Digitalization vs. Transformation
In this episode, Ken Forster talks with Luke Smaul, Momenta's newest Strategy Partner. Luke has worked in digital industry for over 20 years, applying strategic thinking to new go-to-market and business models.
Luke has successfully spearheaded large multinational digital transformation projects for Fortune 100 companies before going out on his own to bring his expertise to others. His passion is creating new business models across a range of verticals in both the discrete and process space using IoT Edge sensors, big data, and advanced analytics. Luke advises global and early-stage firms focusing on digital strategy, sales/marketing, and go-to-market (GTM) planning leveraging his prior executive experience at GE Digital, Flashpoint, and his own firm, Chakra.
Discussion Points:
- What would you consider your "Digital Thread"?
- After several years as an Automation Engineer in a System Integrator, you joined GE working over 12 years across the Intelligent Platforms and GE Digital business lines. GE remains a benchmark for Digital Industry companies. What would you say were the top three insights you gleaned from this time relative to Digital Industry?
- You founded your own advisory firm, Chakra, in 2019, focused on helping manufacturing companies create "a new way of thinking about digital and digital transformation." What were some of your key learnings and accomplishments during this time?
- You've offered that "manufacturing companies start out by investing in digital but lose their way as they work through identifying ROI and impact in pursuit of scalable solutions." You add that "Digital offerings are not geared towards the needs of industrial companies and are not equipped to provide guidance on how these companies do and should operate." Can you say more about this?
- We often see the phrase Digitization, Digitalization, and Digital Transformation loosely applied to the impact of digital in industry. How do you define each?
- What are some of the best-in-class manufacturing companies you've seen applying digital in their operations and products?
- How do you know when an organization is ready to adopt digital manufacturing technologies, and what best practices have you seen in realizing that potential value?
- Where do you see the greatest opportunities for Industry 4.0/5.0 in the next 5 years?
- We're proud to have you as part of Momenta. Can you talk about your remit and focus here?
- And in closing, where do you find your inspiration?
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