The high rise of technology and the adoption of Artificial Intelligence, Big Data Analytics and different simulation methods, as well as the new technology is providing the ways and the means of transforming the world into its digital twin, where we can perform different experiments without the risk of damage or loss, and also store enormous amounts of data, where it is protected from external influences.
This process is named digitalization or digitization, the terms are interchangeable, and mean the process of converting the information into digital format.
The wide use of this can be found in creation of digital libraries, as the books are scanned and by using the optical character recognition algorithms transformed into a digital document in a way that enables them to be electronically edited, searched, stored more compactly, and used in machine processes such as cognitive computing, machine translation, and text mining.
The benefits of digitalization of libraries is also a creation of electronic copies of the books and works of art so that they can be accesses by the wider audience and at the same time protected from damage.
The costs that have plagued the digitalization projects have diminished significantly in recent years, with the advancement in the technology, however many libraries around the world are at the moment focused more on creating digital libraries that establish links with resources on the web, instead of digitizing such collections from the start.
The national libraries are being digitalized at fast pace, as this provides the means of digitizing their counties’ history and making it more open to public, may it be in their own country or across the world.
The advancement in text-to-speech technology, as well as the translation provides the great opportunity for people all over the world to read the works of art translated to their own language, thus removing the boundaries and enabling better understanding of different nations way of life.
Unfortunately, there are always risks, and they are focused in the field of data security, and copyright as the digitization of the content and its availability online enables also the not-well-intended people to access and abuse the content, without the consent of the content owner.
However, these risks can be mitigated and the benefits of digitalization far outweigh the risks, therefore most of the libraries in the world are focused on creating their digital twins.
However, knowledge sharing is not the only element of digitalization, as the creation of digital twins is the cornerstone of collaboration, thus enabling Industry 4.0 at its best.
The whole factories and supply chains are being transformed in their digital twins where the people can work together on the problems and solutions, and identify in real time the outcomes of their suggestions.
Digitalization now creates opportunities for increasing customer value by collaboration, streamlining processes, increasing quality, creating new revenue streams, and reducing production costs, while at the same time addressing the risks prior to their appearance in the real world. Digitalization of business requires a systematical approach, to avoid transforming Digitalization and Industry 4.0 into just a buzzword, then changes in leadership style, and a wide acceptance within the organization.
Digitalization is here to stay, Industry 4.0 is making giant steps, and creating enormous opportunities, the companies and institutions that do not board the bandwagon risk being left behind and forgotten, therefore embracing the digitalization, while at the same time reducing its risks, is the best way to thrive in the new Industry revolution.