Book Image

Industrial Digital Transformation

By : Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel
Book Image

Industrial Digital Transformation

By: Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel

Overview of this book

Digital transformation requires the ability to identify opportunities across industries and apply the right technologies and tools to achieve results. This book is divided into two parts with the first covering what digital transformation is and why it is important. The second part focuses on how digital transformation works. After an introduction to digital transformation, you will explore the transformation journey in logical steps and understand how to build business cases and create productivity benefit statements. Next, you’ll delve into advanced topics relating to overcoming various challenges. Later, the book will take you through case studies in both private and public sector organizations. You’ll explore private sector organizations such as industrial and hi-tech manufacturing in detail and get to grips with public sector organizations by learning how transformation can be achieved on a global scale and how the resident experience can be improved. In addition to this, you will understand the role of artificial intelligence, machine learning and deep learning in digital transformation. Finally, you’ll discover how to create a playbook that can ensure success in digital transformation. By the end of this book, you’ll be well-versed with industrial digital transformation and be able to apply your skills in the real world.
Table of Contents (15 chapters)
Section 1: The "Why" of Digital Transformation
Section 2: The "How" of Digital Transformation

Social good

The third type of benefit from digital transformation is social good. Social good is something that benefits a significant number of people. For example, the United States Environmental Protection Agency's mission to ensure clean air, water, and land is a social good. Social good is the basis for much of the work performed by governments and philanthropic organizations.

In 1970, Milton Friedman, one of the most famous economists of the 20th century, put forth the theory that the role of a CEO and, therefore, a corporation, was to maximize corporate value without regard for any effects on individuals or society. This theory was widely embraced and the effects of corporations maximizing profits without regard to their impact on others, known as externalities, resulted in substantial negative impacts, such as environmental pollution. However, in recent years, most private sector organizations have recognized the impacts of negative externalities and embraced their...