What happens when a yacht, a tractor, an ATV, and a brewery converge on the floor of the Boston Convention and Exhibition Center?
As the definitive event for digital transformation, these showcase features played a starring role in showing what a smart, connected enterprise looks like. For example:
This is just a glimpse into the more than 100 state-of-the-art demonstrations bringing digital transformation to life at LiveWorx.
Beyond the show floor, here’s a look at some of the key themes and takeaways from the first full day of the event:
One of the recurring themes throughout day one was how to enable the digital thread in the industrial enterprise.
“In the age of digital transformation, new data sources and challenges have emerged, and digital threads offer a solution to improve the speed and agility of enhanced decision-making,” PTC’s President and CEO Jim Heppelmann said in the opening keynote.
(Read this post for a full recap of Heppelmann’s keynote.)
While the idea of a digital thread is not new, it’s emerging as a transformative concept for the industrial enterprise with the power to impact multiple of stakeholders – from engineers to front-line workers. Powered by integrated technologies, starting with PLM, CAD, and extending with IoT and augmented reality, artificial intelligence, and more, the digital thread enables enterprises to better manage product complexities and customization, increase productivity, and drive efficiency across the value chain.
In her presentation, Kathleen Mitford, PTC’s EVP of Products, shared how companies across diverse industries are accelerating time-to-value by leveraging PTC technology solutions and partner ecosystem to enable digital transformation.
The value of digital transformation is realized in three ways: differentiated products and services, operational efficiency, and improved workforce productivity, she explained.
“You cannot afford to embark on a new initiative that doesn’t do two things: one, have significant impact on your business, and two, achieve value quickly,” Mitford said, highlighting several customers, including Caterpillar, Steelcase, Raytheon, Global Foundries, and BMW, to demonstrate the power of PTC’s solutions.
Enabling a smart, connected enterprise is no easy feat – but made possible through strategic partners. Finding complementary partners allows businesses to focus on their core competency.
“We realized very early on in our digital transformation journey that the most efficient and time effective way to execute our vision was not to get lost in the digital enablement piece, but rather develop a strong partners ecosystem,” said Dr. Maria Wilson, Global Leader of Data Driven Advantage at Howden.
During the conference, there were several partnership news announcements on PTC’s end as well.
Keynote speaker Peter Diamandis, Founder and Executive Chairman of XPRIZE Foundation, closed out day one of LiveWorx with inspirational words about the imperative and opportunity of digital transformation.
Imbuing positivity and optimism, Diamandis told the packed crowd we are living in the “most extraordinary time in human history” – a time of exponential growth and capacity for innovation.
“The future is better than you think and coming faster than you think,” he said. “There’s really no challenge the right passion and dedication can’t solve.”
Offering cautionary examples, like Kodak and Blockbuster, Diamandis implored the audience to constantly ask questions and seek out ways to reinvent ourselves and our business models.
“The day before something is truly a breakthrough, it’s a crazy idea. Every company should have a crazy idea department to capture exponential growth,” he said.
Speaking to the future, Diamandis predicted that autonomous cars, flying cars, longer lifespans, the Internet of Everything, and an all-electric economy are coming sooner rather than later.
“We can adopt and adopt fast – so hold on,” he said.
Diamandis encouraged the audience to not be afraid of risk: “Go for the moonshot, go for the digital transformation, there’s no other option.”
“LiveWorx 2019 is going to blow your mind.”
That’s how Mario Armstrong, Master of Ceremonies, kicked off the first full day of LIveWorx. So far, it’s been an experience and we’re looking forward to sharing more!
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Look for additional LiveWorx 2019 recaps on the blog!