220 Software is Eating the Industrial World

"We tend to overestimate risk and under estimate value when we're evaluating digital technology implementation," stated a keynoter during the 25th annual ARC Advisory Group Forum. Another keynoter told us that if we are evaluating digital transformation initiatives using a spreadsheet, we are off base. Some things have too great a risk of not doing. A Wall Street analyst told us that over the past year industrial software companies outperformed industrial companies. Software for digital transformation is where it's at. Check out the new Schneider Electric initiative promoting software defined control based on IEC 61499. This is an outgrowth of the Open Process Automation initiative that seems to be gathering some momentum. Software is eating the world--or at least the industrial one.