Today’s manufacturing industry finds itself in the midst of the fourth industrial revolution. Like the innovations prompting its predecessors – the steam engine, the assembly line and the computer, for example – the digitalization of manufacturing is bringing major challenges and opportunities to factory operators around the world.

Known as smart factories, these intelligent interconnected facilities are popping up around the world. In fact, according to a survey by Gartner, 74% of manufacturers have initiatives or strategies underway. Not surprising considering that industry experts say digital transformation is an urgent priority for manufacturing operations to remain competitive in the 2020s. But Gartner also predicts that many of these efforts will fail due to various factors.