McKinsey establishes The North Asia Industrial IoT Hub in Taiwan
We’re pleased to announce the official opening of the McKinsey North Asia Industrial Internet of Things (IoT) Hub in Taiwan. The new Hub is our biggest and boldest move yet in Taiwan and represents a major investment in talent and technology.
We are investing in recruiting senior experts and analysts and developing solutions and tools to help companies in Taiwan and throughout the North Asia region undertake successful digital transformations.
In recent years, Industrial IoT and “Industry 4.0” have moved to the top of the agenda for high tech and advanced industrial companies worldwide. However, few companies understand the full power of these technologies and lack the talent and capabilities to make best use of them.
McKinsey’s decision to place the North Asia Industrial IoT Hub in Taiwan was based on several factors, including Taiwan’s attractiveness as a source of qualified high tech talent with experience in transforming operations in technology companies.
To support the establishment of the Hub, McKinsey Taiwan has seen tremendous growth. This growth includes the hiring of several IoT-capable consultants and transferring in many senior experts with decades of experience leading the operations of major multinational manufacturers.
McKinsey has also invested thousands of hours in conducting in-depth research into the key success factors for an integrated IoT transformation.
** McKinsey’s Taiwan Office doubled in size in the last 18 months, with a goal to triple our size by the end of 2019.
** We have spent more than 23,000 hours developing our integrated digital transformation approach.
** We’ve established ecosystem partnerships with 120 companies for tools and solutions, further strengthened by 56 McKinsey-developed proprietary tools and solutions – to help drive end-to-end company transformations.
** We established the McKinsey IIoT University to help companies reskill their workforce to a new digital way of working.
McKinsey’s experts in the North Asia Industrial IoT Hub will work hand-in-hand with companies in Taiwan and across the Asia region to deploy digital technologies, solutions, and capabilities to substantially boost their revenues, reduce costs, and transform their operations across the entire operations value chain, from revenue growth, to new product development, to procurement, to manufacturing, to supply chain, to back-office robotic process automation.
Last Friday, more than 40 senior McKinsey experts from across the Asia region gathered in Taipei for a hands-on, interactive demonstration of our digital transformation capabilities. More than 80 Chairmen, CEOs, and VPs from Taiwan’s biggest and most influential high tech companies joined us for a “Digital Transformation Experiential Showcase.”
The executives walked through a simulation of a complete end-to-end digital transformation. Starting with the Central Transformation Office, the executives walked through an additional 8 stations including Digitally-enabled Growth, Digital Procurement, Digital Manufacturing, Digital Supply Chain, Digital Product Development, Back-Mid-Front-Office Process Automation, IIoT Architecture, and Digital Capability Building.
“We believe that companies can attain a 30% cost productivity advantage by undertaking an end-to-end Industrial IoT transformation. However, by our estimates, only one-third of companies in the Asia region will manage this transition successfully.
But this really is a race – those who aren’t first will not be able to compete. So in our view, we are truly in a ‘Digitize or Die’ moment for high tech companies in Asia. With the launch of the McKinsey North Asia Industrial IoT Hub, McKinsey is committed to helping companies make this transition and emerge as stronger, more profitable, and more enduring global competitors,” said Albert Chang, Managing Partner of McKinsey Taiwan.
For more information, contact:
North_Asia_IIOT@mckinsey.com
**We’re hiring!!
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