New-Tech Europe Magazine | Q2 2022

New ABB study on industrial transformation unveils critical relationship between digitalization and sustainability New-Tech Magazine Group LTD.

“Billions of better decisions” highlights the role of Industrial IoT solutions in reaching sustainability goals while empowering the industrial workforce International survey of 765 decision- makers reveals that while 96 percent believe digitalization is “essential to sustainability,” just 35 percent have implemented Industrial IoT solutions at scale 72 percent of companies are increasing investment in Industrial IoT specifically to address sustainability aims ABB released the f indings of a new global study1 of international business and technology leaders on industrial transformation, looking at the intersection of digitalization and sustainability. The study, “Billions of bet ter dec i s i ons: indust r i a l transformation’s new imperative,” examines the current take-up of the Industrial Internet of Things (IoT) and its potential for improving energy efficiency, lowering greenhouse gas

emissions and driving change. The goal of the new ABB research is to spur discussion within industry regarding opportunities to leverage the Industrial IoT and empower companies and workers to make better decisions that can benefit both sustainability and the bottom line. “Sustainability goals more and more are a crucial driver of business value and company reputation, and Industrial IoT solutions are playing an increasingly important role in helping enterprises achieve safe, smart and sustainable operations,” said Peter Terwiesch, President of ABB’s Process Automation business area. “Unlocking insights hidden in operational data holds the key to enabling literally billions of better decisions throughout industry and acting upon them, with significant gains in productivity, reduced energy consumption and lower environmental impact.” The study, commissioned by ABB,

found that an organization’s “future competitiveness” is the single greatest factor – cited by 46 percent of respondents – in industrial companies’ increased focus on sustainability. Yet while 96 percent of global decision- makers view digitalization as “essential to sustainability,” only 35 percent of surveyed firms have implemented Industrial IoT solutions at scale. This gap shows that while many of today’s industrial leaders recognize the important relationship between digitalization and sustainability, the adoption of relevant digital solutions to enable better decisions and achieve sustainability goals needs to accelerate in sectors like manufacturing, energy, buildings and transport. Further key learnings from the study 71 percent of respondents reported greater priority given to sustainability

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