To win in Industry 4.0, manufacturers need to change their approach to innovation. In particular, they must shift their focus from improving existing products and processes to developing genuinely new ones that target an unmet need in the market or value chain.
As for how they do it, the best way is to view innovation as a journey — one that begins with ideation but goes on to feature a series of continuous, iterative steps all pointing toward the same ultimate goal: commercialization .
