PR-DA0521-1 - 2021 Digitalization Applications 101, May

Digitalization Technology 101 - Why Now?

J. Hendrickson

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Abstract:
Most of the technologies that comprise digitalization are not new. In fact, some, such as artificial intelligence and autonomous robotics, have been around for many decades. So, the question is why are companies now embracing and investing in digitalization technologies? These technologies often require vast amounts of data, are computation-intensive and require complex algorithms. Until recent years, this has presented significant cost and long computation times to deliver results from complex algorithms. Much has changed regarding data, computation and advanced algorithms, making it possible to solve complex problems more cost-effectively and in near real time.


Keywords: digitalization, industry 4.0