A digital transformationis coming to industrial sectors such as chemicals, manufacturing, mining, and oil and gas. Companies in these sectors generate huge amounts of data but use only a small fraction of it. Industrial leaders are seeking new ways to capture more of this data and use it to speed innovation, boost efficiency, and customize products for ever more demanding customers. \r
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To understand what's happening today and to get a glimpse of the future, Richard Kelly, who leads McKinsey's North America Digital Manufacturing Service Line, chaired a panel discussion with three experts: Bill King, the chief technology officer of the Digital Manufacturing and Design Innovation Institute (DMDII); Joe Salvo, the manager of GE Global Research's Complex Systems Engineering Laboratory; and Lou Rassey, a Chicago-based entrepreneur in digital technology and an adviser to DMDII. An edited transcript of the panel discussion is enclosed.
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