About the Event
The world has gone through three industrial revolutions since the late 1700s and we are currently in the early phases of the fourth industrial revolution, also known as Industry 4.0, or the era of smart manufacturing led by digital technologies and smart (intelligent) machines.
Smart machines, or the Internet of Things (IoT), are physical products with digital technologies (e.g., software and sensors) embedded into them and connected to the Internet. Examples of IoT devices include Amazon's digital assistant Alexa, Apple watches, cars that can parallel park themselves, drones, and NEST thermostats. The Industrial IoT (IIoT) consists of physical devices such as industrial equipment and vehicles that are embedded with sensors, software, and connectivity. These features enable them to connect and exchange data with other connected devices over the internet. The adoption of IoT technologies in emerging markets is still quite low but growing fast, especially in China. By 2030, China will likely be the single largest country market for the IoT, surpassing all other emerging markets combined.
The IIoT has revolutionized manufacturing and supply chains, assisted by digital technologies like artificial intelligence, robotics, data analytics, 3D printing, and cloud computing. As the population of IoT devices reaches a critical mass, manufacturing is already undergoing a major transformation—how products are made, delivered, and used by customers. They have literally changed industrial manufacturing forever.
Vinod K. Jain, expert in global & digital strategy, explored how the IIoT is changing industrial manufacturing globally and what it means for the future.
About Vinod K. Jain
Vinod K. Jain is an expert in global and digital strategy, a former business school professor, Fulbright Scholar, and author of books on Global Strategy and Digital Strategy. His latest book, Global Meets Digital: Global Strategy for Digital Businesses – Digital Strategy for Global Businesses, was published by Routledge in June 2023.
Vinod has taught at the University of Maryland, College Park, Rutgers Business School in Newark and New Brunswick, and Nottingham University Business School in China. Before transitioning to academia, Vinod worked with foreign subsidiaries of British and American multinationals for many years, including Macmillan Publishers (Vice President), Molins (Manager Coordination), and Coca-Cola (Marketing Research Executive).
While not a techie, Vinod is fascinated by and has flirted with digital business and digital strategy almost since the dotcom days. (He registered his first internet domain and first company in 1998). His articles and opinion pieces have appeared in the Authority Magazine, Baltimore Sun, CEOWORLD Magazine, Forbes, Mensa Bulletin, Washington Post, and Economic Times and Mint (India's #1 and #2 business dailies).
Vinod is a member of the Forbes Business Council, TiE (one of the world's largest associations of CEOs and entrepreneurs), and both the Academy of Management and the Academy of International Business continuously since 1991-92.
He has a Ph.D. in Strategy and International Business from the University of Maryland, College Park, an MS in Management from UCLA, and an MS and BS (Hons.) in Statistics from the Indian Statistical Institute, Calcutta.
About the Nardone Family Seminar Series
Made possible by a gift from David R. Nardone, this seminar series brings scholars and practitioners to Northeastern University to share insights on emerging markets.