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A further keynote discussed resilience – but in terms of people. Going beyond the factory floor, it examined the benefits of diverse teams for innovation- research has shown that diverse teams outperform their peers by 39 percent.
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The shift to new business models
MDSEU also explored how data is not just an internal efficiency tool but a driver of new revenue. The concept of creating a‘ marketplace for data internally’ was proposed- flipping the perspective to ask: Can I make money out of this data, or reuse it for multiple purposes? This entrepreneurial approach to data, coupled with technology like dynamic digital twins and edge computing plus AI, is essential for unlocking true value.
Furthermore, the focus on predictive modeling and equipment data is opening new revenue streams through servitization. This emerging model, often referred to as‘ equipment as a service’, fundamentally changes how manufacturers interact with their customers and assets.
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