Maximize the value Companies like Sony are preparing for a future General Motors (GM) is also adopting the acquired MultiMechanics, Inc., which develops where they are expected to enhance device unfinished product mindset, and it has created finite element software to help companies functionality long after a consumer makes the a “digital nervous system” platform for new predict failure in advanced materials. Siemens 18 initial purchase—and they’re doing so in a way GM cars. This system will be able to process plans to integrate the company into Siemens that guards against the beta burden. Leaders are 4.5 terabytes of data an hour—a fivefold increase Digital Industries Software, making it possible rethinking their design processes and hardware over what current GM cars can do—which will let for its customers to create digital twins for to help make sure their products are equipped the cars process camera footage, Light Detection materials, and predict materials’ properties 19 to evolve constantly. and Ranging (LIDAR) data and real-time information and behavior. Testing materials in hypothetical on road conditions and traffic. Initially, this system ways, and even for applications that are not yet Since the launch of Amazon’s Echo devices, will let GM deliver over-the-air software updates possible, will help companies understand and for instance, the company’s Alexa assistant to customers, remotely improving vehicle maximize their products’ full physical potential. has changed the way many consumers obtain functionality without requiring drivers to visit information and interact with their personal spaces. a dealership. In the future, it will be critical to Leading companies are extending the value But moves from Amazon indicate the company delivering more autonomous driving capabilities. of their physical products by adopting the has ambitions beyond stand-alone smart speakers. mentalities of digitally born organizations. The Amazon Echo Flex is a smart outlet that not But to be truly successful, enterprises must By embedding intelligence into physical devices only contains a microphone for Alexa interactions, move past thinking about what is minimally and designing flexible products that can support but also a USB port that can support plug-and-play viable and consider what will make a product new capabilities as they become possible, these accessories, such as motion sensor and nightlight maximally valuable over its entire lifecycle. companies are setting themselves up to increase 17 accessories. By opening up a developer API and Businesses will find that their ability to iterate functionality over time. Ultimately, they will form technical specifications, the company is creating and improve products over time will continue stronger relationships with customers, built on a modular ecosystem that will grow and change to grow exponentially as the data they use an understanding that the devices they purchase as developers create new accessories in the future. becomes more granular. Case in point: Siemens today will appreciate in value tomorrow.