The Industrial Internet of Things (IIoT) era has arrived. Tractors are sending data on soil and weather conditions to be analyzed and used to optimize farming. In our homes, it seems anything equipped with sensors and internet connectivity can smarten up our daily lives.
Over the past few years, we have witnessed significant changes in the regulatory landscape for manufacturers doing business in Europe. One of the biggest changes concerns the implementation of the General Data Protection Regulation (GDPR), which will come into effect on May 25, 2018.
As the flood waters recede and the long rebuilding process begins, it is important to assess the impact on the U.S. economy and the U.S. manufacturing sector. Policymakers need to minimize the downstream negative impacts from an already destructive event. Manufacturing executives need to readjust their business plans to account for a significant disruption.
As the Internet of Things (IoT) creates a world of connected devices, it also opens up possibilities to reframe established business models to deliver more customer value and more profitability. This offers companies disruptive opportunities.
Employment remains a star in an otherwise lackluster economic expansion. U.S. employer payrolls swelled by a strong 209,000 in July, and the unemployment rate fell a tick to 4.3 percent, remaining at a 16-year low. Even with the sluggish GDP growth of recent quarters, it is clear that the U.S. economy is growing above its long-term, non-inflationary potential, creating a strong demand for labor even after eight years of economic recovery and expansion.