthouse Network, and why is it important to the Fourth Industrial Revolution?<\/h2>\n\n\n\n

Despite the challenges to adoption, the Fourth Industrial Revolution is on its way. And because the implications of this industrial revolution are so massive (and the global need for a sustainable<\/a> economic revolution), the World Economic Forum saw a need to encourage innovation across all industries. The Forum\u2019s solution was a special distinction called the Global Lighthouse Network (GLN).<\/p>\n\n\n\n

The Global Lighthouse Network is a growing selection of 54 companies<\/a> who have leveraged 4IR technologies successfully and seen massive improvements in productivity, sustainability, and agility. These companies are not just leaders in their respective industries\u2014they are true powerhouses that are pushing the boundaries of what\u2019s possible with technology today.<\/p>\n\n\n\n

Look at Henkel<\/a>, a chemical and consumer goods company based in D\u00fcsseldorf that has over 30 manufacturing sites and 10 distribution centres. To improve overall operational efficiency and hit its goal of being \u201cclimate positive,\u201d Henkel built a data platform that connects all of its locations worldwide to a single ecosystem in real time. In 2019 that single source of truth let 6,500 employees gather insights on roughly 3,500 sensors that measure electricity, fossil fuel, water, compressed air, and steam consumption.<\/p>\n\n\n\n

The results? Henkel lowered its energy consumption by 38%, and water consumption by 28%. Henkel also decreased logistics and processing costs by 12% and 10%, respectively, while improving operational efficiency by 30% and forecasting accuracy by 20%.<\/p>\n\n\n\n

And that\u2019s just one of many success stories<\/a>. <\/p>\n\n\n\n

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What makes the Lighthouses different<\/h3>\n\n\n\n

What makes the Lighthouses stand out is the way these companies approach problem solving and passionate support from C-level executives who know that the ROI of 4IR technology isn\u2019t immediately apparent, but who push for it as a priority anyway. These executives know that the true value of digitisation is not just a 5% improvement in efficiency\u2014instead, they\u2019re looking at overall corporate resilience.<\/p>\n\n\n\n

When you run a digital operation, you improve not only efficiency. You also make sure your company can withstand difficult conditions or dramatic global changes. It\u2019s easy to restructure your business if there are political demonstrations in London, explosions in Beirut, or supply chain disruptions in Wuhan. Whether you just need to reroute your supply chain or completely reorganise your business in a politically calmer city, 4IR investment makes handling challenges much easier.<\/p>\n\n\n\n

This resilience will be a key competitive advantage in the 21st century in a world of pandemics, protests, and other disasters, both natural and man-made.<\/p>\n\n\n\n

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The future of well monitoring<\/h2>\n\n\n\n

It\u2019s okay to admit it: \u201cdigitalisation\u201d is a buzzword. Largely because it\u2019s such an abstract concept. Say the word in a 12-person meeting, and you\u2019ll have twelve different ideas pop into twelve different heads.<\/p>\n\n\n\n

That abstraction is part of the problem. We tend to turn digitalisation projects into overcomplicated overhauls of our business operations. The payoff can be enormous, of course. But the cost and hassle of hiring consultants, building new technology platforms, integrating it all into your system, and training your team on how to use it? That\u2019s enough to give us a headache, just thinking about it.<\/p>\n\n\n\n

Instead of thinking about the ever-evolving \u201cdigitalisation\u201d, modern oil companies are thinking on smaller, more practical scales. They\u2019re looking for easy-to-install, easy-to-use solutions that solve an immediate problem with digital technology. <\/p>\n\n\n\n