According to Michael E Porter of the Harvard Business Review, ‘What is underway is perhaps the most substantial change in the manufacturing firm since the second industrial revolution, more than a century ago.’
But what is underway? What is Mr Porter referring to? He’s talking about the exponential growth and impact of the Internet of Things. In the 1700s and 1800s we had the industrial revolution, then from the 1960s to the 2000s we had the technological revolution. Today, powered by ‘intelligent machines’, these industries are combining to form the Industrial Internet of Things. It’s an industrial, technological and economical revolution and you can learn more about it in the graphic below.